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THE BLOCK: Multicoin predicts HYPE hits $319 by 2028 as Hyperliquid turns into an 'everything exchange'

Binance will delist the IPUSDT and IPUSDC USDT-margined perpetual contracts due to the rebranding of the Story brand.

Per an official announcement, following the rebranding of the Story (IP) brand to Data Network, Binance will automatically liquidate IPUSDT and IPUSDC U-margined perpetual contracts at 17:00 CST (UTC+8) on June 28, 2026, and remove these perpetual contract trading pairs after liquidation concludes. Users are advised to close their positions voluntarily before trading is suspended to avoid automatic settlement of their positions. Starting from 16:30 CST (UTC+8) on June 28, 2026, users will no longer be able to submit new non-reduce-only orders for the aforementioned perpetual contracts. A separate announcement will be released when the new contract goes live.

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Apple's stock price fell by 6%, marking its largest decline since April 2025.

According to Bitget's market data, Apple's stock price fell by 6%, marking its largest decline since April 2025.

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Greeks.live macro researcher Adam posted on X: "Tomorrow is the quarterly expiry, and Bitcoin has dipped below $60,000. As seen in the GEX chart, $60,000 is clearly the highest open interest price point. Meanwhile, large positions are also starting to accumulate at $58,000 and $59,000, signaling rising market risk. Institutional investors and major holders have not continued to bet on a downward move; they are just waiting for the expiry."

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HYPE Drops 17% From Record High but Hyperliquid Fundamentals Remain Strong

PANews, June 25 – According to on-chain analyst Ai Yi’s monitoring, the “Hyperliquid whale who shorted 16 altcoins and made a $13.68 million profit” has begun selling ETH. Five hours ago, amid a market rebound, the whale deposited 6,855.13 ETH ($11.02 million) into Binance, likely to sell. This ETH was accumulated in February and March of this year at an average price of $1,991. If sold, it would result in a loss of $2.625 million.

Hyperliquid Portfolio Margin Feature Enters Beta Testing and Increases Limits

PANews June 25 news, according to Cointelegraph, the Hyperliquid portfolio margin feature has entered the beta testing phase and increased limits. Users with account value below $25 million can use BTC and HYPE as collateral to trade perpetual contracts, spot, and outcome markets.

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HYPE printed a fresh all-time high near $77 in June 2026, then pulled back toward the mid-50s. With a fee-funded buyback engine pulling one way and a multi-year unlock pulling the other, $100 is possible but far from a given. Here is the realistic path, and what has to break right.

Summary

HYPE can reach $100 in 2026, but it is a bull-case outcome. Hyperliquid’s buyback engine creates real token demand from platform fees. The unlock schedule is the main force working against the buyback. Volume, regulation, ETF flows, and new markets decide whether the path opens. Hyperliquid’s HYPE token reached a new all-time high of roughly $77 in June 2026 before pulling back toward the mid-50s, and the move reignited the question its holders keep asking: can HYPE reach $100 before the year is out?

From the mid-50s, that target is a climb of roughly 70% to 80%, an ambitious but not absurd move for a token that has already delivered enormous gains since its late-2024 launch. The answer is not a simple yes or no, because HYPE sits at the center of an unusually clear tug-of-war.

On one side is a buyback engine that funnels almost all of the platform’s trading fees into buying and burning the token. On the other is a large multi-year schedule of token unlocks that keeps adding supply.

Whether HYPE hits $100 in 2026 depends on which of those forces wins, and on whether the platform’s growth catalysts arrive before its risks bite. This piece lays out the realistic path to that number, and the conditions that would have to break right for it to happen.

A note on what this is and is not: this is an analysis of scenarios and the forces that drive them, not a prediction presented as fact and not investment advice. Price targets in crypto are educated framings of probability, not promises, and anyone who tells you with certainty where a volatile token will trade in six months is guessing.

What follows covers where HYPE stands now, the buyback mechanism that gives it a structural floor, the supply overhang that opposes it, the growth catalysts that could power a run to triple digits, the risks that could cap it well short, what the broader market is actually betting, and three concrete scenarios, bull, base, and bear, for how 2026 could play out.

The goal is to give a holder a framework for thinking about the $100 question rather than a false promise about the answer.

Where HYPE stands right now Begin with the lay of the land, because the starting point shapes everything.

Hyperliquid is the dominant decentralized perpetual-futures exchange, a platform where traders take leveraged positions on crypto and, increasingly, on other assets, with its order book and matching engine running fully on its own high-performance blockchain.

Its token, HYPE, reached an all-time high near $77 in mid-June 2026 and has since corrected toward the mid-50s, giving it a market capitalization in the rough vicinity of $15 billion and a top-ten ranking among all cryptocurrencies.

That places HYPE among the most valuable tokens in the market, a remarkable ascent for an asset that launched at around $7.50 little more than a year and a half earlier. Hyperliquid also stands out because it was built without the usual venture-capital-heavy launch structure, with a large share of supply distributed to users instead of insiders.

The supply structure is central to any price discussion, so it is worth stating plainly. HYPE has a maximum supply approaching 1 billion tokens, but only a fraction of that, somewhere around a quarter, is currently circulating and tradeable.

The gap between the circulating supply and the eventual total is large, which means a great deal of HYPE is not yet on the market and will enter circulation over the coming years. This matters enormously for the $100 question, because price is a function of both demand and the supply it must absorb.

To reach $100 from the mid-50s, HYPE needs demand to grow faster than incoming supply. The entire bull-versus-bear debate around the token can be reduced to a single contest: the buyback engine adding demand on one side against the unlock schedule adding supply on the other.

