Hyperliquid $HYPE Jumps 23% as Volume and Onchain Demand Rise
Hyperliquid (HYPE) is one of the top-performing tokens today, climbing 23.63% in the past 24 hours to trade at $27.57. The sharp price increase is supported by a noticeable rise in market activity, with 24-hour trading volume reaching $518.21 million, up more than 119% from the previous day. This combination of strong price action and expanding volume suggests the move is driven by genuine demand rather than low-liquidity volatility.
HYPE’s market capitalization has grown to $8.32 billion, reflecting renewed investor confidence in the Hyperliquid ecosystem. The protocol has gained attention for its onchain perpetuals trading platform, which offers fast execution, deep liquidity, and a user experience comparable to centralized exchanges. Increased trading activity on the platform often translates into stronger demand for the HYPE token, reinforcing bullish momentum.
From a tokenomics perspective, Hyperliquid has a fixed maximum supply of 961.67 million HYPE, removing inflation uncertainty. However, only 302.07 million tokens are currently in circulation, meaning future unlocks remain a factor traders are monitoring closely. With a volume-to-market-cap ratio of 6.2%, liquidity remains healthy, supporting today’s rally.
Overall, HYPE’s surge appears to be fueled by ecosystem growth, rising usage, and positive market sentiment, positioning the token strongly in the current market cycle.
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