Hyperliquid’s HYPE reaches new all-time high as BTC extends record-setting run
The post Hyperliquid’s HYPE reaches new all-time high as BTC extends record-setting run appeared on BitcoinEthereumNews.com.
Hyperliquid (HYPE) reached a new all-time high, getting a boost from the BTC trading frenzy. The platform’s token entered price discovery territory above $45. HYPE traded at a new all-time high, driven by demand for derivative trading. The token rallied to $45.91, getting closer to the $50 milestone predicted in the past few weeks. HYPE rallied above $45, expanding more rapidly after the launch of its Bybit spot trading pair. | Source: Coingecko HYPE open interest also expanded to an all-time high of over $1.85B, becoming the most traded token in the Hyperliquid ecosystem. Most of the HYPE activity is on-chain, hinging on the activity of whales. However, HYPE is also rising based on its tokenomics, which require extensive staking. HYPE is one of the assets with minimal selling pressure, allowing holders to share in the Hyperliquid fee generation. The token’s price is expected to rise based on a predictably shrinking supply through token burns. Additionally, some of the HYPE available will be locked for liquid staking. The token rose just as Hyperliquid entered the top 5 of fee-generating apps. The perpetual futures DEX achieved $4.19M in daily fees, close to the upper range for the past few weeks. Days with over $4M in fees are considered peak activity on Hyperliquid. The DEX carries around $61B in futures trading volumes, trying to catch up to Binance’s spot market with $115B in volumes for the month so far. The price records in July may put the month on track to repeat the peak performance from May and June. Hyperliquid keeps attracting whales, while growing its open interest and liquidity. HYPE trading opens on Bybit The recent HYPE rally followed weeks of expanding open interest on the platform. The short-term trigger for the hike to nearly $46 came from the recent Bybit…
Filed under: News - @ July 11, 2025 12:28 pm