Hyperliquid recently faced a significant stress test, courtesy of renowned crypto trader James Wynn. Over the past three months, Wynn placed $1 billion in high-leverage trades on the platform—most notably during a volatile Bitcoin downturn that saw him lose $100 million in just one week. Despite the turmoil, Hyperliquid proved resilient, smoothly executing these massive trades thanks to its innovative partial liquidation mechanism introduced in March. This system allowed Wynn’s leveraged positions to unwind without requiring intervention from Hyperliquid’s liquidity providers (HLP), cementing the DEX’s operational robustness.
HYPE Token Soars 75% Amid Growing Investor Confidence
The platform’s native token, HYPE, has surged 75% over the past month, trading at $32.50 with daily volumes nearing $400 million. Its market cap now stands at $10.7 billion, placing HYPE among the top 15 cryptocurrencies.
The token’s rise mirrors the broader success of the Hyperliquid ecosystem, which has seen its total value locked (TVL) double in 30 days to $1.46 billion—ranking it among the top 10 blockchain platforms. Crypto analyst Altcoin Sherpa recently noted that sub-$30 levels present a compelling entry point for investors.
$HYPE anything sub $30 is a gift imo
— Altcoin Sherpa (@AltcoinSherpa) May 29, 2025
eyes on that region personally
HyperLiquid pic.twitter.com/t2GORIskWR
Coinbase Embraces HYPE Perpetual Futures in Major Listing
Further validating Hyperliquid’s ascent, Coinbase announced plans to support HYPE perpetual futures on both its International Exchange and Coinbase Advanced platform. The HYPE-PERP market is scheduled to go live on or after 9:30 AM UTC on June 5, 2025.
We will add support for Hyperliquid perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our HYPE-PERP market will begin on or after 9:30 am UTC 5 JUN 2025. $HYPE pic.twitter.com/izbvchlRQP
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) May 29, 2025
This move marks a major step in Coinbase’s strategy to expand its derivatives offerings and engage more advanced traders, further boosting Hyperliquid’s visibility in the global crypto market.
Also Read: Hyperliquid (HYPE) Eyes Bullish Reversal After Wedge Breakout
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
