# Hyperliquid Still Rules the Perps Market, but HYPE Bulls Face Trouble

- Source: Bitcoin News
- Published: 2026-10-25T14:45:28+00:00
- Category: Markets
- Original: https://news.bitcoin.com/market-updates/hyperliquid-still-rules-the-perps-market-but-hype-bulls-face-trouble/
- Canonical: https://groundlevelnews.com/story/hyperliquid-still-rules-the-perps-market-but-hype-bulls-face-trouble-4a387e/

Hyperliquid’s HYPE token has retreated roughly 22% from its September record near $98, even as the decentralized trading platform commands approximately $7.7 billion in open interest. With a $17 billion market capitalization, billions in cumulative trading fees, and an aggressive token buyback program, Hyperliquid still remains a heavyweight. Yet shrinking market share in real-world asset […]

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