Understanding both sides is the key to a grounded view of where HYPE can realistically go.

The buyback engine: HYPE’s structural floor The feature that makes HYPE unusual, and that anchors the bull case, is its buyback mechanism, which ties the token’s value directly to the platform’s success in a way few tokens can claim.

Hyperliquid directs the overwhelming majority of the trading fees its exchange generates, on the order of 97% to 99%, into a fund that continuously buys HYPE on the open market and removes it from circulation. In effect, the platform uses its revenue to repurchase its own token, much as a company might buy back its shares, creating a direct and automatic link between trading activity and token demand.

The more volume Hyperliquid handles, the more fees it collects, the more HYPE it buys, and the more upward pressure builds on the price. That makes the product driving Hyperliquid’s fees central to the investment case.

This is a genuinely powerful mechanism, because it grounds HYPE’s value in something concrete rather than pure speculation. Hyperliquid has processed trillions of dollars in cumulative trading volume and generated hundreds of millions in revenue, and it commands a dominant share of all on-chain perpetual trading.

That means the fee stream feeding the buyback is large and real.

For holders, the buyback acts as a kind of structural floor and a source of steady demand. As long as the platform keeps generating heavy volume, the fund keeps buying, which can offset selling pressure and support the price even in quiet markets.

It is the single strongest argument for HYPE reaching $100, because it converts the platform’s commercial success directly into token demand. But a floor is only as strong as the revenue beneath it, and the buyback has a formidable opponent on the other side of the ledger.

The supply overhang: the buyback’s opponent The force working against the buyback is the token unlock schedule, and it is substantial enough that no honest forecast can ignore it.

Because only about a quarter of HYPE’s eventual supply currently circulates, a large quantity of tokens, including allocations to the team and early contributors, is scheduled to unlock and enter the market gradually over a multi-year period stretching into the latter part of the decade.

Each unlock increases the circulating supply, and unless demand rises to match, that new supply weighs on the price. This is the central tension in HYPE’s structure: the buyback engine pulls supply out of circulation while the unlock schedule pushes new supply in, and the token’s trajectory depends on which force is stronger at any given moment.

For readers who want the base framework, reading HYPE’s unlock schedule starts with the tokenomics that decide whether demand is outrunning dilution.

The math of this contest is what determines whether $100 is reachable. If Hyperliquid’s trading volume stays high enough that the buyback removes tokens faster than, or at least as fast as, the unlocks add them, the net supply pressure stays manageable and demand growth can lift the price.

If volume falters, or if the unlocks accelerate beyond what the buyback can absorb, then per-token gains become constrained even if the platform’s overall value grows, because the same value is spread across more tokens.

This is the dilution risk, and it is the most important reason to temper expectations: a platform can succeed commercially while its token underperforms if supply growth outpaces the buyback.

So the buyback floor is real but conditional, and the condition is sustained, heavy trading volume. The entire $100 thesis rests on the buyback continuing to win its tug-of-war with the unlocks, which in turn rests on the catalysts that drive volume.

The growth catalysts that could power $100 For HYPE to reach $100, the buyback needs to keep winning, and that requires the platform’s volume and revenue to keep growing. That is where Hyperliquid’s expanding product surface comes in.

The most important catalyst is the opening of the platform to permissionless markets, a feature that lets third parties create their own perpetual-futures markets for assets beyond core crypto. Within months of launching, this capability was already generating a meaningful slice of the platform’s revenue and powering record trading days in markets for commodities such as silver and oil.

Expanding the universe of tradeable assets is the most direct way to grow volume, and therefore the most direct path to a higher token price.

Several other catalysts stack on top. The platform has been adding prediction-style markets and shorter-dated options, broadening its appeal beyond leveraged crypto traders to a wider audience.

Its full smart-contract layer lets outside developers build applications, vaults, and structured products on the same infrastructure, turning a single exchange into a programmable financial ecosystem and creating more activity that generates fees. Spot trading, real-world assets, and synthetic equities extend the platform further still.

That is why how on-chain exchanges work matters here: Hyperliquid is no longer only a perp venue, but a broader on-chain financial stack trying to pull more trading into one system.

One of the clearest examples is the growth of pre-IPO and synthetic private-market trading on Hyperliquid, including activity tied to SpaceX exposure through HIP-3 markets. That widens the platform beyond standard crypto pairs and shows how permissionless markets can turn outside narratives into fee-generating trading activity.

A new and potentially significant source of demand has also appeared in the form of regulated exchange-traded products that give traditional investors exposure to HYPE without holding it directly. Those products create another possible bid outside native crypto traders.

If these catalysts compound, each adding volume and fee revenue, the buyback grows more powerful, the supply pressure is more easily absorbed, and the path toward $100 opens. The bull case is essentially a bet that this product expansion keeps feeding the engine faster than the unlocks can drain it.

The risks that could cap it A grounded forecast has to weigh the catalysts against the risks, and HYPE faces several that could keep it well short of $100.

The most prominent is regulation. Hyperliquid operates in a legally gray area in some jurisdictions, including restrictions affecting access in the United States, and the traditional derivatives establishment has been pressing regulators to bring platforms like it under tighter oversight, citing concerns about manipulation and the kinds of permissionless markets that drive its growth.

A regulatory clampdown could limit the products Hyperliquid offers, impose new requirements that slow its expansion, or restrict its addressable market, any of which would cut into the trading volume that feeds the buyback. That is why the regulatory cloud over perp venues matters: the legal treatment of perpetual futures is no longer a side issue for platforms built around them.

Regulatory risk is the single largest external threat hanging over the token.

