Hyperliquid's native token, HYPE, has surged 204% in two weeks, surpassing Near Protocol's market cap to become the 28th largest cryptocurrency at approximately $8.93 billion. The Layer-1 blockchain utilizes HyperBFT technology for over 100,000 transactions per second, offering trading fee discounts, staking, and governance participation. Despite a recent price correction, HYPE remains up 105% weekly, with strong liquidity and upcoming catalysts like new exchange listings and the HyperEVM launch expected to drive further interest.