Last weekend marked a historic day for Hyperliquid as its trading volume for perpetual contracts soared to $11.5 billion, accompanied by a staggering $1.32 billion in liquidations—both setting new all-time highs.
Despite the market turbulence, Hyperliquid’s native token, HYPE, demonstrated remarkable resilience. The token rebounded swiftly after the market dip, briefly surpassing $33 to reach a new all-time high.
The Assistance Fund currently holds approximately 11.234 million HYPE tokens, valued at around $356 million, highlighting its significant stake in the ecosystem.
According to data from CoinGecko, HYPE has surged 25% in the past 24 hours, reflecting strong investor confidence. This rise has propelled HYPE into the ranks of the top 20 cryptocurrencies, with a market capitalization of $10.9 billion. The token has overtaken well-established projects like Stellar (XLM) and Polkadot (DOT) in market value. Furthermore, HYPE’s Fully Diluted Valuation (FDV) now stands at an impressive $32.8 billion.
Coingecko data shows that Hyperliquid's token HYPE has risen by 25% in the past 24 hours, with a total market value of $10.9 billion, entering the top 20, surpassing XLM and DOT, and FDV is $32.8 billion. https://t.co/dRqZYjwCyM
— Wu Blockchain (@WuBlockchain) December 21, 2024
This rapid ascent underscores Hyperliquid’s growing dominance in the crypto space, fueled by record-breaking trading activity and a robust tokenomics model. The platform’s innovative features and strong market performance have solidified its position as a key player in the decentralized finance (DeFi) landscape.
As HYPE continues to attract attention and capital, its remarkable growth trajectory is a testament to Hyperliquid’s potential to reshape the crypto trading ecosystem. With new milestones being set, all eyes are on HYPE and Hyperliquid as they continue to push the boundaries of what’s possible in the world of digital assets.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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