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Hyperliquid price rises despite 25% drop amid strong revenue and short squeeze

Market News
24 May 2026
UToday
View Source
Bullish
pluang ai news

Hyperliquid's token price paradoxically rose to new highs above $63 despite a 25% drop due to dilution and token unlock concerns. The market values Hyperliquid more like a revenue-generating exchange than a typical DeFi token, driven by strong perpetual futures volume, rising TVL, and fee generation. A short squeeze fueled the rally as bearish traders covered positions, pushing prices higher. However, risks remain from ongoing token unlocks and stretched valuation, with potential for a 20-30% correction ahead.

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