# Hyperliquid (HYPE): crypto price, market cap and strength versus Bitcoin

> Hyperliquid (HYPE) closed at $83.76 on 4 November 2026, with a market capitalisation of $20B (rank 11). On 30 October 2026 it was above its 200-day average of $66.37, which is rising. Over 90 days it is 49.2 percentage points ahead of Bitcoin. DEX as a theme is +0.6% against Bitcoin over 13 weeks.

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## What is Hyperliquid (HYPE)?

Hyperliquid (HYPE) is a crypto token that CoinGecko lists under decentralized exchange (DEX), smart contract platform and exchange-based tokens. We place it in the DEX theme, with 38 coins. Its highest daily close since 6 December 2024 was $97.19 on 22 September 2026; its lowest was $10.25 on 6 April 2025.

## Agent research brief

- What this coin is: Hyperliquid (HYPE), a DEX token of $20B at market-cap rank 11. Recent on-chain figures are sourced from DefiLlama.
- What the tape says: 49.2 percentage points ahead of Bitcoin over 90 days; above its 200-day average. DEX as a theme is +0.6% against Bitcoin over 13 weeks.
- What the evidence supports: Nothing is ranked for Hyperliquid this week: No traded volume is reported on most of the last 30 days, so it has no liquidity reading.
- What is missing: There is no valuation band for any coin on this site: historical market capitalisation is not held, so no PE-style range can be built. Hyperliquid publishes no fee, revenue, TVL or user series at all.

Theme: DEX (/crypto/sector/dex). Price 2026-11-04; market-cap snapshot 2026-11-04.

## Price, returns and risk

Hyperliquid is +97.6% over one year, +72.5% over 90 days and -1.2% over 30 days. Annualised 30-day volatility is 60%. Its deepest fall from a high inside the last 90 days is 22%. It trades above its 200-day average, which is rising.

- Price: $83.76
- Market cap: $20.0B (rank 11)
- Returns: 7d +17%; 30d -1.2%; 90d +72%; 180d +117%; 1y +98%
- Versus Bitcoin, 90d: +49.2 pts (percentage points: its return minus Bitcoin's)
- 30-day volatility: 60% annualised; deepest 90-day fall 22%
- 200-day average: $66.37, trading above it

## Protocol economics

Hyperliquid has no complete calendar-quarter series on file yet, so no quarterly chart is drawn. DefiLlama does publish recent daily figures for it, and the last 30 and 90 days are shown below with their end date. Network activity is evidence about the protocol, not earnings owed to the token.

## Research score

Hyperliquid is NOT RATED this week. No traded volume is reported on most of the last 30 days, so it has no liquidity reading.

No valuation band exists for any coin on this site: historical market capitalisation is not held, so no company-style valuation range can be built.

## DEX scorecard

Hyperliquid is one of 38 DEX coins here, 30 of which carry enough evidence to be rated and ranked. Hyperliquid is not among them this week, for the reason stated above. The table below is the theme's own scorecard, in its own order, with this coin marked.

