Svmuu reported that BIT published a daily chart stating that HYPE has been one of the strongest-performing tokens since the outbreak of the Iran conflict. The surge is largely attributed to the platform expanding beyond crypto assets into perpetual contracts linked to crude oil prices, and recently launching a SpaceX Pre-IPO perpetual contract.
This trend indicates that exchanges are increasingly launching products tied to high volatility, hot market topics, and traditional market benchmarks. Rather than a pure "crypto narrative," the underlying crypto infrastructure itself is becoming more important.
HYPE has risen over 100% from its 2026 lows, and the upward momentum remains strong. It is worth noting that although long positions with high conviction around HYPE have become relatively crowded, its outperformance relative to Bitcoin remains very prominent.