Hyperliquid Rises 18% as ICE, Druckenmiller and Musk Fuel Rally Amid $1.49 Billion Crypto Liquidations

Over the past 24 hours, crypto traders lost $1.49 billion to liquidations as Bitcoin fell, yet Hyperliquid (HYPE) rose more than 18%. The rally was driven by Intercontinental Exchange's definitive agreement with trade(xyz), Stanley Druckenmiller's investment via his Duquesne Family Office, and Elon Musk's one-word endorsement "Interesting" on X. HYPE short sellers absorbed most of the token's $30.86 million in liquidations, while Binance's suspected hack of over $6.2 billion in impacted funds weighed on the broader market.