Hyperliquid’s token rally captured broader attention as a rapid 60% ascent lifted the price to 34.90 from about 21.80 in a matter of days. The move came amid a confluence of on-chain activity, new balance-sheet exposures, and a wave of speculative positioning that left traders parsing whether the momentum would endure. Two events stood out in the backdrop: the staking unlock that eased selling pressure and reports that a Nasdaq-listed treasury company added HYPE to its digital-asset reserves. The price spike also coincided with a bout of liquidations on bearish leveraged bets, underscoring how quickly sentiment can flip in a market where liquidity and risk appetite ebb and flow in tandem. Key takeaways HYPE surged about 60% to 34.90 in a two-day rally, with more than $20 million in liquidations tied to bearish, leveraged positions as the move unfolded. An ARK Invest Big Ideas report highlighted Hyperliquid as a potentially revenue-efficient player in DeFi derivatives, contributing ...