Hyperliquid (HYPE) has outpaced the broader crypto market with 12% gains, as influencers take massive BTC, ETH leveraged bets on the DEX.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
3 mins read
Hyperliquid price HYPE $41.89 24h volatility: 6.8% Market cap: $13.99 B Vol. 24h: $528.69 M has outperformed the broader crypto market rally with 12% gains in the last 24 hours, once again approaching its all-time high of $40 and entering the price discovery zone.
The decentralized exchange has gained massive attention with popular influencers like Andrew Tate using the platform to take leverage crypto bets on Bitcoin BTC $109 591 24h volatility: 0.2% Market cap: $2.18 T Vol. 24h: $34.24 B and Ethereum ETH $2 796 24h volatility: 4.5% Market cap: $337.47 B Vol. 24h: $35.62 B .
Additionally, exchanges like Binance.US have hinted at listing the HYPE token amid the recent fanfare. This has further triggered massive whale activity for the altcoin.
On June 10, Andrew Tate shared a snapshot of his 25x leveraged long Ethereum bet on the Hyperliquid platform. With Ethereum price up 7% in the last 24 hours, and moving to $2,700, Tate is already sitting on a massive 138% profit.
Following crypto trader James Wynn’s $1 billion Bitcoin bets last month, Tate posted about his $100 million Bitcoin long bet on Sunday, June 8. Since then, the BTC price has appreciated more than 4%, now trading above $109K, and is looking to enter a price discovery zone, eyeing fresh all-time highs.
Note: Andrew Tate has deleted his tweets from June 8 and June 9, on his leveraged long bets for BTC and ETH.
Interestingly, Andrew Tate selected the decentralized exchange Hyperliquid for his perpetual futures bets, triggering a massive HYPE price action today. Furthermore, according to CoinGlass data, the HYPE open interest has surged by 12% to $1.68 billion, highlighting strong bullish sentiment among traders. Also, the daily trading volume is up by a massive 147% to $373 million today.
Binance.US has sparked speculation about listing Hyperliquid (HYPE) tokens, teasing the potential addition just a week after initial rumors surfaced. The platform seems to be warming up the users by posting key facts related to the decentralized trading platform.
Don't know what all the $HYPE is about? Lock in with some fast facts about Hyperliquid. 🫡 pic.twitter.com/bBPOhxrkKM
— Binance.US 🇺🇸 (@BinanceUS) June 8, 2025
Additionally, Hyperliquid is emerging as a strong contender to Binance’s dominance in trading volume. In May 2025, Hyperliquid reported a record-breaking $248 billion in perpetual trading activity, setting a new all-time high for monthly futures volume. This figure marks a staggering 843% year-over-year increase compared to the $26.3 billion recorded in May 2024.
Furthermore, as per on-chain data, a Hyperliquid whale purchased 259,367 HYPE tokens for $9.976 million in $USDC, averaging $38.46 per token. This investor has reportedly realized over $10 million in lifetime profits from HYPE trades.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