- 1. Curve DAO (CRV): score 66.9; evidence 95%; Better than most
- 2. PancakeSwap (CAKE): score 65.5; evidence 95%; Better than most
- 3. Orca (ORCA): score 62.5; evidence 95%; Better than most
- 4. Uniswap (UNI): score 59; evidence 82%; Mixed
- 5. Raydium (RAY): score 58.3; evidence 95%; Mixed
- 6. DODO (DODO): score 56.8; evidence 50%; Price-led, little network data
- 7. Magma Finance (MAGMA): score 56.2; evidence 50%; Thinly traded
- 8. Aster (ASTER): score 54.4; evidence 43%; Price-led, little network data
- 9. THORChain (RUNE): score 54.3; evidence 95%; Mixed
- 10. Sushi (SUSHI): score 52; evidence 95%; Mixed
- 11. Elephant Money (ELEPHANT): score 51.4; evidence 19%; Thinly traded
- 12. 0x Protocol (ZRX): score 50.2; evidence 50%; Thinly traded
- 13. CoW Protocol (COW): score 49.8; evidence 79%; Thinly traded
- 14. Osmosis (OSMO): score 49.4; evidence 95%; Thinly traded
- 15. Cetus Protocol (CETUS): score 47.2; evidence 50%; Thinly traded
- 16. Baseline (B): score 47.2; evidence 37%; Thinly traded
- 17. Kyber Network Crystal (KNC): score 47.1; evidence 50%; Thinly traded
- 18. Pendle (PENDLE): score 46.8; evidence 95%; Mixed
- 19. Bancor Network (BNT): score 45.7; evidence 50%; Thinly traded
- 20. 1INCH (1INCH): score 41.6; evidence 55%; Thinly traded
- 21. Gnosis (GNO): score 41.2; evidence 50%; Thinly traded
- 22. Falcon Finance (FF): score 40.9; evidence 64%; Thinly traded
- 23. ChangeNOW (NOW): score 40.9; evidence 50%; Thinly traded
- 24. dYdX (DYDX): score 39.4; evidence 50%; Thinly traded
- 25. Synthetix (SNX): score 37.9; evidence 50%; Price-led, little network data
- 26. VVS Finance (VVS): score 36.8; evidence 50%; Thinly traded
- 27. WOO (WOO): score 36.6; evidence 50%; Thinly traded
- 28. HumidiFi (WET): score 34.1; evidence 50%; Thinly traded
- 29. Momentum (MMT): score 31.4; evidence 64%; Thinly traded
- 30. Meteora (MET): score 31; evidence 65%; Thinly traded
- , . Hyperliquid (HYPE) [this coin]: score not rated; evidence 0%; Not rated

## Limitations

- Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
- Market capitalisation is a dated snapshot, not a point-in-time historical supply series, so yields computed against it inherit that lag.
- No valuation band exists for any coin: historical market capitalisation is not held at all.
- Funding rates, open interest, liquidations, exchange flows, unlock schedules and developer activity are not held and are not inferred.
- The research score is relative to this coin's own theme only. It is not comparable across themes and is not an entry signal.

## FAQs

### What is Hyperliquid (HYPE)?

Hyperliquid (HYPE) is a crypto token that CoinGecko lists under decentralized exchange (DEX), smart contract platform and exchange-based tokens. We place it in the DEX theme, with 38 coins. Its highest daily close since 6 December 2024 was $97.19 on 22 September 2026; its lowest was $10.25 on 6 April 2025.

### What is the market cap of Hyperliquid?

Hyperliquid's market capitalisation is $20B, ranking it 11 in the top-1,000 crypto universe, read on 4 November 2026. It is refreshed separately from the daily price.

### Is Hyperliquid beating Bitcoin?

Over 90 days Hyperliquid is 49.2 percentage points ahead of Bitcoin: its own return minus Bitcoin's. Its theme, DEX, is +0.6% against Bitcoin over 13 weeks. Hyperliquid trades above its 200-day average as of 4 November 2026.

### What is Hyperliquid's highest price?

The highest daily close we hold for Hyperliquid is $97.19, on 22 September 2026, in records from 6 December 2024. The lowest is $10.25, on 6 April 2025. The close on 4 November 2026, $83.76, is 14% below that high.

### Does Hyperliquid have a P/E ratio?

No. There is no company-style P/E or PEG for a crypto token, and no valuation band is shown on this page because the data to build one honestly does not exist: historical market capitalisation is not held, only a current snapshot. Where a protocol publishes fees or revenue, this page shows the yield against that dated snapshot instead.

### Why is Hyperliquid not rated?

No traded volume is reported on most of the last 30 days, so it has no liquidity reading. It stays on the site with its price history visible, because a missing reading is not a middling reading and a made-up score would be worse than none.

### How much Hyperliquid history does this page show?

Five years of weekly closes where they exist, plus 20 complete calendar quarters of on-chain activity for the metrics Hyperliquid actually publishes. No complete quarterly series is on file for this token yet; DefiLlama's last 30 and 90 days are shown instead.

### How much did Hyperliquid earn in the last 30 days?

In the 30 days to 30 October 2026, DefiLlama shows $86M of fees and $67.9M of protocol revenue for Hyperliquid. Over 90 days: $253.3M of fees and $202.9M of revenue. Fees are what users paid; revenue is the part the protocol keeps.