Competition is the second major risk. Hyperliquid commands a dominant share of on-chain perpetual trading, but that dominance invites attack, and large centralized exchanges, other decentralized venues, and new entrants are all chasing the same lucrative market.

If competitors replicate Hyperliquid’s features or undercut it on incentives, they can erode its market share and compress the trading fees that fund the buyback. Lower fees mean a weaker buyback, which means less support for the token.

Layered on these are the ordinary hazards of a crypto-market token. HYPE’s fortunes are tied to overall risk appetite, and in a risk-off environment, exchange tokens and high-beta assets tend to fall sharply regardless of fundamentals.

Perpetual-trading volume itself can also shrink when volatility and speculation dry up. So the risks form a coherent bear vector: regulation or competition shrinks volume, volume shrinks the buyback, the buyback can no longer outrun the unlocks, and the token’s supply pressure reasserts itself.

Any of these materializing would push $100 further out of reach.

What the market is actually betting It helps to see where the wider market lands on the $100 question, because the spread of opinion reveals how genuinely uncertain it is.

On prediction markets, where people bet real money on outcomes, the crowd in mid-2026 leaned toward HYPE surpassing $80 before year-end, with a smaller majority expecting it to clear $90, and a substantial minority, somewhat under half, betting it would exceed $100.

On the downside, bettors assigned high odds to HYPE trading below $50 at some point, reflecting awareness of the volatility and the unlock pressure. In other words, the market treats $100 as a real possibility but not the most likely outcome, with meaningful probability on both a strong run higher and a pullback lower.

Analyst forecasts span an even wider range, which is itself informative. Toward the cautious end, some firms project HYPE averaging in the high $30s to high $50s across 2026, essentially expecting the token to hold near or modestly above current levels.

In the middle, several see a return toward or past the all-time high if adoption continues. At the bullish extreme, one prominent investor has floated a target as high as $150, premised on the buyback engine, organic volume growth, and the expansion into prediction markets and options all firing together.

The enormous spread, from the high $30s to $150, is not a sign that the analysts are useless. It is an honest reflection of how much HYPE’s outcome depends on variables that are truly unknown, chiefly whether volume growth outpaces the unlocks and whether regulation intervenes.

The responsible reading of the consensus is that $100 is plausible in a strong scenario, roughly a coin-flip-or-worse proposition by year-end, and dependent on the bull catalysts materializing.

Bull, base, and bear scenarios for 2026 The cleanest way to hold all of this together is to lay out three scenarios, each with the conditions that would produce it, so the $100 question has context rather than a single false answer.

In the bull scenario, HYPE reaches and possibly exceeds $100. This requires the catalysts to compound: permissionless markets and new products driving trading volume sharply higher, the buyback consequently absorbing the unlocks with room to spare, exchange-traded product inflows adding a steady new bid, no serious regulatory blow landing, and a generally favorable crypto market providing tailwinds.

In that world, the buyback engine wins its tug-of-war decisively, demand outstrips the incoming supply, and the token reprices toward triple digits and beyond. It is a coherent path, but it requires most things to go right at once.

In the base scenario, the most probable of the three, HYPE spends 2026 trading in a wide band, roughly the mid-$40s to the low $70s, without a durable break to $100. Here the buyback and the unlocks roughly offset each other, volume grows but not explosively, and the token chops within range as catalysts and headwinds trade blows.

This is the unremarkable but likely outcome: a strong platform whose token consolidates after a big run, holding its value without delivering the parabolic move bulls hope for.

In the bear scenario, HYPE falls toward the $20s to low $40s. This is what a regulatory shock, a loss of market share to competitors, a slump in trading volume, or a broad risk-off downturn would produce, any of which would weaken the buyback and let the unlock supply drag the price down.

The key insight across all three is that $100 is specifically a bull-scenario outcome. It is not the base case, and it requires favorable conditions to align.

HYPE reaching $100 is possible. It is the optimistic branch, not the expected path.

The reflexive edge of the buyback, in both directions There is a subtler dynamic inside the buyback model that deserves attention, because it is what gives HYPE both its explosive upside and its hidden fragility: the mechanism is reflexive.

That means its parts feed back on one another in a loop that runs powerfully in whichever direction it is already moving. On the way up, the loop is a thing of beauty for holders.

Heavy trading volume generates large fees, the fees fund aggressive buybacks, the buybacks lift the price, the rising price draws attention and new traders to the platform, and that fresh activity generates still more volume and fees, which funds still more buying.

Each turn of the wheel reinforces the next, and in a strong market this is exactly how a token makes a 70% or 80% move toward a target like $100 look almost effortless. The buyback does not just support the price; it can compound a rally.

The trouble is that the same wheel turns in reverse with equal force. If trading volume falls, whether because of a market downturn, a regulatory blow, or competitors stealing share, the fees shrink, the buyback weakens, the diminished buying lets the price slide, the falling price dims the attention and excitement that drew traders in, and the quieter platform generates even less volume, which shrinks the fees further.

A virtuous circle becomes a vicious one, and the descent can be as self-reinforcing as the climb. This is the part of the buyback story that bullish framings tend to skip: a mechanism celebrated as a structural floor is only a floor while volume holds, and volume is exactly the thing that evaporates fastest when sentiment turns.

The buyback does not insulate HYPE from a downturn. In a real one, it can amplify the fall by weakening precisely when support is most needed.

For the $100 question, this reflexivity is the hinge that explains why the outcome is so binary and so dependent on conditions. In a favorable environment, the loop spins upward and $100 becomes very reachable, because demand feeds on itself.

In an unfavorable one, the loop spins downward and the token can fall far below current levels for the same self-reinforcing reason. There is less stable middle ground than a simple “buyback equals floor” story implies, because the model is built to accelerate moves, not to dampen them.

