HYPE price action turned heads in the last 24 hours as Hyperliquid’s token rallied hard. What’s behind the spike?
Maelstrom’s CEO, Arthur Hayes, speaking at the WebX 2025 conference in Tokyo on 25 August 2025, predicted that HYPE could surge 126x over the next three years.
At the time of this writing, HYPE price action is up by nearly 4.38% in the last twenty-four hours, currently trading at $45.63, after briefly crossing $47 earlier.
(Source: Alex Svanevik)
Hayes chalked up this growth anticipation to the growing use of stablecoins, which he believes can drive up Hyperliquid’s annualised fee revenue from $1.2 billion to $258 billion.
For the uninitiated, Hyperliquid is a decentralised exchange (DEX) that specialises in perpetual futures, i.e., derivative contracts with no expiration date. It allows traders to take leveraged positions on crypto assets without needing to own the underlying tokens.
Hyperliquid set multiple records with its total positions reaching an all-time high of 198,397 on 25 August 2025, according to Hypertracker.
Happy open perp position all time highs for those that celebrate
196,462
Hyperliquid pic.twitter.com/3mgaikQFMr
— HyperTracker (@CMMHyperTracker) August 24, 2025
Additionally, open interest i.e. the value of unsettled contracts, surged past $15 billion, while the total wallet equity peaked at $31 billion.
Trading activity on the exchange has also skyrocketed. Over the weekend, DEX volume hit a record $1.56 billion, as reported by DefiLlama.
At the same time, monthly transaction fees have already matched July’s peak, climbing to $93 million with several days still left in August.
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How Hyperliquid Came To Command 75% Of DEX Perp Market Should Be Studied
Hyperliquid’s zero-to-hero story has caught everyone’s attention, including data provider Redstone, which released a detailed report on 21 August 2025, highlighting the exchange’s dominance.
In less than two years, Hyperliquid has grown from zero to consistently capturing over 75% of the decentralised perpetuals market, overtaking former leader dYdX.
Redstone also noted that Hyperliquid now handles up to $30 billion in daily trading volume, with activity on some pairs approaching levels seen on the centralised giant, Binance.
Meanwhile, HYPE, the platform’s native token, remains near its all-time high of just under $50, reached on 14 July 2025.
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Bulls Or Bears? Who Holds The “HYPE” Price Advantage?
Hyperliquid appears to be extending its recovery. There is a building momentum to retest its recent high just below the $50 mark. Technical indicators show the 50-period Exponential Moving Average (EMA) holding at $43.91.
It is reinforced by the 100-period EMA at $43.68 and the 200-period EMA at $43.13.
The Moving Average Convergence Divergence (MACD) is signalling bullish strength and has maintained a buy signal since 22 August 2025.
Meanwhile, the Relative Strength Index (RSI) has bounced from midline support to 56, indicating a rising buying pressure. All this, combined with a strong retail interest, suggests that bulls currently hold the advantage.
For now, traders are keenly watching the immediate resistance at $47.37, the ATH of $49.91 and the key support at $40.45, last tested on 22 August.
Price breaking below the support level could trigger a shift in market sentiment and could potentially result in a deeper pullback towards the next demand zone at $35.50.
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How To Get Your Hands On HYPE, You Ask?
Well, it’s quite easy to be honest. First things first, you would be required to open a brokerage account with a platform that supports CSE listings. Interactive Brokers, for instance, is a good place to start.
Following that, deposit funds in your brokerage account. You could do a bank transfer via domestic wire and ACH. International methods are also accepted. There is no minimum deposit, and most of the payment types are fee-free.
Once the funds are deposited, search for HYLQ using the ticker and select “PURE” exchange listing. That’s it! After this, it’s all about how much you invest and your risk-taking appetite.
Happy Investing!
Learn More About Hyperliquid Here
Key Takeaways
- HYPE price skyrocketed after Maelstrom CEO Arthur Hayes predicted a 126X upside in the next three years
- Hyperliquid has grown from zero to consistently capturing 75% of the DEX perp market within two years
- Hayes believes that growing use of stablecoins can drive up Hyperliquid’s annualised fee revenue from $1.2 billion to $258 billion
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