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CryptoMediumUpdated•Originally published 20 March 2026•Updated 20 March 2026•

1 min read

Hyperliquid (HYPE) Flips Cardano (ADA) in Market Cap as Arthur Hayes Sets $150 Target

Key Facts

1Hyperliquid (HYPE) briefly surpassed Cardano (ADA) in market capitalization, entering the top 10 cryptocurrencies.

3 months ago

Version History

3 additional sources confirmed this story

Version 13 months ago

What changed: Updated the narrative to highlight Hyperliquid's emergence as a 24/7 macro asset trading hub and its liquidity levels rivaling major centralized exchanges.

Hyperliquid (HYPE) recently achieved a major milestone by briefly overtaking Cardano (ADA) in market capitalization, securing its place among the top 10 cryptocurrencies. The token continues its strong momentum, trading between $40 and $43 following a 21% weekly gain, bolstered by an ambitious $150 price target from BitMEX co-founder Arthur Hayes. Beyond price action, the platform is emerging as a critical 24/7 hub for macro asset price discovery, offering continuous markets for instruments traditionally limited to weekday sessions. This evolution allows traders to hedge and speculate on global macro trends even when traditional financial markets are closed. Furthermore, Hyperliquid's liquidity and trading volumes are now approaching levels typically associated with top-tier centralized exchanges. This combination of technical strength and fundamental utility highlights the rapid rise of decentralized protocols against established digital assets.