PURR Hits Record $14.15 as HYPE Token Climbs

PURR stock reached an intraday high of $14.15 after a rise in the price of Hyperliquid’s HYPE token lifted PURR’s market capitalization above $2.5 billion. Hyperliquid’s treasury holds roughly 29.4 million HYPE tokens, with an estimated market value exceeding $2.4 billion.

HYPE’s price moved from a low of $20.20 in January to an all-time high of $86.75, and most recently traded near $83.73. Hyperliquid reported roughly $10.7 billion in trading volume over the past 24 hours and open interest of about $13.6 billion. The platform recorded approximately $221 billion in transactions over the past 30 days, while other large perpetual-futures venues reported daily and monthly volumes in a range roughly between $14 billion and $50 billion during the same period.

Hyperliquid has expanded tokenized offerings on its platform. The company’s top-traded instruments include Nvidia, SK Hynix, SanDisk, the S&P 500 and oil. Company management has indicated potential plans to enter the U.S. market, a move market participants say could increase liquidity and trading activity if implemented.

Financial data show Hyperliquid generated more than $718 million in revenue over the last 12 months, placing it below a small group of large crypto firms by that measure. The firm allocates a portion of revenues to token burns and has retired over 46 million tokens, with the current market value of those burned tokens above $3.8 billion. Hyperliquid’s Layer 1 also reports a stablecoin market capitalization exceeding $6.7 billion.

On technical charts, PURR has traded above its 50-day and 100-day exponential moving averages and cleared a resistance level at $11.60, the previous high on June 1. The price sits slightly above the Murrey Math Lines’ ultimate resistance at $12.50. Some chart analysts identify $15 as the next key level to watch if the recent breakout holds.

Market participants note risks tied to concentrated token holdings. Treasury-focused and crypto-native tokens have experienced sharp reversals in past cycles; companies such as Strategy, BitMine and MetaPlanet underwent notable pullbacks after earlier rallies. Market participants say a sustained correction in HYPE could put downward pressure on PURR given Hyperliquid’s concentrated HYPE position on its balance sheet.