Hyperliquid has surpassed $1.57 trillion in perpetual futures trading volume over the past year, while its HYPE token continues its bullish trajectory.
By Parth Dubey
Editor Hamza Tariq
Updated
2 mins read
Decentralized exchange Hyperliquid HYPE $39.78 24h volatility: 1.5% Market cap: $13.29 B Vol. 24h: $250.09 M has surpassed $1.571 trillion in perpetual futures trading volume over the past 12 months.
According to Sealaunch data on Dune Analytics, the platform earned $56 million in fees and revenue this month, bringing its cumulative revenue to $310 million.
Notably, Hyperliquid recorded $248 billion in perpetual futures volume in May alone. For June, the exchange has already achieved $208 billion, significantly outpacing its competitors, with all other onchain perpetual platforms combined reaching $140 billion in the same period.
Hyperliquid’s trading volume saw a notable increase at the end of 2024 during the $1.2 billion HYPE token airdrop campaign. This strategic distribution helped onboard new users and boost liquidity on the platform, positioning Hyperliquid as a leader among decentralized perpetual exchanges.
Earlier this year, Hyperliquid expanded its ecosystem by launching HyperEVM, an Ethereum-compatible network for seamless deployment of smart contracts and decentralized applications.
Hyperliquid’s native cryptocurrency, HYPE, has emerged as one of this year’s top performers, gaining 1140% since launch.
HYPE is trading around $39.69 at the time of writing. In June alone, HYPE gained over 27%, adding more than $2 billion in market capitalization.
On the daily HYPE price chart, Bollinger Bands show a tightening structure, indicating a potential breakout. The price is above the mid-band (20-day SMA) at $38.49, with the upper band near $43.45 acting as immediate resistance.
HYPE price chart with RSI and Bollinger Bands | Source: Trading View
Meanwhile, the RSI is suggesting mild bullish strength without being overbought. If it climbs further above with strong volume, a bullish continuation would be confirmed with a price target of $48 in the mid-term.
Meanwhile, the MACD seems to be on the verge of a bullish crossover if the trading volume maintains. If HYPE fails to hold above the $38 buy wall, it could test $35 and $33.50 support levels.
HYPE price chart with MACD | Source: Trading View
BitMEX co-founder Arthur Hayes previously predicted that HYPE could reach $100 if the buzz around popular crypto trader James Wynn’s trading continues.
This is the best advertising for $HYPE.
Let's take this mother fucker to $100.
Yachtzee https://t.co/LYru8GfB8t
— Arthur Hayes (@CryptoHayes) May 21, 2025
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
