Hyperliquid (HYPE)
Hyperliquid is a layer 1 blockchain and decentralized exchange ecosystem built primarily around high-performance trading. It is best known for its on-chain perpetual futures venue, which aims to combine the transparency and self-custody of decentralized finance with an experience closer to centralized exchanges. The platform also supports spot markets and is expanding into broader DeFi use cases, including lending, borrowing, tokenized assets, and applications built through its Ethereum-compatible environment.
The network is designed around fast execution, deep liquidity, and a fully on-chain order book model. This distinguishes Hyperliquid from many decentralized exchanges that rely mainly on automated market makers. By focusing on derivatives and active trading, it targets one of the largest segments of crypto market activity while keeping settlement and market data visible on-chain. Its infrastructure is intended to reduce reliance on intermediaries without sacrificing the speed traders expect from modern venues.
HYPE is the native token of the Hyperliquid blockchain and has a maximum supply of 1 billion. Within the ecosystem, it is tied to the network’s economic design and long-term decentralization. Native tokens on layer 1 networks commonly support functions such as incentives, governance, staking, or fee-related activity, and HYPE plays a central role in aligning users, validators, builders, and liquidity providers around the Hyperliquid ecosystem.
Hyperliquid’s broader significance comes from its attempt to modernize market infrastructure using blockchain rails. If decentralized finance continues to absorb more trading activity, platforms that offer transparent settlement, strong liquidity, and a professional trading interface may be well positioned. HYPE’s prospects are therefore closely linked to Hyperliquid’s ability to sustain volume, security, and ecosystem growth.
Last updated
- Market Cap
- $11.7B
- Fully Diluted Valuation
- $50.3B
- 24 Hour Trading Vol
- $235M
- Circulating Supply
- 222M
- Total Supply
- 955M
- Max Supply
- 1B
Hyperliquid’s $5.25B OI fuels $513K daily revenue – Can burns sustain HYPE’s rally?
A trader opens high-leverage long positions worth $43.68 million in Bitcoin (BTC) and Ethereum (ETH)
Hyperliquid enhances TWAP orders with trigger prices, dynamic intervals, and week-long durations
Micron and SK Hynix recorded $103 million in holdings outflow, while SanDisk’s positions rose 36% sequentially amid capital inflows.
A whale placed a $10 million long position on SK Hynix, with a bottom-fishing range of $991.22 to $1016.6.
An address deposited 1.448 million USDC as margin into Hyperliquid and placed a $10 million SKHX long buy order
Crude oil’s ongoing slump has pushed a whale who opened 60 long positions to exit the market regretfully, incurring a net loss of $2.43 million from multiple prior liquidations.
Two new addresses opened 5x long positions on KAITO in the early morning, becoming the largest position for the token on Hyperliquid, and are now facing an unrealized loss of nearly $1 million.
Two New Addresses Open Cumulative $6.94 Million KAITO 5x Leverage Long Positions on Hyperliquid
XRP ETFs Keep Drawing Cash, So Why Is the Price Down 40%?
FARTCOIN Price Breakout Builds as Whale Opens $2.16M Leveraged Position
Trader Loracle has heavily shorted Ethereum (ETH) and HYPE, with total short positions exceeding $46 million.
Data: PROVE, HYPE, ENA Tokens to See Large Unlocks Next Week, with PROVE Unlocking Nearly $35.4 Million
A Hyperliquid trader's $47.6K $BRENTOIL long position was liquidated, resulting in a loss of $277.6K
A trader was liquidated again after going long on crude oil, with total account losses of approximately $2.86 million.
Ondo’s $6B perps debut passes Aster and Lighter – Can it challenge Hyperliquid?
South Korea Stablecoin Outflows Extend to 18 Months as Offshore Demand Grows
All about Hyperliquid’s liquidation cascade threat below $52-zone
Circle and Hyperliquid identified as CLARITY Act infrastructure winners by Bob Diamond
‘An initial 9,999 USDC’ – Inside Hyperliquid’s TradeXYZ – SKHYNIX payout plan
- Market Cap
- $11,705,819,233
- Fully Diluted Valuation
- $50,271,375,336
- 24 Hour Trading Vol
- $235,419,574
- 24h High
- $52.91
- 24h Low
- $51.23
- 24h Change
- +2.17%
- 7d Change
- -12.54%
- 30d Change
- -25.96%
- 1y Change
- +37.17%
- Market Cap Rank
- #10
- Market Cap Rank (rehypothecated)
- #11
- Circulating Supply
- 222,445,714
- Total Supply
- 955,307,079
- Max Supply
- 1,000,000,000
- All-time high
- $76.70 (-31.40%) · 16 Jun 2026, 15:02
- All-time low
- $3.81 (+1281.53%) · 29 Nov 2024, 11:30
- Website app.hyperliquid.xyz/trade
- Whitepaper hyperliquid.gitbook.io/hyperliquid-docs
- Block explorer hypurrscan.io/token/0x0d01dc56dcaaca66ad901c959b4011ec
- X / Twitter twitter.com/HyperliquidX