Crypto is struggling to keep its head above water with President Trump’s 104% tariffs on Chinese goods as Hyperliquid (HYPE) stands green amongst a sea of red.
After Vice-President JD Vance called Chinese workers ‘peasants’ and Trump’s heightened tariffs for its far-east nemesis, HYPE is the only top 30 digital asset currently in the green.
$HYPE is the strongest token among all L1s and has risen by 17% over the past 3 days pic.twitter.com/kPZcFltorK
— elonmoney.hl (@0xelonmoney) April 9, 2025
Hyperliquid (HYPE) Is Showing Strength At A Time When Bitcoin And Stocks Are In The Gutter
The Asian markets are slumping once again in today’s (April 9) early trading sessions as Trump’s full roster of reciprocal tariffs on China takes effect.
As a result, the crypto markets have predictably followed, with Bitcoin (BTC) down another 2.5% on the day to $77,200, and Ethereum (ETH) down 5.7% to $1477 in the past 24 hours also.
Any crypto chart right now paints a similar picture, except for Hyperliquid (HYPE). It is currently trading for around $12.5 and has been up over 5% in the past 24 hours.
Hyperliquid is a decentralized exchange (DEX), uniquely built on its own Layer-1 blockchain. It has surged in popularity as a trading platform due to low fees for traders, fast transactions, and its speedy addition of tokens available to trade on perpetual derivatives.
One of the key aspects to the success of HYPE since its launch in November 2024 is the team’s strong desire to keep its token out of the clutches of Binance. The world’s largest centralized exchange has become synonymous with being the place where new, hyped tokens go to die.
A list of 27 tokens listed by Binance in 2025 shows that only three are currently in the green from the day they were listed on the exchange. The remaining 24 are all down, ranging from -16.73% for Berachain (BERA) to -90.95% for Bio Protocol (BIO).
As of right now, the largest CEX that has HYPE listed is KuCoin, which has processed a $27 m trading volume for HYPE in the past 24 hours. In comparison, of the $197 million combined trading volume for HYPE over the past 24 hours, $125 million of it is from its own Hyperliquid platform.
Impressively, the HYPE/USD perpetual futures pair on Hyperliquid has processed over $180 million in volume, highlighting an increased appetite for the token when volume across other major caps is drying up.
Binance Pump&Dump it's own listings
3/27 listings had a positive return, other rugged
If you put $100 on each token, you'd have ~$1,500
Here's how Binance scams you and what can you do👇🧵 pic.twitter.com/frhHVRgurB
— Leviathan (@TechLeviathan) April 2, 2025
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Could HYPE Continue To Outperform The Market: $20 Next?
With the strength shown by HYPE in these trying times, many are calling for $20 as soon as volume begins to flow heavily into the native token of the Hyperliquid platform.
It has bounced perfectly from the purple support box pictured below, and after hitting $12.53, the next step is to take out its March high of $17.23.
If the stock markets and the wider crypto space can stay relatively stable from here, following President Trump’s ongoing tariff wars with China, HYPE could make a run for $20.
HYPE has been in a downward trend since March 3, when it began its descent from $20.3 and briefly went below $10 on April 7. That date will probably forever be known as the modern-day Bloody Monday after $200 trillion was wiped out of the stock markets due to the fallout of Trump’s tariff announcement.
However, one only has to look at the strength of BNB during the 2019 bear market to find hope that HYPE could potentially stay green if the rest of the market remains red for a prolonged period of time.
While Bitcoin dropped from $11,000 to $3200 during the first half of 2019, BNB impressively increased from $8 to over $30 by June of the same year.
With Hyperliquid acting as an insulated product whereby the HYPE token isn’t at the mercy of the major exchanges, there is no reason why it could not outperform the market as the backbone of the Hyperliquid ecosystem.
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Hyperliquid (HYPE) is the only major cryptocurrency in the green
- As the full effect of President Trump’s tariff wars takes its toll on TradFi markets and crypto alike, HYPE is up over 5% on the day
- HYPE has processed over $197m in trading volume, with over 75% coming directly via its Hyperliquid DEX
- The HYPE token benefits from not being listed on major exchanges such as Binance, which are known to cause huge sell-0ffs for newly listed tokens
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