Hyperliquid (HYPE) drops out of top 10 following 6.5% correction

Hyperliquid's native token, HYPE, has fallen out of the top 10 cryptocurrencies by market cap after a 6.5% weekly correction. The decline follows a record-breaking rally that saw the asset hit an all-time high of $97.96 on September 23, 2026, likely driven by profit-taking and broader market weakness following the Federal Reserve's 25 basis point rate hike. Despite the dip, the exchange has seen increased activity and fee revenue from oil futures trading and potential expansion into the U.S. market.