Hyperliquid reached a major milestone on June 1 after climbing into the top 10 cryptocurrencies by market capitalization. The token surpassed Dogecoin, pushing its valuation above $16 billion and securing a place among the industry’s largest digital assets.
According to a report from CoinGecko, Hyperliquid became only the second decentralized finance protocol to achieve this feat. The first was Uniswap, which entered the top 10 during the powerful DeFi driven bull market of 2021 that followed the 2020 “DeFi Summer.”
Strong Performance Helps HYPE Stand Out
CoinGecko attributed Hyperliquid’s rise to its ability to outperform much of the broader cryptocurrency market. While many digital assets struggled during the 2026 bear market, HYPE remained one of the few tokens that continued to show strong upward momentum.
The project has attracted significant attention in recent weeks, driven by both impressive price gains and growing community engagement. As HYPE surged to an all time high above $73, discussions surrounding the token intensified across major crypto platforms, including X, Reddit, and Telegram.
Although the token has since retreated to around $65 amid a wider market correction, market sentiment remains largely positive. Many investors and analysts view the recent pullback as a temporary pause rather than a sign of weakening fundamentals.
Bitcoin Remains Dominant Despite Market Evolution
CoinGecko’s report also examined how the composition of the cryptocurrency market has evolved over the past decade.
Bitcoin has maintained its position as the largest cryptocurrency by market capitalization every year since 2014. However, its share of the combined value of the top 10 cryptocurrencies has gradually declined.
In June 2014, Bitcoin represented approximately 87% of the total market capitalization of the ten largest digital assets. By June 2026, that figure had fallen to 64.9%, reflecting a decrease of more than 22 percentage points. Despite this decline, no competing cryptocurrency has come close to challenging Bitcoin’s leadership position.
Ethereum Reshaped the Market Structure
The report identified the arrival of Ethereum in 2016 as one of the most significant developments in the history of the cryptocurrency market.
Ethereum entered the rankings directly in second place with an 11.1% share of the top 10 market capitalization, establishing a long standing two asset leadership structure alongside Bitcoin. Its influence grew substantially during the DeFi and NFT boom of 2021, when its share peaked at 23.5%.
Since then, Ethereum’s dominance has eased, falling to around 10.6% by 2026 as alternative Layer 1 blockchain networks gained market share and attracted investor interest.
XRP Extends a Remarkable Streak
Among all major cryptocurrencies, XRP stands out for its consistency.
According to CoinGecko, XRP is the only cryptocurrency outside of Bitcoin that has remained in the top 10 by market capitalization every year from 2014 through 2026. Over that period, its valuation expanded from approximately $32 million and a 0.3% market share in 2014 to nearly $128 billion and a 4.3% share by 2025.
The achievement highlights XRP’s longevity in an industry where many once dominant projects have fallen out of the rankings over time.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
