DeFI News by Thebittimes.Com

Hyperliquid (HYPE) rallied sharply over the last 24 hours, outperforming most major cryptocurrencies. Notably, the price of HYPE surged 8%, rising from a low of $34.87 to as high as $39.06. With 336.7 million tokens in circulation, Hyperliquid’s market cap reached about $13.1 billion. HYPE daily price chart (24H). Source: Finbold Amid the rally, the daily trading volume surged over 15%, exceeding $691.2 million, according to CoinMarketCap data. Meanwhile, the price of Bitcoin (BTC) and Ethereum (ETH) recorded brief spikes — 1.07% and 0.8% respectively — at the time of Analysis . What’s behind HYPE’s price rally The token’s price rally aligns with a strategic corporate move aimed at advancing the Hyperliquid ecosystem through a “leading HYPE treasury strategy.” On October 22, a merger-stage entity, Hyperliquid Strategies Inc. (HSI), filed an S-1 registration with the U.S. SEC, stating plans to raise $1 billion by offering up to 160 million shares ...

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A widely followed crypto strategist thinks several fundamental factors are conspiring to send the layer-1 protocol Hyperliquid (HYPE) to much higher valuations. Pseudonymous analyst Flood tells his 255,500 followers on the social media platform X that he’s bullish on the decentralized exchange even after HYPE printed a new all-time high of $39.68 yesterday. According to the analyst, HYPE is “still cheap” when you take into account the platform’s growth trajectory in the decentralized exchange space. “Why do you still get paid on buying HYPE at $39: – Lots of normies unable to buy, these people cannot figure out how to get on-chain – Spot not listed in any tier-one exchange – Claiming token is expensive here is not pricing in any growth, while Hyperliquid’s been growing open interest double-digit percentage week-over-week – $770,000,000 at present revenues of buybacks (market buys) – Exchanges a...

The Hyperliquid price dropped 10% in the last 24 hours to trade at $23.34 as of 3:30 a.m. EST on trading volume that skyrocketed 64% to $342.8 million. The HYPE price went down from yesterday’s peak at $26.86 to $22.32 before seeing a slight recovery to its current price. Currently, its price appears to be fluctuating between $22.5 and $24. Interestingly, the project saw its price go down despite the launch of HyperEVM, which it views as a major step toward the vision of housing all finance by bridging general-purpose programmability to Hyperliquid’s performant financial system. The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system. The initial mainnet release of the HyperEVM includes: 1. HyperEVM blocks built as part of L1 execution,… pic.twitter.com/sleqk1N7T5 — Hyper Foundation (@HyperFND) February 18, 2025 The HyperEVM went liv...