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Price data by
Hyperliquid
Hyperliquid
Hyperliquid
hype
$54.08
-0.6468%
Decentralized Exchange (DEX)
Smart Contract Platform
Decentralized Finance (DeFi)
Derivatives
24-Hour Range
$53.33
$56.10
Low
High
Market Cap (Mcap)
Rank
#15
Mcap
$14.63B
Fully Diluted Mcap
$54.02B
Supply
Circulating
270,772,999
Total
1,000,000,000
Created On
N/A
All Time High (ATH)
ATH
$56.10
ATH Change
-3.598%
ATH Date
Sep 11th, 2025
Total Value Locked (TVL)
TVL
$722.33M
MCap to TVL Ratio
20.25
FDV to TVL Ratio
74.79
Hyperliquid Chart
Price
Volume
Market Cap
Price data by
Other coins
BNB
BNB
Solana
Solana
USDC
USDC
Lido Staked Ether
Lido Staked Ether
Dogecoin
Dogecoin
TRON
TRON
Cardano
Cardano
Wrapped stETH
Wrapped stETH
Chainlink
Chainlink
Wrapped Beacon ETH
Wrapped Beacon ETH
Wrapped Bitcoin
Wrapped Bitcoin
Ethena USDe
Ethena USDe
Sui
Sui
Stellar
Stellar
Figure Heloc
Figure Heloc
Avalanche
Avalanche
Wrapped eETH
Wrapped eETH
Bitcoin Cash
Bitcoin Cash
WETH
WETH
Hyperliquid News

Sep 10, 2025

Hyperliquid. Image: Decrypt/Hyperliquid

DeFi

Hyperliquid: The Biggest Crypto Projects Battling for the USDH Stablecoin

Hyperliquid suddenly has a swarm of suitors making passionate pleas for its hand in marriage to create the USDH stablecoin. It's a drama that kicked off last week and has now reached a fevered pitch as some of the biggest crypto companies around compete for the highly sought-after USDH ticker—culminating in an on-chain vote by Hyperliquid stakeholders on Sunday. Major companies like Paxos, Sky, and Frax Finance have thrown their hats in the ring alongside Ethena, with backing from a BlackRock ex...

by Ryan S. Gladwin ·

Sep 9, 2025

ENA is the native token of Ethena. Image: Shutterstock

DeFi

BlackRock Exec Pitches Hyperliquid on Ethena’s Stablecoin Proposal

Ethena Labs, makers of the synthetic-dollar protocol, cast its name into the USDH ring on Tuesday, presenting itself as a potential suitor for issuing Hyperliquid’s stablecoin. The decentralized exchange and layer-1 network is currently being powered by Circle’s USDC and Tether’s USDT0, but Hyperliquid’s community is currently soliciting proposals on a “Hyperliquid-alinged” stablecoin that could serve as an alternative. Proposals have already been penned by entities including stablecoin issuer P...

by André Beganski ·

Sep 9, 2025

Image: Hyperliquid/Decrypt.

Coins

Hyperliquid Sets New All-Time High Above $55 as USDH Proposals Roll In

Hyperliquid set a new all-time high of $55.04 on Tuesday morning, before drawing back slightly to $53.70 amid a 4% daily and 23.4% weekly surge. It comes as several established teams submit proposals to take over the USDH ticker to create a “Hyperliquid-aligned” stablecoin. Teams wishing to create the “Hyperliquid-first” stablecoin have until Wednesday to submit a proposal via Discord. Validators will begin voting on them at the end of the week. So far, there have been 21 proposals—although some...

by Ryan S. Gladwin ·

Sep 8, 2025

Hyperliquid. Image: Decrypt/Hyperliquid

Coins

Hyperliquid Validators to Decide USDH Ticker in First Governance Test Following Pushback

Hyperliquid, a decentralized exchange and Layer-1 chain, is slated to place the USDH ticker through a validator vote this month, testing the role of onchain governance in shaping its stablecoin strategy. In an update posted Sunday to clarify guidelines, the team behind Hyperliquid said the vote concerns only the ticker and does not grant USDH “any special privileges by nature of its ticker name,” adding that USDH “will be only one of many such stablecoins” for its chain. USDH is the project’s pr...

by Vince Dioquino ·

Sep 5, 2025

Hyperliquid. Image: Decrypt/Hyperliquid

Coins

Hyperliquid Seeks Proposals to Launch USDH Stablecoin—But Some Call Foul Play

Hyperliquid, a popular decentralized exchange with a dedicated layer-1 network, has opened proposals for teams to issue a USDH stablecoin that will be “Hyperliquid-first” and “Hyperliquid-aligned.” However, one established Hyperliquid stablecoin protocol is calling foul play, as it was previously blocked from using the USDH ticker. And the timing of the Foundation's announcement has drawn other questions, as well. The Discord announcement posted on Friday says the USDH ticker should go to a team...

