Top Crypto Gainers Today, October 23 – Hyperliquid, Mantle, Monero

Highlights:

• The top crypto gainers today, Hyperliquid, Mantle, and Monero, are all showing renewed energy after recent dips.
• Investor confidence in Hyperliquid is surging, driven by a major $1 billion strategic push and robust trading momentum.
• Monero’s breakout above resistance hints at steady buying pressure, while Mantle regains strength through rising on-chain activity.

The cryptocurrency market has seen a slight recovery, with global market capitalization surging by 1% to $3.70 trillion. Despite the recovery, the trading volume has declined to $187 billion, indicating decreased market activity. The fear and greed index still remains at 28 levels, indicating a fear sentiment in the market. In this article, we will discuss the top crypto gainers today, such as Hyperliquid, Mantle, and Monero.

Top Crypto Gainers Today

1. Hyperliquid (HYPE)

Hyperliquid has emerged as the top crypto gainer today with a surge of 11% over the last 24 hours. The bullish momentum has pushed the price to $38 from intraday lows of $34. Moreover, its market capitalization and trading volume have climbed to $13 billion and $690 million, respectively.

The surge of Hyperliquid has been driven by the increasing investor confidence in its growing ecosystem. According to a new SEC filing, Hyperliquid Strategies is soliciting $1 billion to increase its holdings in the HYPE token. To fund purchases of tokens and other business requirements, the company will sell a maximum of 160 million shares.

🔥 Hyperliquid Strategies Inc., a digital asset treasury company focused on the Hyperliquid ecosystem, filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).

This filing paves the way for a public equity offering aimed at raising up to $1… pic.twitter.com/ExQ9nrhYPE

— Hyperliquid Daily (@HYPERDailyTK) October 23, 2025

David Schamis and Bob Diamond will lead the firm, which will soon merge with Sonnet BioTherapeutics and be chaired by Rorschach I LLC. Hyperliquid Strategies already holds 12.6 million HYPE tokens and $305 million in cash, strengthening its position in the decentralized derivatives market.

2. Mantle (MNT)

After declining by 8% over the past week, MNT has embarked on a bullish ride, recording a surge of 6% on the weekly chart. The price has surged from $1.55 to $1.70, pushing the market cap to $5.48 billion. 

Mantle is picking up again in the market, with an increasing interest in on-chain and derivatives data. CoinGlass data indicates a 6% increase in MNT futures open interest, currently standing at $185.80 million. This indicates that traders are taking on new long positions following past liquidations. 

Meanwhile, the funding rate has become positive at 0.0092, indicating a stronger bullish bias. At the same time, the number of users engaging on the Mantle network is increasing. According to data from DeFiLlama, this month recorded $732.48 million in DEX volume, and it has remained above $700 million for over three months.

3. Monero (XMR)

Monero, a privacy coin, is trading above $300 at press time, having reached a high of $319 on September 16. With a 5% gain over the past 24 hours, the weekly and monthly charts have risen to 3% and 11%, respectively. Currently, its market capitalization stands at $6.05 billion.

According to crypto analyst Crypto Chiefs, Monero shows promising buying momentum as the price rises. The chart indicates XMR breaking out of a falling pattern of a wedge whose formation began in May. Prices have now surged past the upper resistance line, confirming their increasing buying momentum and trader confidence.

$XMR looks so primed for a bullish rally! pic.twitter.com/A8J9d9GiEl

— Crypto Chiefs (@cryptochiefss) October 21, 2025

The breakout comes after several months of compressed price action between $230 and $330. As the price crosses the $380 mark, the analyst expects upward pressure to persist as long as volume remains strong. Investors must, however, be on the lookout for possible retests of the breakout level before achieving additional gains.