BIT: HYPE has risen over 100% from its 2026 low, primarily driven by trading in contracts for assets outside of crypto

According to a daily chart released by BIT, HYPE has been one of the strongest-performing tokens since the outbreak of the Iran conflict. The price increase is mainly attributed to the platform's expansion beyond crypto assets, further extending into perpetual contracts linked to crude oil prices, and recently launching the SpaceX Pre-IPO perpetual contract.

This trend indicates that exchanges are increasingly launching products with high volatility, closely tied to market hotspots, and linked to traditional market underlying assets. Compared to a purely "crypto narrative," the crypto infrastructure itself is becoming more important.

HYPE has risen over 100% from its 2026 low, and the upward momentum remains strong. Notably, although high-conviction long positions around HYPE have become relatively crowded, its outperformance relative to Bitcoin remains very prominent.