HYPE Surges Past $42 as Bitcoin Market Fluctuates

The cryptocurrency market experienced volatility with Bitcoin facing ups and downs. HYPE, the native token of the Hyperliquid DeFi derivatives exchange, broke its all-time high on June 11, 2025, reaching a record $42.07 as whales contributed significantly to the surge. This increase highlights the impact of decentralized finance (DeFi) platforms utilizing derivatives, particularly in influencing Bitcoin and Ethereum’s trading activity and liquidity.