A holder betting on $100 is therefore betting not just that the platform grows, but that it grows in a market calm enough to let the reflexive engine spin upward without a shock large enough to throw it into reverse.

The buyback is a genuine edge, but it is an edge that cuts both ways, and respecting the downside is the difference between understanding HYPE and merely cheering for it.

So can HYPE reach $100 in 2026? Bringing it together, the honest verdict is that HYPE can reach $100 in 2026, but it is not the most likely outcome, and getting there requires a specific stack of things to go right.

The buyback engine has to keep winning its contest with the unlocks, which means trading volume has to stay heavy and ideally grow, powered by the platform’s expansion into new markets and products. A fresh source of demand, most plausibly exchange-traded products channeling outside capital in, has to add a sustained bid.

The major risks, regulation above all, then competition and a market downturn, have to stay contained. And the broader crypto market has to cooperate, because even the best token struggles to make a 70% to 80% move in a hostile tape.

When all of those align, the path to $100 is real and even straightforward, because the buyback turns volume into relentless token demand.

The realistic conclusion is one of conditional possibility instead of confident prediction. In a strong, catalyst-driven, risk-on 2026, $100 is achievable and the bull case is coherent.

In a flat or choppy year, the base case of wide-range consolidation is more likely, and the token holds its value without reaching the milestone. In a hostile year, the bear case pulls it well below current levels.

For a holder or watcher, the practical takeaway is to monitor the variables that actually decide it: Hyperliquid’s trading volume and fee revenue, the pace of unlocks against the pace of buybacks, the flows into the new exchange-traded products, and any movement on the regulatory front.

Those metrics, not any single price target, will tell you in real time whether HYPE is on the road to $100 or settling into its range. The number is reachable.

It is simply not promised, and anyone who treats it as a sure thing is ignoring the unlock schedule, the regulatory cloud, and the plain fact that crypto rarely moves in a straight line.

Frequently asked questions Can HYPE realistically reach $100 in 2026? It is possible but not the most likely outcome. From the mid-50s, $100 is a roughly 70% to 80% climb, achievable for a token this volatile but requiring favorable conditions to align: sustained high trading volume feeding the buyback, growth catalysts like new markets and exchange-traded products adding demand, contained regulatory risk, and a cooperative crypto market. $100 is best understood as a bull-scenario target instead of the base case, which is closer to wide-range consolidation in the mid-$40s to low $70s.

What is the HYPE buyback and why does it matter? Hyperliquid directs roughly 97% to 99% of its trading fees into a fund that continuously buys HYPE on the open market and removes it from circulation, similar to a company buying back its shares. This ties the token’s demand directly to the platform’s trading activity: more volume means more fees, more buybacks, and more upward pressure on the price. The buyback acts as a structural floor and is the strongest argument for HYPE rising, but it depends entirely on the platform maintaining heavy trading volume.

What is the biggest risk to HYPE’s price? Regulation is the largest external risk. Hyperliquid operates in a legal gray area in some jurisdictions, including access restrictions in the United States, and traditional derivatives firms have urged regulators to tighten oversight of platforms like it. A clampdown could limit its products, slow its growth, or shrink its market, cutting the trading volume that feeds the buyback. Competition eroding its market share and fees, and a broad crypto downturn reducing trading activity, are the other major risks that could cap the price.

Why does HYPE’s token unlock schedule matter? Only about a quarter of HYPE’s eventual supply currently circulates, with a large quantity scheduled to unlock gradually over several years. Each unlock adds supply, and unless demand rises to match, it weighs on the price. This creates HYPE’s central tension: the buyback removes tokens while unlocks add them. If trading volume keeps the buyback strong enough to absorb the unlocks, the price can rise; if volume falters and unlocks outpace buybacks, per-token gains are constrained even if the platform grows.

What are analysts predicting for HYPE in 2026? Forecasts span a very wide range, reflecting genuine uncertainty. Cautious projections see HYPE averaging in the high $30s to high $50s, essentially holding near current levels. Middle estimates expect a return toward or past its all-time high if adoption continues. The most bullish forecasts float targets as high as $150 if the buyback, volume growth, and new markets all fire together. Prediction markets in mid-2026 leaned toward HYPE clearing $80, with under half betting on $100.

What should I watch to judge where HYPE is heading? Track the variables that actually decide the outcome instead of any single price target. The most important is Hyperliquid’s trading volume and fee revenue, which power the buyback. Then watch the pace of token unlocks against the pace of buybacks, inflows into the new HYPE exchange-traded products, the platform’s expansion into new markets and products, and any regulatory developments affecting perpetual-trading venues. Those metrics will tell you in real time whether the buyback is outrunning supply and whether the path toward $100 is opening or closing.

This article is information, not investment advice. Price scenarios are uncertain framings, not predictions, and cryptocurrency is highly volatile. Figures for Hyperliquid and HYPE reflect reporting available as of June 25, 2026, and can change quickly. Do your own research and verify current data from primary sources before making any decision.

Bitcoin (BTC) is trading above $77,000 at press time on Thursday, easing downside pressure amid the wipeout of $180 million in crypto shorts over the last 24 hours. In the same period, Hyperliquid (HYPE), Dash (DASH), and Zcash (ZEC) led the broader market rally on intense Exchange Traded Fund (ETF) inflows and renewed demand for privacy coins.

Mild recovery in Bitcoin eases broader market stressBitcoin trades above $77,000 on Thursday, extending gains from the previous day. The near-term recovery with a rebound from its 50-day Exponential Moving Average (EMA) suggests a reversal to its 200-day EMA around $82,000. Typically, altcoins mimic Bitcoin's recovery following a pullback. 

