Crypto Markets Stabilize as HyperLiquid’s HYPE Surges on $1B Purchase Plan

After a volatile few weeks, the cryptocurrency market found a footing on Thursday, with major assets posting modest gains and HyperLiquid’s token HYPE leading the charge.

Bitcoin (BTC) traded around $110,141, rising 1.6%, while Ether (ETH) inched up 1.1% to $3,892. Other large-cap tokens, including BNB and Solana (SOL), recorded slightly stronger gains, reflecting renewed buying interest.

The standout performer was HYPE ($39.05), which surged 12% following news that HyperLiquid Strategies plans to raise $1 billion to expand its token holdings.

Thursday’s calmer market sentiment was mirrored in derivatives data, with funding rates hovering near zero, signaling reduced speculative pressure and a temporary pause in extreme volatility after recent swings.