Hyperliquid (HYPE) is the top-performing cryptocurrency among the top 100 projects by market cap, surging 8% in the last 24 hours as of March 12, 2026, according to CoinGecko data. The rally, which includes gains of over 170% since March 2025, comes as major assets like Bitcoin and Ethereum face corrections. The increase is attributed to heightened tokenized oil trading on the Hyperliquid exchange and anticipation of a new portfolio margin feature, though analysts warn of a potential near-term price correction.
Hyperliquid’s HYPE token has become the best-performing cryptocurrency in the daily charts among the top 100 projects by market cap. CoinGecko data shows its price surged 8% in the last 24 hours, 18.3% over the week, and more than 170% since March 2025.
This performance stands in contrast to Bitcoin (BTC), Ethereum (ETH), and other major crypto assets, which are facing price corrections. The rally may be fueled by increased activity in tokenized traditional-finance assets on the Hyperliquid exchange.
According to Hyperion DeFi CEO Jung Hyunsun, tokenized assets like oil, metals, and currencies constitute about 30% of the exchange’s daily volume at peak hours. The surge in oil trades follows the escalation of the US/Israel-Iran conflict, potentially boosting the platform’s native token.
Another factor could be the upcoming portfolio margin feature on the exchange. This will allow traders to offset risk across positions and support larger trades with less collateral, though access is limited to traders with over $5 million in weighted trading volume.
Despite the bullish momentum, the broader bearish market scenario presents a risk of profit-taking. CoinCodex analysts anticipate a correction, predicting HYPE’s price could drop to $25.43 by March 21, 2026. This would represent a decline of nearly 32% from current levels.
