Background: HYPE Surges Past $60 as Hyperliquid Dominates Perpetual Volume

Hyperliquid's native token HYPE has staged one of the most dramatic rallies in recent memory, climbing to $60.43 in May 2026 - a level that has put the entire DeFi permabull community on high . The surge comes alongside unprecedented activity on the Hyperliquid perpetuals exchange, where HYPE perpetual volume has consistently ranked among the top three prot