by Ryan S. Gladwin ·

Aug 27, 2025

Ethereum. Image: Decrypt/Shutterstock

Opinion

Morning Minute: Ethereum to $7,500? Standard Chartered Thinks So

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today's top news: Crypto majors rebound, Solana leads +9%; Bitcoin at $111,300 Standard Chartered raises Ethereum price target to $7,500 for EOY HYPE hits ATH on back of XPL short liquidation wave Google Cloud building their own L1 blockchain Myriad crosses $10M in lifetime volume, adds new...

by Tyler Warner ·

Aug 18, 2025

Hyperliquid. Image: Decrypt/Hyperliquid

Markets

HYPE, SUI Lead Altcoin Losses as Ethereum Dips Under $4,300

Ethereum’s slip below $4,300 set off a chain reaction across crypto markets Monday morning, wiping out more than $487 million in long positions and leaving altcoins bleeding. Hyperliquid (HYPE) plummeted 8.7% to $43.38 while Sui (SUI) crashed 7.3% to $3.55, leading a brutal selloff across altcoins. Ethereum (ETH) shed 5.4%, Solana (SOL) tumbled 5.6%, and Cardano (ADA) declined 6.2%, according to CoinGecko data. XRP (XRP) fell 4.5%, Stellar (XLM) dropped 5.4%, and Dogecoin (DOGE) retreated 4.6%...

by Vismaya V ·

Jul 24, 2025

Hyperliquid. Image: Decrypt/Hyperliquid

Markets

Will Hyperliquid Hit $69.69 Before September? The Odds Don’t Favor Bulls

Will Hyperliquid’s native token continue to ride the HYPE and hit $69.69 by September? Degens are betting on it, but the odds aren’t currently in HYPE bulls’ favor. Hyperliquid has captured the attention of the crypto trading trenches in recent months, with the platform generating roughly $1.78 trillion in derivatives trading volume in the last year, per a Dune dashboard from SeaLaunch. Naturally, Hyperliquid’s native token HYPE—which powers the platform—has likewise generated a ton of interest,...

by Jose Antonio Lanz ·

Jul 22, 2025

Altcoins. Image: Shutterstock/Decrypt

Markets

Altcoins Including Ethereum, Dogecoin Slip as Market Cools Off

Altcoins including Ethereum and Dogecoin retraced on Tuesday as crypto markets pulled back from the euphoric highs seen just days after President Trump signed landmark stablecoin legislation into law. Among the top 20 cryptocurrencies, Hedera (HBAR) led losses, dropping 5.2% on the day, followed by Hyperliquid (HYPE), down 5.1%, according to CoinGecko. Ethereum (ETH) declined 2.6%, Chainlink (LINK) fell 3.3%, and Dogecoin (DOGE) dropped 1.5% in the past 24 hours. Other major altcoins followed su...

by Vismaya V ·

Jul 14, 2025

Project X among leading Hyperliquid projects. Image: Project X

DeFi

Project X Aims to Give DeFi a Shot of Dopamine—Like 'Uniswap With Rizz'

Hyperliquid has rapidly become a major player in decentralized finance, but Project X aims to level the playing field on the layer-1 HyperEVM chain that powers it—and seeks to become the frontend for the ecosystem in the process. In a space crowded with teams racing to build similar platforms, the team insists its strategy stands apart. Rather than focusing solely on technical innovation, Project X sits down with Decrypt for an exclusive interview on how it is taking a distribution-first approac...

by Erika Lee ·

Jun 16, 2025

Source: Shutterstock/Decrypt

Markets

Hyperliquid, Solana Lead Altcoin Rally as Institutions Pour $1.9B Into Crypto Funds

The crypto market's appetite for risk assets returned with force on Monday, with altcoins including Solana (SOL) and Ethereum (ETH) surging as traders rotated out of Bitcoin (BTC) following its successful test of the $106,000 level. SOL is up 6.1% in the last 24 hours, trading at $155.78, while ETH stands at $2,611, gaining 3.7% in the past 24 hours, CoinGecko data shows. Ethereum "came back into favour after 2.5 years of underperformance" following recent network upgrades, with the narrative sh...

by Vismaya V ·

Jun 11, 2025

Source: Shutterstock/Decrypt

Coins

Hyperliquid Token Leads Altcoin Rebound as Bitcoin Price Steadies

The Hyperliquid platform's native token, HYPE, is today the strongest performer among top 15 assets by market cap—excluding stablecoins. Its seven-day gains have outpaced major altcoins as Bitcoin volatility posts record lows for the year, pushing a relatively stable trading pattern. HYPE traded at $41.31, down 0.3% on the day, yet maintaining strong momentum with 12.4% weekly gains and 67.2% monthly appreciation, according to data from CoinGecko. It has sustained this uptrend since mid-May, wit...

