In this competitive DeFi space, cryptocurrencies must continually innovate and adapt to stay ahead of the curve. Hyperliquid (HYPE) is a token that has been making significant strides in the DeFi space, solidifying its position as a leading player in the decentralized perpetuals market.
With around a staggering $400 billion in perpetual trading volume and $107 million in monthly revenue, Hyperliquid’s dominance in the crypto space is unconquerable, controlling around a massive 70% of the market space.
As Hyperliquid continues to build momentum, several factors could influence its price movement. With its recent price surge and growing interest, HYPE’s future looks promising. This article examines the recent developments within the Hyperliquid ecosystem and the HYPE token’s potential future applications.
Hype Price Surges
Over the past few weeks, the HYPE token has been experiencing a notable uptrend despite fluctuations. Since its launch in January 2025, the token has soared by a massive 1362%. On 27th August, HYPE hit an all-time high of $48.66.
Though HYPE plummeted from its ATH to reach the current level of $46.84, it is still maintaining its positive momentum. The token has seen an uptick of 1.92% in a day, 5.87% in a week, and 25% in a month.
With a market cap of $15.67 billion, HYPE is ranked 11th on CoinMarketCap. However, the traders’ sentiment is turning negative, with the 24-hour volume now reaching $203 million, down by 5%.
Why is the Price Up?
Significantly, the HYPE price’s uptrend is driven by a series of significant factors. Hyperliquid has achieved remarkable growth, with key statistics highlighting its dominance in the decentralized sector. Its revenue exceeded $107 million in the past 30 days, bringing its cumulative revenue to nearly $652 million. The annualized revenue is now marked at a staggering $1.308 billion. This growth trajectory is particularly noteworthy as it is a rare scene in the non-custodial perpetual DEX space.
In addition, the platform processed around $400 billion in perpetual trading volume. In specific, Hyperliquid’s monthly trading volume has hit $$387 billion.
Interestingly, the August revenue and fees surpassed July’s figures, with around $016 million in revenues and $114 million in fees. In July, both these figures were rounded at $86 million and $93 million.
Whale Activity
Whales are showing strong confidence in the HYPE token, especially during the cryptocurrency’s downtrend. This strategic behavious shows their long-term confidence in the token’s price trend.
The recent whale activity has sparked interest and debate. Dormant whales are re-emerging, capitalizing on the token’s positive sentiment. On August 28, two whales accumulated about 175,130 HYPE tokens, with a total value of approximately $8.47 million.
Recently, a whale deposited over $3 million USDC into Hyperliquid and opened a leveraged short position against HYPE, indicating a potential near-term caution.
Is HYPE the “Next Killer App”?
Notably, BitMEX co-founder Arthur Hayes has dubbed Hyperliquid a “decentralized Binance.” He predicted that the token could surge over 100x with continued adoption.
The recent launch of the 21Shares Hyperliquid ETP on the SIX Swiss Exchange further boosts the platform’s institutional interest. With its innovative approach and growing adoption, Hyperliquid is poised to cement itself as the next “killer app” in the crypto space.
HYPE to Hit $60 By Mid-September
As predicted by crypto analyst CryptosBatman, the HYPE token is poised to hit a new all-time high of $60 by mid-September. According to the analyst, HYPE is forming a textbook bullish ascending triangle pattern.
At the same time, another analyst, James, forecasted the token’s bullish ascendance to $62 by this December. However, it’s wise to approach with caution as the token’s potential trajectory is uncertain, considering the unpredictable nature of the crypto market.
