- Hyperliquid token (HYPE) hit a new all-time high of $50.99 after surging 22% in a week.
- Record trading volumes, whale activity, and rising locked value have strengthened its position as a leading decentralized exchange.
Hyperliquid token (HYPE) has reached a new milestone, climbing to an all-time high of $50.99 on August 27. The price surge marks a 22% increase over the past week and a sharp 14% jump in just a single day, signaling strong demand and heightened activity across the platform.
Hyperliquid Derivatives and Open Interest See Significant Growth
According to Coinglass, Hyperliquid derivatives trading has expanded by 24% in the last 24 hours, totaling $14.57 billion. Open interest also climbed nearly 17% to $2.33 billion, highlighting the rise of speculative trading positions. During this price breakout, short positions worth over $1.76 million were liquidated, leaving many traders who bet against the rally with unexpected losses.
Whale Activity and Exchange Performance Boost HYPE
HYPE’s rally has been supported by growing whale activity and record-breaking performance on the Hyperliquid decentralized exchange. On August 26, spot trading volumes peaked at $3.4 billion in a single day, driven primarily by Bitcoin trades. This surge positioned Hyperliquid as the world’s second-largest platform for spot Bitcoin trading across both centralized and decentralized markets.
Monthly and Locked Value Records Strengthen Outlook
The platform’s growth extends beyond daily performance. In August alone, Hyperliquid’s decentralized trading volume has surpassed $18 billion, far exceeding July’s $11 billion. Additionally, the total value locked (TVL) on the platform has reached a record $721 million, reinforcing investor confidence in its ecosystem.
The rapid growth of HYPE’s price, coupled with record-breaking trading volumes and rising TVL, reflects the platform’s expanding role in the crypto market. With whales actively participating and traders flocking to both derivatives and spot markets, Hyperliquid is cementing its place among the leading decentralized exchanges. If the platform sustains this pace, its influence on Bitcoin trading and the wider crypto ecosystem is likely to grow even further.
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