CoinGlass data shows $262 million in total liquidations over the last 24 hours across the market, led by $182 million in short liquidations, pointing to a forced bearish positional wipeout.

Crypto liquidation data. Source: CoinGlassHyperliquid and privacy coins eye further gainsHyperliquid is extending a strong bullish phase that has reached a seven-month high, driven by recent $22 million in ETF inflows. The everything exchange token holds well above the 50-day EMA at $42.40 and the 200-day EMA at $36.95, which together suggest a firmly established uptrend. The underlying upward-sloping trendline breakout around $53.00 further reinforces the constructive structure.

Momentum remains robust, with the Moving Average Convergence Divergence (MACD) indicator in positive territory and the Relative Strength Index (RSI) hovering in overbought territory near 76, hinting that while buyers are in control, conditions are becoming stretched.

Looking up, the all-time high of $59.45 remains a key resistance level, and a breakout above it would signal a shift into price discovery mode.

HYPE/USD daily price chart.On the downside, initial support is seen at the broken trendline around $53.00, followed by R2 and R1 Pivot Points at $51.30 and $45.52, respectively.

DASH hovers around $50 on Thursday after a 20% surge the previous day, maintaining a bullish near-term bias. The privacy coin trades well above the 50-period EMA at $44.48 on the 4-hour chart and the 200-period EMA at $42.05, driven by the hopes of Zcash Orchard Shielded Pool integration.

Bullish momentum is rising, as indicated by a positive MACD and an RSI near 72, which hints at firm buying pressure but signals concerns about overbought conditions.

A sustained break above the 61.8% retracement at about $51.11, measured over the downswing from $58.09 to $39.84, would open the way toward the 78.6% level near $54.18.

DASH/USDT daily price chart.Initial support is seen well lower at the 50% retracement level at $48.96, followed by the 38.2% Fibonacci retracement level at $46.81.

Zcash maintains a clear bullish bias as price trades above $665 on Thursday, well above both the 50-day and 200-day EMAs, clustered around $445 and $335. The privacy coin has also pushed decisively through the 78.6% Fibonacci retracement at $628, measured from $750 to $104, suggesting a steady recovery.

The RSI is around 72, hinting at overbought conditions but still constructive momentum, while the MACD remains in positive territory, suggesting that upside pressure persists despite increasingly stretched conditions.

Looking up, the next meaningful resistance is the recent swing high, aligned with the 100% Fibonacci retracement at $750, where buyers could begin taking profits.

ZEC/USDT daily price chart.On the downside, initial support lies at the 78.6% retracement at $629, followed by deeper Fibonacci cushions at $534 and $467.

(The technical analysis of this story was written with the help of an AI tool.)

Ethena Price Trend and Hyperliquid Struggles While BlockDAG $385M Presale Dominates Headlines

8h05 ▪ 5 min read ▪ by Ariela R.

Summarize this article with:

Decentralized finance is going through one of its worst phases since 2022. According to CryptoRank data, DeFi TVL has dropped by 39% since the beginning of the year. It went from 115 billion dollars in January to about 70 billion in June 2026. In six months, nearly 45 billion dollars of capital have thus left the DeFi ecosystem. This hemorrhage raises a fundamental question: is this a cyclical crypto correction or a deeper structural signal?

In brief According to CryptoRank, DeFi TVL has dropped 39.1% since January 2026. Ethereum remains the leading DeFi ecosystem with 38.9 billion dollars TVL. Among the top 10 crypto blockchains by TVL, only Tron and Hyperliquid recorded growth this year. 121 security incidents caused about 942 million dollars in losses. DeFi TVL in free fall since January 2026 According to onchain analyses published by CryptoRank on June 24, 2026, DeFi TVL has decreased each month since January. This uninterrupted monthly decline represents a cumulative loss of about 45 billion dollars in half a year. It is equivalent to the total capitalization of several major altcoins evaporated from the crypto sector.

This DeFi decline is primarily explained by the generalized crypto market correction. Bitcoin had reached an all-time high above $122,000 in October 2025, thus bringing the total market capitalization to 4.21 trillion dollars. Since then, the pullback has been sharp:

Total capitalization hovered around 2.15 trillion dollars at the end of June 2026, a nearly 50% contraction from the peak. Bitcoin has lost more than 28% since January 1, Ethereum 43%, and Solana more than 43%. This relationship is mechanical: a large part of DeFi TVL is denominated in native assets (ETH, SOL, BNB), whose dollar value has sharply declined. The contraction of DeFi TVL thus reflects both user flight and depreciation of assets locked in crypto protocols.

Crypto network Ethereum still dominates, Arbitrum in free fall The hierarchy of crypto blockchains by TVL remains dominated by Ethereum with 38.9 billion dollars. This alone represents more than half of the entire global DeFi TVL.

Among the top ten chains, Arbitrum records the largest proportional contraction: -55.3% at 1.3 billion dollars. This level brings Ethereum’s layer-2 back to its end-2022 capital.

BNB Chain (-22.7%) and Base (-5.2%) fare better, while Solana falls by 40.5% to 4.93 billion dollars. This level remains significant but is markedly down from the ambitions displayed in 2025.

Ranking of DeFi protocols according to their TVL (Source: CryptoRank) Tron and Hyperliquid, the two exceptions worth attention In this generally degraded picture, two crypto blockchains stand out as anomalies. Tron and Hyperliquid are indeed the only ones among the top ten by TVL to have recorded positive growth in 2026.

