- Hyperliquid rises 15% to $33.36 with a weekly high of $37.45.
- Revenue hits $12.53M this week, outpacing Ethereum and Solana.
- Platform achieves $21B daily volume and $4.7B open interest.
Hyperliquid is up 15% this week and now trades for $33.36. Earlier today, the decentralized exchange token saw its highest ever weekly price of $37.45. There has been a rise of 21.30 percent over the course of the preceding week due to this.According to data from TradingView, trading volume for Hyperliquid, with the ticker HYPE, is 470.48K.
Since early April, the chart has gradually increased, with a major bump in May. After maintaining its position as the market leader in the decentralized perpetual futures industry, Hyperliquid has begun to attract the attention of the market.The platform’s growth is matched by its greater involvement in the crypto industry.
Revenue Growth Fuels Market Momentum
It was reported by Satoshi Club on X that Hyperliquid made a revenue that was 121% more than the total revenue of Ethereum and Solana during this week.Due to its steady revenue stream, the platform is now considered one of the top decentralized exchanges. In just February, Hyperliquid earned $50 million and is expected to collect $600 million over a year from only perpetual futures trading.
Trading volume for Hyperliquid has reached $21 billion each day after it began, with an open interest of about $4.7 billion. The fusion of these two platforms makes it possible for 100% uptime and it manages about half of the trade volume in decentralized exchange perpetual futures. Operational efficiency has made sure the brand brings in $9.5 million per day, showing it is able to grow.
Over 5% of the total HYPE supply has been bought back and burned by Hyperliquid. The goal of this mechanism is to see the token value increase as the years go on. At the same time as perpetual futures trading surged from $1.34 billion to $5.96 billion, open interest for the platform increased from six hundred million dollars to $3.2 billion in the previous year.
Expansion Plans and Market Potential
Hyperliquid is now making the move into spot market trading as well. Customers are able to trade leading cryptocurrencies such as Bitcoin, Ethereum and Solana on the platform. It is expected that as a result, the company’s annualized revenue from typical trading will grow from $750 million to a much larger figure.
With the HyperEVM launch scheduled for Q1, people can create and deploy new distributed applications on the blockchain without permission. Becoming a high-throughput Layer 1 blockchain (that is Hyperliquid) can open the way for it to appeal to a wider group of users. If Hyperliquid continues to grow and gets 20% of Binance’s total trading volume, it could reach between $50 and $100 per token, as per current forecasts.
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