Hyperliquid HYPE reaches record $90 as altcoins extend crypto rally

Hyperliquid’s HYPE token reached a new all-time high near $90 on September 18. CoinMarketCap data showed HYPE trading around $90.13, up 12.83% over 24 hours. The token briefly reached about $90.09, surpassing its previous record from earlier this month.

The rally comes as broader crypto markets strengthened. Bitcoin recovered toward $78,000, while several major altcoins also posted gains. HYPE has also benefited from growing activity around Hyperliquid’s decentralized derivatives platform. Hyperliquid’s open interest recently reached $14.3 billion, highlighting strong demand across its trading markets.

Meanwhile, Kraken announced plans for CFTC-regulated U.S. onchain perpetual futures using Hyperliquid’s HIP-3 infrastructure. That development has added attention to Hyperliquid’s role in regulated derivatives markets. HYPE remains volatile, however, after its sharp advance from below $80 earlier this week.