Last weekend marked a historic day for Hyperliquid as its trading volume for perpetual contracts soared to $11.5 billion, accompanied by a staggering $1.32 billion in liquidations—both setting new all-time highs.
Despite the market turbulence, Hyperliquid’s native token, HYPE, demonstrated remarkable resilience. The token rebounded swiftly after the market dip, briefly surpassing $33 to reach a new all-time high.
The Assistance Fund currently holds approximately 11.234 million HYPE tokens, valued at around $356 million, highlighting its significant stake in the ecosystem.
According to data from CoinGecko, HYPE has surged 25% in the past 24 hours, reflecting strong investor confidence. This rise has propelled HYPE into the ranks of the top 20 cryptocurrencies, with a market capitalization of $10.9 billion. The token has overtaken well-established projects like Stellar (XLM) and Polkadot (DOT) in market value. Furthermore, HYPE’s Fully Diluted Valuation (FDV) now stands at an impressive $32.8 billion.
This rapid ascent underscores Hyperliquid’s growing dominance in the crypto space, fueled by record-breaking trading activity and a robust tokenomics model. The platform’s innovative features and strong market performance have solidified its position as a key player in the decentralized finance (DeFi) landscape.
As HYPE continues to attract attention and capital, its remarkable growth trajectory is a testament to Hyperliquid’s potential to reshape the crypto trading ecosystem. With new milestones being set, all eyes are on HYPE and Hyperliquid as they continue to push the boundaries of what’s possible in the world of digital assets.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: itchaznong/123RF // Image Effects by Colorcinch
In the unpredictable world of cryptocurrency, new tokens launch daily, each one a shining beacon…
Once more, Ethereum is commanding the spotlight as fresh figures indicate that the amount of…
The ecosystem on Arbitrum keeps flaunting its robust foundations, with a steady incline in the…
Once again, major market players are focusing on Ethereum. The whale activity surrounding the second-largest…
It has been a tumultuous week for the artificial intelligence sector in crypto. Sharp valuation…
Following a brief stint of dormancy, the BSC Foundation is back in action, reestablishing its strategic…