Hyperliquid Leads the Green Market Rally as Trump Delays Tariffs on the EU
The cryptocurrency market saw a burst of green on Monday, with Hyperliquid (HYPER) leading the charge. The token surged by an impressive 14% over the past 24 hours, currently trading at around US$38. This rally came in response to a geopolitical development, as former U.S. President Donald Trump announced a delay in the proposed 50% tariffs on European Union goods.
In a statement, Trump said, “We had a very good call, and I agreed to move it [the tariff delay].” The news was seen as a positive catalyst for risk assets, including the crypto market, which is often sensitive to global trade policies and macroeconomic sentiment.
With this spike, Hyperliquid’s market capitalisation has climbed to US$12.9 billion, placing it 11th among the top global crypto tokens. Its 24-hour trading volume has also soared to US$435 million, indicating heightened interest from both institutional and retail investors.
But Hyperliquid wasn’t the only gainer in this green wave.
Altcoins Rally Behind Hyperliquid
Virtual Protocol (VIRTUAL) saw a healthy rise of 9%, bringing its price to approximately US$2.15. Its market cap now sits at US$1.4 billion, supported by growing enthusiasm around its cross-chain infrastructure and recent developer updates.
Meanwhile, legacy altcoin EOS (EOS) recorded a 7.4% increase, pushing its price to around US$0.70. While EOS has struggled in recent years with governance and developer adoption, today's performance hints at renewed optimism among traders.
Zcash (ZEC), a privacy-centric cryptocurrency, also gained close to 5%, while DeXe (DEXE) rose by 4.3%, benefitting from an overall shift in sentiment favouring decentralised finance and transparency-driven assets.
Market Sentiment Turns Positive—But For How Long?
The broader market response reflects a short-term bullish sentiment, spurred by hopes of reduced trade tensions between major global economies. With traditional financial markets reacting cautiously to geopolitical risks, crypto appears to be enjoying a moment of relative optimism.
However, analysts warn that volatility remains high, and the recent rally—while encouraging—could still face headwinds in the coming weeks. As traders continue to digest Trump's tariff delay and monitor macroeconomic signals, the sustainability of this upward momentum remains in question.
Still, today’s market moves underline crypto’s increasing correlation with global politics, showing once again how events far from blockchain tech can send digital assets into rally mode.
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