Hyperliquid (HYPE) Just Did What Only One DeFi Token Had Done Before: CoinGecko

Hyperliquid (HYPE) entered the highest 10 cryptocurrencies by market capitalization on June 1st, after surpassing the OG meme coin, Dogecoin (DOGE), with a valuation of over $16 billion.

According to a report by CoinGecko, this improvement made HYPE solely the second pure decentralized finance (DeFi) protocol to achieve the highest 10, after Uniswap achieved the feat in 2021 in the course of the crypto bull market that adopted the 2020 “DeFi Summer.”

HYPE Enters Crypto Top 10

CoinGecko said Hyperliquid’s rise was partly supported by its stronger efficiency in contrast with the broader crypto market, permitting it to ascertain itself as one of many few digital property that remained in an uptrend in the course of the 2026 bear market.

HYPE has been one of many strongest performers within the crypto market in current weeks, because it witnessed each worth motion and elevated neighborhood curiosity. As the token rallied to a report high above $73, discussions and constructive sentiment across the challenge surged throughout X, Reddit, Telegram, and different crypto communities.

Although HYPE has since settled close to the $65 degree amid a broader market pullback, enthusiasm surrounding the token stays robust. According to market observers, the current correction has completed little to weaken the general bullish outlook.

Zooming Out

Bitcoin has remained the biggest crypto by market cap each single 12 months since 2014, however its “grip has loosened barely” over the previous decade. Bitcoin accounted for 87% of the mixed market cap of the highest 10 cryptos again in June 2014, in contrast with 64.9% in June 2026, a decline of twenty-two.1 proportion factors over 12 years.

Despite this, CoinGecko stated no different asset has come near difficult its total dominance.

The report additionally pointed to Ethereum’s arrival in 2016 because the “single most consequential structural shift” within the high 10’s make-up. Entering straight at second place with an 11.1% share, Ethereum shaped a long-standing two-asset core alongside Bitcoin. Its share later peaked at 23.5% in the course of the 2021 DeFi and NFT growth earlier than easing to 10.6% by 2026 as competing Layer 1 blockchains gained a bigger presence.

Meanwhile, Ripple (XRP) stood out as the one non-Bitcoin cryptocurrency to stay within the high 10 each single 12 months from 2014 by means of 2026, because it expanded from a $32 million valuation and a 0.3% share in 2014 to $127.9 billion and a 4.3% share by 2025.

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