TL; DR
- The crypto market has started the new week on a positive note, with BTC trading near $112k.
- HYPE has overtaken Chainlink’s LINK, rising nearly 8% today.
HYPE Overtakes LINK on the Market Cap Rankings
The cryptocurrency market opened the week with broad gains as Bitcoin and several major coins climbed higher. BTC, the largest cryptocurrency by market capitalization, gained about 1% over the past 24 hours and is trading around $111,800 per coin.
This positive momentum has lifted many altcoins, with HYPE leading the pack. Ether is trading above $4,300 after adding roughly 0.4%, while XRP approaches $3 following a more than 3% rise over the last day.
Among the top 20 coins, Dogecoin (DOGE) and Hyperliquids (HYPE) are top performers. HYPE surged nearly 20% in the past 24 hours, outperforming many established cryptocurrencies in the last few hours.
At press time, HYPE is trading around $50.70 after briefly touching the $51 mark earlier today. Thanks to this rally, HYPE has surpassed Chainlink’s LINK and now ranks as the eleventh-largest cryptocurrency by market capitalization.
HYPE Eyes a New All-Time High
HYPE is currently less than 1% below its all-time high of $51.04, set 12 days ago. With the bullish trend still intact, the token could reach a new record high within hours if buying pressure continues.
The HYPE/USD 4-hour chart looks bullish and well-structured, suggesting bulls may be preparing for another upward leg. The RSI at 73 indicates HYPE could enter overbought territory soon if the uptrend persists. MACD lines have also moved into positive territory, signaling buyers appear to be in control.
If the bullish momentum continues, HYPE could push above $51 and record a new high near $55 within the next few hours. A prolonged uptrend could see the token reach $60 in the coming days or weeks.
That said, HYPE is currently facing rejection at the $51 level. If the market undergoes a correction, HYPE may retest the $48 low in the next few hours. The $46.85 support level should hold in the short term unless market sentiment turns sharply bearish.