Tron shows a 5% increase, raising its TVL to 4.63 billion dollars. This resilience is explained more by its function than by a resurgence of speculative activity. Tron remains the crypto network of reference for settlement in USDT (Tether stablecoin). A large portion of its TVL is concentrated in staking, lending, and stablecoin transaction protocols.

Rising 6.7% to 1.52 billion dollars, Hyperliquid presents a more interesting profile from a usage perspective. Having become the leading onchain perpetual contracts market, the crypto protocol attracted regular flows throughout the year thanks to its expanding HyperEVM ecosystem (lending, liquid staking, and DeFi primitives). According to Fortune, it even appears in the Crypto 100 ranking.

121 crypto hacks in 2026: the second factor in the DeFi debacle The crypto market correction is not the only cause of the decline of DeFi TVL. A wave of rare intensity hacks has significantly increased the pressure on the sector.

According to CryptoRank, 121 hacks have been recorded since the beginning of the year for total losses amounting to roughly 942 million dollars. Worse yet! Only the second quarter of 2026 concentrated 85 crypto incidents, representing about 775 million dollars stolen. This makes Q2 2026 the most active quarter ever recorded in terms of exploits.

The two most devastating attacks occurred in April, within a few days:

Drift Protocol suffered a breach estimated between 280 and 295 million dollars. KelpDAO was victim to a LayerZero cross-chain bridge vulnerability that cost it 293 million dollars. Alone, these two crypto attacks represent more than half of the sector’s annual losses.

One thing is certain: the DeFi market is undergoing a marked correction in 2026. The ability of crypto protocols to restore technical trust will be the main performance indicator to watch in the coming months.

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

8 minutes ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

8 minutes ago

US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.

A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.

8 minutes ago

CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.

According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.

8 minutes ago

Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.

E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)

8 minutes ago

The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.

According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.

8 minutes ago

Table of contents

This week showed good sign of strength for the cryptocurrency market as many different projects continue to post solid gains; DeFi derivative platforms and Web3 mobile tokens were leading the way with double-digit growth. Specifically, Seeker (SKR), Decred (DCR), MYX Finance (MYX), and Hyperliquid (HYPE) had strong performances at over 12% gain.

Seeker Token Surges on Solana Mobile Momentum With Seeker (SKR) increasing a whopping 52% this past week to give a total market cap of more than $130 million; it is now one of the most significant players in mobile Web3 with a price of about $0.02. Launched on January 21, 2026, this native token for Solana Mobile’s second-generation smartphone ecosystem has weathered storms and continues to grow.

Its value is primarily due to its specific utility in the Seeker device ecosystem, such as providing users with the ability to participate in governance, receiving 23.8% annual staking rewards, and access to an SKR commission-free app store. Airdropped nearly 2 billion SKR coins to over 100,000 Seeker smartphone users, as well as 188 early developers of apps.

The Seeker ecosystem produced 9 million transactions and $2.6 billion in total for 265+ dApps during its inaugural season, as per Cryptopolitan. The number of transactions shows a demonstrated level of actual users engaging with the ecosystem that is not only being used for speculation.

Decred and Privacy Focused Cryptocurrencies Gain Traction During the last week, Decred (DCR) was able to gain a lot of investor interest as it posted a 35.6% weekly gain due to a resurgence of interest from investors in cryptocurrency projects that are centered on protecting the privacy of their users from financial surveillance. In addition to being a veteran project within the industry, Decred also incorporates both a POW and POS consensus model in order to create an innovative governance structure.

Decred (approx $23.79) is experiencing increased activity with institutional research reports bringing attention to the hybrid consensus model. The recent implementation of atomic swap technology and improved privacy features via StakeShuffle will provide users who want to send transactions that aren’t censored with another source of fiat currency. Approximately 60% of Decred’s total supply is currently staked, reflecting the community’s robust confidence in Decred.

MYX Finance and Hyperliquid Lead DeFi Derivatives Revival The rise in market value for MYX Finance (+17.76%) and Hyperliquid (+12.78%) indicates a notable shift towards decentralized derivatives trading systems. They are the new generation of DeFi (Decentralized Finance) infrastructure that combines the transparency and security of decentralization with performance metrics used by central exchanges.

MYX Finance, priced at $5.99 per unit and boasting a market capitalization of $1.5 billion, stands out as a frontrunner in the derivatives trading arena. The V2 upgrade of the platform promises zero slippage and cross chain-capable trading. Therefore, the price feeds of derivatives trades will be more reliable due to Chainlink Data Streams being integrated into the platform.

Both companies show a trend in the marketplace for products that have an established use case and a business model for generating income. On February 4, 2026, Hyperliquid made its first direct connection with institutions, allowing traditional finance businesses to trade on-chain derivatives through a licensed counter-party.

Conclusion This week’s top gainers have a diverse theme that reflects certain trends in the crypto market. Infrastructure plays, like MYX Finance or Hyperliquid, are gaining traction among investors as more of them place value on projects that provide real-world utility and have sustainable revenue sources.

Moreover, Seeker’s performance shows that there remains a strong demand from the marketplace for innovation in terms of how to adopt cryptos, especially on mobile devices. Thus, for any investor looking to take advantage of these opportunities, the focus should still be based on fundamentals rather than short-term price action.

AUTHOR

Farhan Karim is a technology writer and content strategist with 15+ years of experience writing thousands of articles, blogs, whitepapers, and ebooks on Blockchain, Cryptocurrency, and other tech niches. His expertise in content strategy, SEO, and a keen eye on the ever-evolving tech space have led him to work with companies like Pepsi, Huawei, Arab News, and now Blockchain Reporter.

Silver Bleeds $48 Million as Oil Pressure Roars Back

DeFi Total Value Locked Slides Every Month in 2026 to $70 Billion

US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.

