Hyperliquid trades near $59 and Zcash near $646 as analysts warn crowded rallies may face exhaustion after sharp weekly gains as of May 22.

HYPE wallets linked to a16z may hold $356m in tokens, making them a top external holder as Hyperliquid demand and ETF flows rise in 2026 now

Hyperliquid’s HYPE drew Bitwise backing after a 77% 2026 rally, $170b monthly volume and ETF fee pledge fueled investor attention.