Hold onto your wallets, folks! The native token of Hyperliquid, affectionately known as HYPE, has decided to take a little joyride, soaring over 20% in just 24 hours. It hit a jaw-dropping all-time high of $37.17 on May 23. Why, you ask? Well, it seems Hyperlipid is the new kid on the block, and everyone wants to be its friend. 😏
As of this very moment, HYPE is trading at a cool $36.90, with a market cap that’s practically flexing at $12.4 billion. And get this: its 24-hour trading volume has jumped by 31% to a staggering $498.87 million. That’s right, folks, we’re talking about numbers that make your head spin faster than a toddler on a sugar high! 🍭
In the grand scheme of crypto, HYPE is now the 12th largest asset, leaving big names like Chainlink, Avalanche, and Stellar in its dust. It’s like the underdog story we all love, except this time the underdog is wearing a designer suit and eyeing Sui’s 11th position like it’s the last slice of pizza at a party. 🍕
Hyperliquid is not just any decentralized derivatives exchange; it’s built on its own high-performance Layer-1 blockchain, HyperEVM. With DeFi gaining traction faster than a cat meme goes viral, Hyperliquid is stealing the spotlight with record-breaking metrics and trades that make Wall Street look like a lemonade stand. 🍋
Recent Trends Around Hyperliquid
Speaking of trends, let’s talk about James Wynn, the crypto trader who decided that $1.1 billion was a reasonable amount to wager on Bitcoin (BTC) using 40x leverage on Hyperliquid. I mean, who needs a safety net when you can just jump off the cliff and hope for the best, right? His bold move, linked to wallet “0x507,” is a testament to Hyperliquid’s liquidity and its growing reputation as the playground for elite traders. 🎢
On May 22, Hyperliquid’s open interest hit an all-time high of $8.9 billion, with 24-hour fees reaching $5.4 million. And let’s not forget the USDC total value locked (TVL) at $3.2 billion. It’s like a financial buffet, and everyone’s piling their plates high! 🍽️
Plus, Hyperliquid is cozying up to the CFTC to advocate for DeFi frameworks. They even posted an update from their chat with the CFTC, sparking discussions in the crypto community. Because nothing says “legitimacy” like a government agency giving you a thumbs up! 👍
The following post is from Hyperliquid Labs
Hyperliquid Labs is committed to the advancement of DeFi and its promise in delivering a more open, transparent, and efficient financial system for all. As a contributor to the Hyperliquid blockchain, we believe in DeFi’s ability not…
— Hyperliquid (@HyperliquidX) May 23, 2025
“Hyperliquid Labs is committed to the advancement of DeFi and its promise in delivering a more open, transparent, and efficient financial system for all,” said the platform. “As a contributor to the Hyperliquid blockchain, we believe in DeFi’s ability not only to meet but to exceed the demands of modern financial markets.” Because who doesn’t love a little overachievement? 🎉
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2025-05-23 14:33