A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.

1 seconds ago

CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.

According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.

1 seconds ago

Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.

E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)

1 seconds ago

The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.

According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.

1 seconds ago

US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.

According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.

1 seconds ago

Micron Technology surges 18% in pre-market trading on US stocks

According to Bitget market data, the US stock storage sector is seeing broad pre-market gains. Micron Technology (MU.O) jumps 18% in pre-market trading, as its strong earnings significantly exceeded expectations, with multiple major banks raising the stock’s target price. SanDisk (SNDK) rises 12.25%, Western Digital (WDC) gains 12.05%, and Seagate Technology (STX) climbs 8.63%.

1 seconds ago

The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.

According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.

1 seconds ago

US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.

According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.

1 seconds ago

Micron Technology surges 18% in pre-market trading on US stocks

According to Bitget market data, the US stock storage sector is seeing broad pre-market gains. Micron Technology (MU.O) jumps 18% in pre-market trading, as its strong earnings significantly exceeded expectations, with multiple major banks raising the stock’s target price. SanDisk (SNDK) rises 12.25%, Western Digital (WDC) gains 12.05%, and Seagate Technology (STX) climbs 8.63%.

1 seconds ago

SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.

According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.

1 seconds ago

Arthur Hayes Sparks Fury After Abrupt Worldcoin Exit, WLD Price Falls 10%

Zcash (ZEC), NEAR Protocol, and Hyperliquid (HYPE) edge higher on Tuesday, extending their recovery so far this week. Retail and institutional demand heats up for altcoins, fueling a rebound as prices fully absorb the impact of Arthur Hayes's exit. 

Demand revives week for Trinity after Arthur Hayes exitArthur Hayes dumped all his holdings of Hyperliquid and NEAR Protocol earlier this month, followed by Zcash due to the counterfeiting vulnerability exposed in Zcash’s Orchard Shielded Pool. More than a week after his exit, these altcoins reflect a nearly synchronized V-shaped reversal. 

Retail interest rebuilds in the ZEC, NEAR, and HYPE futures amid the minor rebound. CoinGlass data show ZEC and NEAR Open Interest (OI) rising to $1.24 billion and $558.20 million, respectively, reflecting an upward tick in the OI charts, closing toward last month's $1.67 billion and $857.21 million peaks.

In the case of Hyperliquid, OI is up roughly 13% to $3.12 billion on Monday, while the institutional support resurfaces. SoSoValue data show that HYPE-focused ETFs recorded $17.19 million in inflows, supporting its 4% gains on Monday.

Zcash and NEAR Protocol Open Interest charts. Source: CoinGlass

HYPE derivatives data. Source: CoinGlassZcash extends steady recovery above $500Zcash hovers above $500 at press time on Tuesday, holding a constructive bullish bias as it remains well above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) clustered between roughly $375 and $480.

The 78.6% Fibonacci retracement at $595, measured over the downswing from $690 to $250, now underpins the advance as nearby resistance. A decisive close above this zone could open the path toward the $800 mark.

Momentum gradually gains strength on the daily chart, with the Moving Average Convergence Divergence (MACD) crossing above the signal line, while the Relative Strength Index (RSI) at 54 hint that positive momentum is building without yet reaching overbought conditions.

ZEC/USDT daily price chart.Looking down, the $500 psychological mark, close to the 50-day EMA at $478, serves as a crucial support zone, followed by the 50% retracement level at $470 and the 100-day EMA at $433.

NEAR Protocol extends recovery to $2.50NEAR Protocol edges higher by over 4% at press time on Tuesday, approaching the $2.50 mark with its fourth consecutive day of rally. The AI token holds a constructive bullish bias as price sits well above the 50-, 100-, and 200-day EMAs clustered between roughly $1.74 and $1.98. This positioning suggests the broader uptrend remains intact, while the RSI at around 60 on the daily chart indicates positive but not overextended momentum. Meanwhile, the MACD is on the verge of crossing above its signal line, hinting that bullish pressure may be rebuilding.

The 78.6% Fibonacci retracement level at $2.68, followed by the $3.18 peak from November 8 serve as overhead barriers.

NEAR/USDT daily price chart.On the downside, initial support is seen at the 61.8% Fibonacci retracement at $2.28, with further reinforcement from the 50% retracement near $2.01 and the 50-day EMA at $1.98.

Hyperliquid rally targets a new record highHyperliquid trades above $70 at the time of writing on Tuesday, extending gains for the sixth consecutive day. The rebound in HYPE from the 50-day EMA last week now forms a V-shaped reversal on the daily chart, targeting the $75.76 level.

From a technical perspective, a daily close above this zone would drive HYPE into price discovery mode, potentially targeting the 127.2% and 161.8% Fibonacci retracement levels at $82.03 and $90.02, respectively.

Momentum remains strong on the daily chart, with the RSI rising to 64 and the MACD crossing above its signal line, reaffirming renewed bullishness.

HYPE/USD daily price chart.Looking down, the 50% retracement at $64.21 serves as the primary support floor for HYPE, as sellers regain control around $75.

(The technical analysis of this story was written with the help of an AI tool.)

Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

MyTonWallet Rebrands to My Wallet After Expanding to 11 Blockchains

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DeFiLlama, the largest data aggregator and dashboard for Decentralized Finance (DeFi), has displayed the list of Top 15 Projects by weekly TVL Growth. Total Value Locked (TVL) means the total dollar value of cryptocurrency assets locked within a certain decentralized finance (DeFi) protocol. Wildcat Protocol ($Wildcat) stands at the first position with $26.8M in TVL, after increasing the change of +107%, in the given list of other top projects over the past 7 days.

