Curious about Hyperliquid Coin (HYPE)? Hyperliquid is a standout in the crypto world for its fast, secure trading capabilities within the DeFi space. This article breaks down the current price, market cap, trading volume, and unique features of Hyperliquid, helping you understand its significance and why it’s catching traders’ eyes.
Key Takeaways
- Hyperliquid Coin (HYPE) operates on a high-performance Layer 1 blockchain designed for DeFi applications, enabling efficient trading with a fully on-chain, order book perpetuals exchange.
- As of February 3, 2025, HYPE’s market capitalization stands at approximately $8.23 billion, with a trading volume of around $492.34 million in the last 24 hours, indicating strong market activity and confidence.
- Future developments for Hyperliquid include a smart contract platform compatible with Ethereum’s Virtual Machine and permissions-free liquidity provisions, aimed at increasing usability and market presence.
Hyperliquid Coin Overview
Hyperliquid Coin (HYPE) embodies a vision of a fully on-chain, open financial system where user-built applications thrive. At its core, Hyperliquid operates a cutting-edge, fully on-chain order book perpetuals exchange, setting it apart from many other DeFi projects. This primary application allows for seamless and efficient trading, catering to the needs of modern traders.
Built on a high-performance Layer 1 blockchain specifically designed for DeFi applications, Hyperliquid ensures that transactions are swift and secure. This technical foundation supports high-speed trading and enables innovative financial products and services within the Hyperliquid ecosystem.
Current Price of HYPE
As of February 3, 2025, the current price of Hyperliquid Coin (HYPE) stands at $23.22. This represents a notable increase in value, reflecting the market’s growing confidence in Hyperliquid’s potential. Over the past week, the hyperliquid price has seen a positive change of +3.24%, indicating a bullish trend among traders.
The trading volume of HYPE is another critical metric to consider. In the last 24 hours, the trading volume has reached an impressive $492.34 million, showcasing the high level of activity and interest in Hyperliquid markets. Such significant volume highlights the liquidity and demand for HYPE tokens, making it a vital asset in the crypto trading landscape.
The all-time high price of HYPE was recorded at $35.02, highlighting its potential for substantial gains. For those tracking the highest price paid of HYPE today, using an usd price converter can be incredibly helpful to stay updated on real-time value changes.
Market Cap and Circulating Supply
The market capitalization of Hyperliquid stands at around $5.15B, reflecting its significant presence in the cryptocurrency market. This current market cap places Hyperliquid among the top-tier digital assets, showcasing its widespread acceptance and investor confidence.
Furthermore, the current circulating supply of Hyperliquid (HYPE) is approximately 333.93M tokens. This substantial supply, coupled with its market cap, underscores Hyperliquid’s robust market position. As of January 22, 2025, Hyperliquid’s market cap was $8.66 million, ranking it as the 22nd-largest cryptocurrency, a clear indicator of its rapid growth and market traction.
Trading Volume Analysis
Trading volume is a crucial indicator of market activity and liquidity. Hyperliquid’s overall 24-hour trading volume across all exchanges is approximately $139.30 million, reflecting a dynamic trading environment. The average daily trading volume over the past month has been around $400 million, highlighting consistent trader interest and activity.
However, it’s important to note that trading volumes can fluctuate. In the last 24 hours, Hyperliquid’s trading volume dropped by 28.8%, indicating varying market activity. Despite these fluctuations, Hyperliquid has maintained a substantial share of the trading volume in the decentralized derivatives market since June 2023, showcasing its resilience and attractiveness to traders.
During its peak between December 17th and 20th, Hyperliquid’s trading volume approached 9% of Binance’s, a remarkable feat that highlights its rapid growth and market penetration. This deep liquidity is further enhanced by Hyperliquid’s decentralized order book, which supports seamless one-click trading and reduces slippage, providing traders with an optimal trading experience.
All-Time High and Low Prices
Hyperliquid (HYPE) reached its highest price of $34.96 on December 22, 2024, marking a significant milestone in its price journey. This peak was a result of heightened market activity and investor interest, reflecting Hyperliquid’s potential to achieve remarkable highs in the crypto market.
Conversely, the lowest price recorded for Hyperliquid was $3.81, noted on November 29, 2024. This low point was a pivotal moment, from which Hyperliquid has since rebounded strongly. Currently, the price of Hyperliquid is approximately 549.98% higher than its all-time low, demonstrating a robust recovery and growth trajectory.
For traders and investors, understanding these historical price points provides valuable context for current market movements and potential future performance. Tracking the time high and low prices helps in making informed decisions and anticipating market trends.
Unique Features of Hyperliquid
Hyperliquid Coin (HYPE) stands out in the crowded DeFi space due to its unique technical and operational features. Operating on its own Layer 1 blockchain, Hyperliquid is designed for high-performance trading, capable of supporting up to 100,000 orders per second with a transaction latency of just one second. This impressive throughput ensures that traders can execute orders swiftly and efficiently.
