Hyperliquid’s HYPE Trades Near $86 After 12% Retreat From Record

Hyperliquid’s HYPE token traded near $86 on Oct. 8 after retreating 12.08% from its $97.98 record on Sept. 23, with a later market-data snapshot showing nearly $750 million in 24-hour volume.

HYPE fell 3.96% over 24 hours and moved between $85.97 and $89.58 in that snapshot. Its market capitalization was about $21.86 billion, while its fully diluted valuation stood at $81.78 billion.

The token had a circulating supply of 254.29 million HYPE and a maximum supply of 950.98 million. An earlier Oct. 8 reading showed HYPE near $86.90 and down about 3.5% over 24 hours, indicating that the displayed figures varied by capture time.

HYPE’s record came one day before Binance began spot trading for HYPE/USDT, HYPE/USDC and HYPE/TRY on Sept. 24 at 7 a.m. ET (11:00 UTC). The pairs were unavailable to users in the United States and several other jurisdictions.

Binance applied its Seed Tag to HYPE and warned that newly listed tokens can be volatile. The available price data show HYPE’s movement after the listing, but do not establish that the listing caused the decline.

Hyperliquid is a layer-one blockchain focused on perpetual futures and spot trading. HYPE is used for staking, governance, gas fees, trading-fee discounts and asset-deployment fees. The token previously reached a record above $97 as its weekly gain reached 27%.