HYPE generated $6.5 million in fees and set a record high above $82, with derivatives open interest topping $13 billion for the first time since October as traders piled into leverage after the token cleared the $75 to $77 zone that had capped it through June and July. It rallied against a weekend crypto correction and despite reported large short positions from market makers including Wintermute. The flip side is a daily RSI near 80, which is exactly the setup where a minor dip cascades.