In the same way, Sentora Network ($Sentora) is in the Second position in this race with $1.2B in TVL, with a change of +85.6%. Phoenix has released this news through its official X account after collecting data from different platforms.

Fantom and Hyperliquid Climb TVL Rankings with Strong Weekly Gains Fantom ($FT) and Hyperliquid ($HYPE) got third and fourth position with $64.1M after getting +24.7% increase and $523.1M with +21.0% increase in value, in TVL, respectively. Hyperliquid ($HYPE) has a Market Cap of $7.5B. These two Projects show a massive difference in terms of TVL, about 459M.

Simultaneously, Mito Finance ($MITO) stands with $2.1M with a change of +18.4% in TVL, and Notional Finance ($NOTE) at a new value of $15.1M after getting an increase of +15.7% in TVL, respectively. Mito Finance ($MITO) has a Market Cap of $10.7M.

In addition, more projects are fighting to survive in this list over the past week. In this Altura ($ALU), Datamine Network ($DAM), and Pax Gold ($PAXG) gained $3.1M with an increase of +13.5%, $54.5M with an increase of +10.0%, and $2.3B after getting a +8.9% increase in TVL, respectively. These three crypto coins have a middle position in the given list of Top projects over the past week.

$BIFI, $LON and $NEAR Show Diverging Momentum Beefy ($BIFI), Tokenlon Network Token ($LON), and NEAR Protocol ($NEAR) observed with huge divergence among them, both in terms of TVL and Market Cap. $BIFI has attained a value of $286.5M with an increase of +8.5% and has a market cap of $10.6M. $LON has a new value of $1.2M after getting +8.3% increases in its value over the past week and holds a Market Cap of $38.9M.

Moreover, $NEAR gained a TVL of $55.9M, with a Market Cap of $1.4B, and gained this value after the increase of +6.2%. Securitize, Inc. ($Securitize) rose with a new value of $2.6B in TVL after a +5.8% increase.

Spiko Finance ($Spiko) and Sky Protocol ($SKY) got second last and last position, respectively. In this list, $Spiko and $SKY gained a hype of +4.1% and +3.1% in TVL value and appeared with a new value of $946.7M and $5.6B, respectively. $SKY has a Market Cap of $1.5B.

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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.

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The crypto market capitalization has moved higher over the past day, with broad gains across major coins reflecting improving investor sentiment.

At the same time, the rebound has squeezed bearish positions, with over $468.5 million in short liquidations recorded during the 24-hour window.

Crypto Liquidation Wave Hits Short SellersAccording to BeInCrypto Markets data, total market capitalization has increased by 4.29%. The majority of the top 10 cryptocurrencies have posted gains over the past 24 hours. 

Dogecoin (DOGE) jumped 9.10%, marking the strongest performance among the 10 largest cryptocurrencies. Lido Staked Ether (STETH) followed, advancing 8.83%. Ethereum (ETH) ranked third among the top performers, jumping 8.75% and reclaiming the $2,000 level.

Bitcoin (BTC) also posted notable gains, climbing 4.76% over the past day. The flagship cryptocurrency briefly touched $70,027 on Binance yesterday before retracing slightly to trade at $68,647 at press time.

Crypto Market Recovery On February 26. Source: BeInCrypto MarketsBeInCrypto reported that the rally benefited some long traders who recorded profits amid ETH’s latest rise. However, traders betting on further downside saw losses.

According to Coinglass, 128,348 traders were liquidated over the past 24 hours, with total liquidations reaching $575.59 million. Short traders bore the brunt of the losses, accounting for $468.53 million in liquidations, compared to $107.06 million in long positions. 

Crypto Market Liquidations. Source: CoinglassBitcoin alone accounted for roughly 40% of total liquidations, with approximately $194.95 million in short positions liquidated. ETH recorded $203.8 million in total liquidations during the same period, with $175.16 million stemming from short positions.

The largest single liquidation order occurred on Hyperliquid for the BTC-USD pair, valued at $10.41 million.

Leveraged positions over the past 7 days have just turned positive.

With today’s short liquidations in BTC, what remains now are longs.

The market works like this — it moves toward where weak hands are most heavily exposed.
That’s easy money for exchanges and the liquidity… pic.twitter.com/UtZ7px3KVr

— Joao Wedson (@joao_wedson) February 25, 2026 Analysts Warn Crypto Relief Rally May Not Signal Full Trend ReversalThe recent rally has sparked optimism, but analysts warn it may not mark a full trend reversal. According to XWIN Research Japan, Open Interest has fallen sharply from prior highs, signaling a broad deleveraging phase.

“The recent drop in price was accompanied by falling OI, suggesting that liquidations and derivatives-driven unwinds — rather than aggressive spot selling — played a major role in the decline. This type of reset can stabilize the market, but it does not automatically signal renewed structural demand,” XWIN Research Japan wrote.

At the same time, Binance’s Fund Flow Ratio remains low at around 0.012. Since this metric tracks BTC inflows relative to total exchange holdings, a low reading suggests limited immediate sell pressure. 

The analysis added that during the drop toward the mid-$60,000 range, the ratio did not spike. This suggested there was no panic-driven spot selling. 

However, XWIN Research Japan noted that weak inflows do not imply strong accumulation. The medium-term trend of the Fund Flow Ratio’s moving averages is trending downward. It indicates that structural demand has not yet shifted upward.

“When leverage remains suppressed, upward price moves can easily trigger short squeezes. In that case, the rally is driven more by position unwinding than by expanding structural demand,” the post read.

Analyst Darkfost also stressed that an increase in spot trading volume will be necessary for any bullish recovery or solid market bottom to develop.