The HYPE token hits record highs as Hyperliquid sees a massive surge in trading volume and user activity.
HYPE Token Reaches New All-Time High
HYPE, the native token of the Hyperliquid platform, recently hit an all-time high of $39.83. The spike was driven by growing interest and large-scale purchases by crypto “whales.” Open interest surpassed $1.3 billion, signaling strong demand and an early-stage growth phase for the project. HYPE is positioning itself as a major player in the decentralized finance (DeFi) space, supported by high trading volumes and strategic market activity.
Trader Turns $2.95 Million into Nearly $30 Million
One of the most impressive developments is the story of the trader behind wallet address 0x15b3, who turned $2.95 million into $29.76 million in less than two months using the Hyperliquid platform. According to Lookonchain, this occurred during a market crash between April 7 and 9, when Bitcoin fell below $75,000. While most investors panicked, the trader created a new wallet, deposited USDC, and opened long positions on 16 tokens — including HYPE, ETH, SOL, BTC, ENS, and LTC. His strategic approach during the market correction resulted in extraordinary gains.
Hyperliquid’s Accelerated Rise
Launched on January 6, Hyperliquid supports the metaverse and gaming platform Hyperfy through its HYPE token. The platform has reported exponential growth in trading volume — between May 11 and 18, it recorded a weekly trading volume of $78.67 billion. On May 21 alone, it peaked at $17.73 billion in daily volume. According to DefiLlama, total trading volume has already surpassed $1.15 trillion.
Other key metrics are also rising — open interest exceeded $10.1 billion, locked funds in USDC reached $3.5 billion, and the platform generated $5.6 million in fees in a single day, totaling $22 million in just one week.
Increased Buying Pressure Pushes Price Higher
The price of HYPE has surged over 50% this month, supported by strong trading volume and growing buyer interest. On May 26 alone, daily volume exceeded $460 million. Whale activity is also increasing — three major buyers invested over $5 million into HYPE in a single day, signaling continued optimism around the token.
Conclusion:
Hyperliquid is solidifying its position as a leading platform in the DeFi space, and the HYPE token is emerging as a serious contender with immense potential. The story of a trader who earned nearly $30 million and the platform’s growing metrics highlight the significance of this rising market leader.
Frequently Asked Questions
Find answers to the most common questions below.
Hyperliquid is a decentralized derivatives trading platform that supports hyper-scalable trading and integrates with the metaverse project Hyperfy. It’s gaining traction due to high trading volumes, strategic tokenomics, and fast-growing user activity.
HYPE is the native token of Hyperliquid, used for governance, staking, and rewards. Its rapid price growth is driven by whale interest, low supply, and high platform utility.
By strategically opening long positions on major tokens like HYPE, ETH, and SOL during a market dip, the trader took advantage of the rebound and massive trading volumes on Hyperliquid, generating nearly $30 million in profit in under two months.
This article is for general informational purposes only and is not intended to be, and should not be construed as, legal or investment advice. Crypto-assets are highly volatile, so only invest funds that you are willing to lose and use your own research and risk management.
