Hyperliquid's HYPE token soared to a record $59.29, propelled by a potent mix of speculative trading and a major industry rivalry. A single trader's massive $30 million leveraged long position, tracked in real-time, provided powerful momentum and signaled deep market confidence. The rally was further supercharged by the emergence of a direct competitor, ASTER, which received a public endorsement from former Binance CEO Changpeng Zhao. This move is seen as a strategic response to Hyperliquid's growing success in capturing market share from established centralized exchanges like Binance, framing the surge within a larger narrative of decentralized platforms challenging industry giants.

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