$HYPE Slides as Ethereum Soars and Hyperliquid Hits $19B – Can It Rebound?

The native token of Hyperliquid, $HYPE, is trading lower even as its parent platform records historic growth and Ethereum continues its sharp rally.

At the time of writing, HYPE is down 3.3% in the past 24 hours and 1.1% over the past seven days. It’s currently priced at $45.13, roughly 8.5% below its all-time high of $49.75, reached earlier this week.

Trading volume remains elevated, hitting over $570 million in the last 24 hours, a 13.4% increase from the day before.