Recently, Bitcoin (BTC) and altcoins have seen an upward movement, with some altcoins increasing in value.
At this point, Ethereum is making headlines with a 15.4% increase over the past 7 days, while Hyperliquid ($HYPE), a whale favorite, entered the top 10 with a 20% increase.
Changes have occurred in the top 10 rankings on Coinmarketcap. As a result, Hyperliquid overtook Cardano ($ADA) with remarkable performance.
$HYPE has overtaken Cardano, surpassing $10.5 billion in market capitalization, becoming the 10th largest cryptocurrency by market capitalization.
According to experts, this situation is the result of the recent constant upward trend in the price of HyperLiquid. Increased demand for crude oil perpetual futures contracts following recent conflicts in the Middle East is also believed to have driven HyperLiquid prices higher. In fact, the price of HyperLiquid has increased by more than 40% in the last month.
As a result, HyperLiquid entered the top 10 in terms of cryptocurrency market capitalization. However, Cardano ($ADA), which was previously ranked 10th, dropped one place to 11th. Cardano’s market capitalization now stands at $10.47 billion.
*This does not constitute investment advice.