HYPE and LAB Surge: Two Altcoins Breaking Into Top Ranks

Two altcoins are commanding attention as June begins. Hyperliquid (HYPE) has broken into the top 10 cryptocurrencies by market capitalization, reaching a valuation of $16.17 billion after surpassing its previous all-time high of $59. On the BNB Chain side, LAB token has exploded into view with a market cap of $5.57 billion after a 62.4% rally in 24 hours.

Hyperliquid's Breakout Into the Top 10

HYPE's move above its prior record price is a valuation milestone, not just a price tick. A $16.17 billion market cap places it among the top 10 digital assets by that metric. This is notable because Hyperliquid is a Layer 1 blockchain focused on perpetual DEX trading, competing with established platforms like dYdX and GMX.

The simple read: HYPE broke all-time highs, so momentum traders pile in. The better market read involves on-chain liquidity and network effects. Hyperliquid's perpetuals protocol has been capturing increasing volume, and a higher token price bolsters its staking ecosystem and governance weight. The real question is whether sustained liquidity depth can absorb profit-taking at these levels. If daily trading volumes on Hyperliquid remain above the $500 million mark, the new price level may consolidate. If volume stagnates, the breakout risks becoming a liquidity exit event for early whales.

LAB Token: BNB Chain's 62% Surge in 24 Hours

LAB's 62.4% one-day surge to a $5.57 billion market cap is a sharper, faster move. The token belongs to the BNB Chain ecosystem, which often sees rapid capital rotation from meme coins to utility tokens. LAB appears to be tied to a lending and borrowing protocol on BNB Chain, though specific project details remain thin.