Hyperliquid jumped by 330% from its lowest stage in April and could possibly be on the verge of extra features after crossing a key $2 billion milestone.
Hyperliquid’s (HYPE) worth was buying and selling at $40.4 on Sunday, June 15, a couple of factors under the all-time excessive of $43.96. Its market capitalization has moved to $13 billion, whereas its absolutely diluted valuation rose to $40.75 billion.
DeFi Llama knowledge exhibits that the full worth locked of Hyperliquid’s layer-1 chain has jumped to $2.01 billion after hovering by 70% within the final 30 days. This progress makes it the eleventh largest chain within the crypto business, passing widespread networks like Cardano, Hedera Hashgraph, and Close to Protocol.
The most important gamers in Hyperliquid’s layer-1 community are Hyperliquid itself, Hyperlend, Felix, Morpho, and Hyperbeat.
Additional knowledge exhibits that Hyperliquid has change into one of many largest gamers within the stablecoin business. It has $3.7 billion of stablecoins in its layer-1 community, a giant enhance from $2 billion in January this 12 months.
A rise in stablecoin quantity is an indication that the community is extremely lively. Most significantly, Hyperliquid is the sixth largest participant within the stablecoin business after Ethereum, Tron, Solana, BNB Chain, and Base.
In the meantime, Hyperliquid’s perpetual change has continued to achieve share in its business. It dealt with over $4.43 billion value of transactions within the final 24 hours, a lot larger than the opposite top-ten platforms mixed. Its month-to-month quantity jumped to $242 billion.
Extra knowledge exhibits that buyers are staking their HYPE tokens, because the staking market cap has jumped by 16% within the final seven days to $17.1 billion.
HYPE worth technical evaluation
The eight-hour chart exhibits the HYPE worth has been in a powerful uptrend prior to now few months, shifting from a low of $9.29 in April to $40 at the moment. It has moved above the ascending trendline that connects the bottom factors since Might 12.
Hyperliquid token is above the 50-period and 100-period shifting averages and the important thing help at $39.94, the best level in Might. Due to this fact, the token will possible proceed rising as bulls goal an all-time excessive of $43.95. A transfer above that stage will level to extra features, probably to the psychological level of $50.
