Hyperliquid (HYPE) Daily Market Analysis 23 August 2026

Hyperliquid's HYPE token hits record highs on U.S. expansion hopes and strong protocol activity – here's the latest: • HYPE surged to ~$82.43 all-time high (22 Aug 2026), up 40% in 7 days with $17.93B market cap • Trump signaled potential compliant U.S. market entry via CFTC Chair Selig – no formal approval yet • Protocol buybacks and burns ($4.3-5.4M daily) drive bullish narrative alongside HIP-3 market expansion • Derivatives show crowded positioning: $3.61B open interest, 65.9% long accounts, positive funding at 25.8% annualized • Key risks: whale transfers to exchanges, $23.2M long liquidations in 24h, and $80.58B FDV vs $17.93B circulating cap