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Sign InHyperliquid (HYPE) has reached a new record high against Coinbase (COIN) shares at a ratio of 0.2514, supported by a massive ecosystem trading volume of $8.28 billion. Notably, HYPE price action has demonstrated a significant decoupling from Bitcoin (BTC) price variations, maintaining an upward trajectory regardless of broader market volatility. The technical structure has confirmed a consistent bullish trend, forming consecutive higher highs and higher lows since a rebound in the first few days of the month. Analysts suggest HYPE remains undervalued relative to its fee revenue and user growth, trading similarly to a high-growth stock. While facing resistance at its ascending channel's upper boundary, speculation regarding a potential U.S. ETF launch continues to fuel momentum toward targets above $50.