The post Hyperliquid (HYPE) is up 21% in August, but can it sustain the rally? appeared on BitcoinEthereumNews.com.

Hyperliquid hits $3B daily spot volume, $87M monthly revenue. Hyperliquid now controls nearly 80% of the decentralised perpetuals market. However, risks like validator centralisation and volume dependence still persist. Hyperliquid’s native token HYPE has climbed 21.7% so far in August, cementing its position among the best-performing large-cap cryptocurrencies. At around $45, the token is just below its July all-time high of $49.75, while daily trading volumes continue to surge. The question many investors are asking is whether this momentum can last, or if the rally risks losing steam as broader market conditions shift. Momentum builds on strong fundamentals Unlike most altcoins that struggled during this month’s market pullback, HYPE has remained resilient. While Bitcoin slipped back to $111,000 from a $117,000 peak after Jerome Powell hinted at possible rate cuts in September, Hyperliquid’s numbers kept growing. Spot trading on the platform hit a record $3 billion in a single day, including $1.5 billion in Bitcoin alone, making it the second-largest venue for spot BTC trading across both centralised and decentralised exchanges. At the same time, the exchange generated $93.5 million in fees and nearly $87 million in revenue this month, marking its strongest month on record. These metrics highlight a platform that is not only attracting traders but also converting activity into substantial cash flow. This contrasts with rivals that often struggle to scale revenues despite surging volumes. A rising star in the perpetual futures market Hyperliquid’s rapid rise has also been fueled by its dominance in decentralised perpetuals, where it now controls close to 80% of the market. On the broader decentralised exchanges category, Hyperliquid controls 18.4%, the largest market share, according to data from Coingecko. At its peak, the platform processed as much as $30 billion in daily trades, a level that only a handful of decentralised exchanges…

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Filed under: News - @ August 25, 2025 1:27 pm