Hyperliquid Price Surges as Market Cap Overtakes XLM, Hits $6.8 Billion

Hyperliquid’s HYPE token pushed past Stellar’s XLM in market cap, then drew fresh attention after a TradingView chart showed a sharp rebound off $20.50. As a result, the focus shifted to whether HYPE can hold the reclaimed range support after the quick recovery.

Hyperliquid tops Stellar by market cap as HYPE trades near $22

Hyperliquid’s HYPE token pushed its market capitalization to about $6.9 billion, moving it ahead of Stellar’s roughly $6.78 billion on CoinCodex’s rankings.

After the market cap crossover, HYPE traded around $22.5 and posted about $125 million in 24 hour trading volume. The token’s circulating supply stood near 302.07 million, while total and max supply were both listed at 961.67 million, leaving the fully diluted valuation near $21.8 billion.

Asset Card Comparison: Hyperliquid vs Stellar. Source: CoinCodex

Meanwhile, Stellar traded near $0.208 with a 24 hour volume around $79.8 million, keeping its valuation close behind despite the ranking slip. CoinCodex listed Stellar’s circulating supply at about 32.42 billion XLM, with a max supply near 50.0 billion.

Hyperliquid chart post flags range reclaim after $20.50 low

Hyperliquid’s HYPE token drew fresh technical attention after an X user, OliverSuccess_, shared a TradingView chart showing price rebounding back above a prior support band. The chart shows HYPEUSDT near $23.30 after a selloff that set a visible low at $20.50, then flipped into a quick recovery.

HYPEUSDT Perpetual Range Reclaim Chart. Source: OliverSuccess on X

The chart frames the move as a return into a defined consolidation zone. It marks a range low around the low $22 area and a range high near the upper $28 area, with price spending weeks chopping inside that box before the breakdown and snapback. After the rebound, the chart’s drawn path suggests a pullback toward the range low could act as the next decision point before any attempt toward the top of the range.

OliverSuccess_ labeled the downswing as a 3 day bullish divergence, implying momentum weakened while price printed a lower low. In his view, that divergence combined with the reclaim strengthens the case that sellers lost control near the lows, even though the chart still shows uneven candles inside the range.