A significant aspect of Hyperliquid’s architecture is its custom consensus algorithm, HyperBFT, which has been optimized for both performance and security. This innovative algorithm underpins the reliability and speed of the Hyperliquid network, setting it apart from other DeFi platforms.
Furthermore, Hyperliquid employs a hybrid trading model that merges features from both centralized and decentralized exchanges. This approach aims to provide the best of both worlds, offering the security and transparency of decentralized systems with the efficiency and user experience of centralized exchanges. Such unique features contribute to the growing popularity and adoption of Hyperliquid today.
Where to Trade Hyperliquid
Hyperliquid (HYPE) is accessible on 13 different cryptocurrency exchanges, making it widely available for traders. Among these, the HYPE/USDT trading pair is the most actively traded, accounting for significant volumes across exchanges. This popularity underscores the demand for HYPE tokens and its liquidity in the market.
In addition to trading against stablecoins, Hyperliquid can also be traded with various fiat currencies, including Canadian dollars and British pounds. A notable fiat pair is HYPE/EUR on Bitvavo, which offers traders the flexibility to trade HYPE with Euro. The availability of multiple trading pairs enhances the accessibility and appeal of Hyperliquid in the global market.
Future Developments and Roadmap
Hyperliquid’s future roadmap is filled with exciting developments aimed at enhancing its platform and expanding its market presence. One of the key upcoming features is the creation of standards for native tokens, which will streamline asset management within the Hyperliquid ecosystem. This initiative is expected to foster greater innovation and usability of the platform.
Another significant development is the implementation of a fully permissionless liquidity provision mechanism. This feature will improve capital efficiency and provide users with more opportunities to contribute to and benefit from the Hyperliquid network. Additionally, in 2025, Hyperliquid plans to introduce a smart contract platform compatible with Ethereum’s Virtual Machine, further broadening its capabilities.
These future enhancements are designed to solidify Hyperliquid’s position in the DeFi space and attract more users and developers to create real-time applications on its platform. With a clear vision and a robust roadmap, Hyperliquid is poised to achieve significant milestones in the coming years.
Hyperliquid Community and User Engagement
The Hyperliquid community plays a vital role in the platform’s success. HYPE tokens are used for governance, allowing users to participate in decision-making processes and influence the future direction of the platform. This participatory model empowers users and fosters a sense of ownership and engagement within the community.
Additionally, the platform features community-owned liquidity pools, where users can contribute to market-making and earn rewards. This model not only incentivizes user participation but also ensures that liquidity is maintained within the Hyperliquid markets. Such community-driven initiatives are central to Hyperliquid’s aims of creating an inclusive and user-centric financial ecosystem.
Comparison with Other DeFi Tokens
When comparing Hyperliquid with other DeFi tokens, several key distinctions emerge. As of January 22, 2025, Hyperliquid’s price decreased by 25.7% over the past month, whereas Chainlink saw an increase of 12.8% during the same period. This contrast highlights the varying market dynamics and investor sentiment between different DeFi projects.
A recent report indicated that Hyperliquid outperforms competitors like dYdX and GMX in terms of throughput and trading fees. This superior performance makes Hyperliquid a preferred choice for traders seeking high-speed and cost-effective trading options. However, concerns about the ease of replicating Hyperliquid’s business model have raised questions about its long-term viability.
Despite these challenges, Hyperliquid continues to innovate and expand its offerings, striving to maintain its competitive edge in the decentralized finance landscape. By continually enhancing its platform and addressing market demands, Hyperliquid aims to solidify its position among top DeFi tokens.
Summary
In summary, Hyperliquid Coin (HYPE) stands out as a promising digital asset with a strong technical foundation, robust market presence, and active community engagement. From its current price and market cap to its unique features and future roadmap, Hyperliquid offers numerous opportunities for traders and investors alike.
As Hyperliquid continues to evolve and implement new developments, it holds the potential to further revolutionize the DeFi space. Embrace the possibilities that Hyperliquid presents and stay informed to navigate this exciting market landscape effectively.
Frequently Asked Questions
What is a hyperliquid token?
A hyperliquid token refers to the HYPE token, integral to the Hyperliquid platform, which merges the advantages of centralized and decentralized exchanges, providing rapid transactions and low fees. This innovative token enhances trading with advanced tools like perpetual derivatives on its proprietary Layer-1 blockchain.
How much is Hyperliquid worth?
Hyperliquid is currently valued at $15.46, with a market cap of $5.15B.
Is hyperliquid safe?
Hyperliquid has a focus on security through third-party audits and a bug bounty program, but it poses higher risks compared to established platforms like Ethereum. Nonetheless, recent concerns over potential attacks highlight its vulnerability, suggesting caution is advised when using it.
Does Hyper Liquid have a token?
Yes, Hyper Liquid has a native token called HYPE, which is essential for securing the network through staking. This token also supports governance within the Hyper Liquid ecosystem.
What is hyperliquid in crypto?
Hyperliquid is a decentralized exchange that operates on its own Layer-1 blockchain, providing traders with low fees, rapid transactions, and advanced tools such as perpetual derivatives. It aims to combine the advantages of both centralized and decentralized exchanges.
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