Why Hyperliquid Reached an All-Time High of $39 and Its Potential for Further Growth

Hyperliquid has swiftly emerged as a prominent player in the cryptocurrency sector, establishing itself as the top decentralized finance (DeFi) exchange for perpetual trading. Alongside its increasing popularity, the value of its native HYPE token has also surged. This increase has persisted even amidst a general downturn in the crypto market, with the token climbing over 50% in a single week to reach unprecedented levels.

Elements Influencing the Hyperliquid Price

The primary factor propelling the price of Hyperliquid to record heights has been the growing interest in the platform. As cryptocurrency investors shift their focus towards more decentralized options for their perpetual trading, the awareness of HYPE has significantly escalated in recent months.

Additional Insights

This surge in interest has resulted in a substantial uptick in the platform’s trading activity recently. A key highlight was the billion-dollar trades executed by James Wynn, who quickly gained fame as the leading crypto trader on Hyperliquid. His transactions attracted the attention of many, as numerous observers eagerly anticipated the results of his trades.

Notably, during the past week, the platform achieved its highest trading volume since its inception, reaching $78.672 billion between May 11 and May 18, 2025. Daily trading volumes have consistently surpassed the $2 billion threshold.

The peak daily trading volume was recorded on May 21, 2025, with $17.731 billion worth of transactions on the platform. Over three years of operation, Hyperliquid has amassed a total trading volume of $1.156 trillion, according to various data sources.

In addition, open interest on the platform has also reached new heights, crossing the $10.1 billion milestone. The amount of USDC locked within the platform rose to $3.5 billion, with a remarkable $5.6 million in fees generated within just 24 hours. Over one week, the fees totaled more than $22 million.

Additional Insights

The HYPE token continues to see a robust upward trend, even with a 50% increase noted in just one week. Daily trading volumes exceeded $460 million on May 26, as per recent data. In this period, crypto whales have shown increased activity; reports indicate that three significant traders spent $5.33 million to purchase HYPE on Monday.

With volumes increasing and prices rising, it appears that much of this volume is driven by buyers. If this continued demand persists, it is probable that the price will experience further gains before any market corrections occur.