HYPE Nears $60 on Hyperliquid as Rival DEX Token ASTER Jumps 350%, Signaling a Speculation Surge

Hyperliquid’s native token HYPE briefly approached the $60 mark as buying pressure swept through on-chain markets, while ASTER — issued by a rival DEX — rocketed more than 350%. The twin rallies highlight an intensifying risk-on mood and a rotation into high-beta tokens across the crypto market.
Traders cite narrative momentum, aggressive spot and perpetual activity, and thin liquidity as forces magnifying intraday moves. On both tokens, rapid price discovery drew in momentum chasers and arbitrageurs, with funding swings and cascading liquidations accelerating spikes in both directions.
The surge also reflects a broader hunt for yield: points programs, incentive campaigns, and speculative airdrop expectations continue to funnel capital toward newer platforms. That dynamic can push valuations ahead of fundamentals, leaving prices vulnerable when sentiment cools.
For participants, the takeaway is clear: volatility is the feature, not the bug. Use disciplined sizing, set clear invalidation levels, and beware of slippage during peak hours. Short-term narratives can change quickly, and what rises 300% can retrace just as fast.