by Vince Dioquino ·

Jun 3, 2025

Chart in the green. Image: Shutterstock/Decrypt

DeFi

How HYPE Surged on Hyperliquid’s Growing Perpetual Futures Stardom

HYPE, the native token of Hyperliquid, was a standout performer among altcoins in May, as traders flocked to the decentralized exchange’s perpetual futures offering, according to a report published by asset manager Grayscale on Monday. HYPE was recently changing hands around $37.72, a 14% increase over the past day, according to crypto data provider CoinGecko. Over the past 30 days, the token’s price has soared 80%. HYPE reached an all-time high of $39.68 just over a week ago. “Hyperliquid has s...

by André Beganski ·

May 26, 2025

Avalanche is up. Image: Shutterstock/Decrypt

Markets

Altcoins AVAX, HYPE, WLD, Fly As Bitcoin Hovers Near All-Time High

With Bitcoin (BTC) holding just under its all-time high Monday morning, altcoins have posted gains in recent days—albeit with most tokens still a fair distance from their peaks. Avalanche (AVAX) is one of the biggest altcoin winners on the day, climbing 5.8% to $23.67 over the past 24 hours in the wake of last week's London Avalanche Summit. During the event, it was announced that the soccer governing body FIFA will migrate its FIFA Collect NFT platform to its own dedicated Avalanche layer-1 blo...

by Ryan S. Gladwin ·

May 21, 2025

DeFi

Hyperliquid Trader's $1 Billion Bitcoin Bet Seesaws Amid Price Volatility

An investor’s $1 billion Bitcoin bet on the decentralized exchange Hyperliquid swung massively on Wednesday, with their account surviving a $32 million drawdown on paper, as the asset’s price ping-ponged on a volatile day of trading.  The user, controlling a wallet starting with “0x507,” saw their position whipsaw between a profit and a loss, hours after topping off the 40x leveraged long position, according to blockchain explorer HypurrScan. Bitcoin rose to a record $109,500 earlier in the day....

by André Beganski ·

Mar 26, 2025

A person drowning. Photo: Shutterstock

DeFi

Hyperliquid Delists Surging Solana Meme Coin to Avoid Liquidation Crisis

Decentralized exchange Hyperliquid delisted perpetual futures for the Solana-based meme coin JELLYJELLY on Wednesday, describing the move as critical to ensuring its network’s integrity amid a looming liquidation crisis. Hyperliquid uses its own high-speed blockchain, built upon the Ethereum layer-2 network Arbitrum, and the project said its networks’ validators had convened to take “decisive action,” in a post on X (formerly Twitter). The decision came after a Hyperliquid user opened a $6 milli...

by André Beganski ·

Mar 18, 2025

Image: Imagepocket/Shutterstock

Markets

Bitcoin Whale Dumps $521 Million Short for Profit, Goes Long on Melania Trump Meme Coin

A crypto whale that opened over 300 heavily leveraged short positions on Bitcoin, totaling more than $521 million, closed the shorts on Tuesday and pocketed a profit of $3.9 million. This green trade was made despite a platoon of crypto traders looking to wreck the whale’s position, seeking to boost the price of Bitcoin above the liquidation level. A short trade is a bet that an asset’s price will drop; the lower it goes, the more money the trader makes. In this scenario, the whale had placed a...

by Ryan S. Gladwin ·

Mar 12, 2025

DeFi

HYPE Token Drops as Leveraged Trade Sparks $4 Million Loss for Hyperliquid

Decentralized exchange Hyperliquid said on Wednesday that a user was able to profit on a highly leveraged Ethereum trade before it was liquidated. A user with a wallet beginning in “0xf3f4” was able to make $1.8 million in profit before the position was forcibly closed, the DEX said in a post on X, formerly known as Twitter. Hyperliquid emphasized that the $285 million Ethereum trade was not related to a “protocol exploit or hack.” But the user’s bet, which relied on 50x leverage to supercharge...

by André Beganski ·

Dec 23, 2024

Image: ozrimoz/Shutterstock

DeFi

Hyperliquid Token Plunges 21% Amid Fears of Looming North Korea Hack

North Korean hackers are reportedly kicking the tires on one of crypto’s hottest, newest, multi-billion dollar crypto projects—and the development is causing panic. A crypto wallet associated with a North Korean hacking group recently lost nearly $500,000 on Hyperliquid, according to MetaMask’s Taylor Monahan—a noted on-chain sleuth and tracker of North Korean crypto activity. Per Monahan’s X post on Sunday, that activity was almost certainly a ploy to better understand Hyperliquid and pinpoint...

by Sander Lutz ·

Nov 29, 2024

Image created by Decrypt using AI

DeFi

Worth the HYPE: Hyperliquid Gives Out $1.6 Billion in One of the Largest Airdrops Ever

The Hyper Foundation completed the genesis distribution of the HYPE token, the native token of the Hyperliquid Network—a high-speed blockchain built for decentralized finance (DeFi)—airdropping more than $1.6 billion worth of tokens to users based on the peak price of $5.40 since the overnight launch. Hyperliquid users received 31%, or 310 million of the total 1 billion HYPE supply as part of the genesis distribution, with another 38.88% set aside for future emissions and community rewards. Nota...

by Logan Hitchcock ·