Hyperliquid Shows Strong Growth Amid Market Potential
Key Takeaways
Hyperliquid (HYPE) is currently gaining attention with an average daily trading volume of USD 6.4 billion. This puts the decentralised perpetual exchange (Perp DEX) ahead of many established competitors. Despite these impressive numbers, the HYPE token is currently trading about 54% below its all-time high. Analysts see this as a potential undervaluation. The platform shows strong fundamentals, which could indicate further growth—especially if risk appetite returns to the crypto market.
Hyperliquid at a Glance
Hyperliquid is a decentralised exchange that specialises in perpetual contracts. These allow users to speculate on cryptocurrency price movements without an expiry date, unlike traditional futures. In recent months, Hyperliquid has established itself as a serious player in this segment.
With a daily trading volume of USD 6.4 billion, the platform is significantly ahead of Jupiter Perps, its next competitor, which handles only USD 704 million. That represents a difference of 88%.
Market Position and Liquidity
The open interest (OI)—the total amount of outstanding trades—for Bitcoin on Hyperliquid currently stands at USD 1.4 billion. For comparison:
- Binance: USD 9.2 billion
- OKX: USD 3 billion
- Bybit: USD 5.6 billion
This means Hyperliquid has reached about 15% of Binance’s level, 46% of OKX, and 25% of Bybit. These figures show that Hyperliquid has built a notable market presence in a short amount of time.
Price History and Technical Analysis
The HYPE token is currently consolidating around the USD 16.30 level. This zone was already a turning point in March, from which the price dropped 40% to under USD 10 within two weeks. However, the current picture is different: trading volumes remain high, with no signs of a sell-off or distribution by large holders.
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The current price action is reminiscent of March’s behaviour. Back then, a phase of positive signals was followed by a sudden drop. A short-term correction could also occur now, triggered by cautious market participants taking profits or hedging their positions.
Opportunities for 2025
If buying activity continues and volume profiles increase, this could lead to a so-called short squeeze. In such a scenario, short sellers are forced to close their positions, creating additional buying pressure. HYPE could then retest the resistance zone at USD 20.
Such a breakout could trigger FOMO (Fear of Missing Out)—the fear of missing an opportunity. This would attract more buyers and further support the price.
Our Assessment
Hyperliquid has quickly established itself as a serious player in the decentralised derivatives space. Its high trading volume, solid market position, and technical stability point to further growth potential. The current price decline appears to be more driven by macroeconomic factors than by weaknesses in the protocol itself.
For you as an interested investor or trader, this means: keep an eye on HYPE. If market risk appetite increases, Hyperliquid could be one of the beneficiaries. The conditions for positive price development in 2025 are in place—even though short-term pullbacks cannot be ruled out.
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