Wrapped HYPE

WHYPE

Wrapped Token, derivative weights

A wrapped token, backed 1 to 1 by Hyperliquid.

STRICT score withheld.Score opens with Pro

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Tokenomicswithheld×0.24–

Weights are public.

The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.

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Research, not financial advice. Read the terms.

About Wrapped HYPE

Analysis of 16 Feb 2026

Wrapped HYPE (WHYPE) is trading at $30.79 with a 24-hour volume of $214.47M as of February 16, 2026. As the EVM-compatible version of Hyperliquid's native HYPE token, WHYPE maintains a 1:1 peg and serves as the gas token for HyperEVM, which launched in February 2025.

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The underlying HYPE token ranks #16 on CoinGecko with a $7.34B market cap. Hyperliquid leads perpetual DEXs with 70%+ market share, processing $40.7B in weekly trading volume and maintaining $1.9B TVL on HyperEVM.

The platform successfully absorbed the December 29, 2025 unlock of 9.92M HYPE tokens, with price recovering from $20 to current levels. WHYPE reached an all-time high of $59.30 in September 2025, trading 48% below peak.

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