Hyperliquid Gains 10% Amid Whale Buys and Record Revenue

Hyperliquid

Hyperliquid (HYPE) jumped 9.82% today to $36.23, supported by a 76% surge in daily trading volumes to $319 million. The sharp upward movement comes on the heels of Binance.US announcing it will list the HYPE token for spot trading. Shared via X (formerly Twitter), the news has acted as a bullish catalyst, reinforcing Hyperliquid’s growing footprint in the decentralized finance (DeFi) ecosystem. The listing underscores a key milestone as the protocol expands its reach across U.S.-based crypto traders.

Simultaneously, Hyperliquid has recorded its highest-ever monthly trading volume in May 2025. Capturing nearly 75% of the decentralized perpetual exchange market, it has outpaced even DeFi giants like Ethereum and Solana in revenue generation—driven in part by its role in processing high-stakes trades from notable crypto traders.

Whale Confidence and Open Interest Push HYPE Higher

Institutional interest is heating up. Spot On Chain reported that a crypto whale recently purchased 110,824 HYPE tokens worth $3.99 million at an average price of $36. The investor subsequently opened a leveraged long position with 4x leverage, signaling strong bullish sentiment. CoinGlass data confirms the momentum, showing HYPE futures open interest rising 13% to $1.41 billion. Meanwhile, $1.1 million in 24-hour short liquidations suggests growing confidence among traders betting on further upside.

Given this activity and a supportive trading volume, HYPE appears poised to test its all-time high of $40 and possibly enter a new price discovery zone.

Also Read: Hyperliquid DEX Overtakes Ethereum and Solana in Revenue as HYPE Token Soars 75%

Analysts See Upside Potential to $105 Based on Valuation

Crypto analyst daz.hl believes HYPE could reach between $84 and $105. He points to the protocol’s robust financials—namely, $2.4 million in daily revenue, translating to an annualized $900 million. With an adjusted market cap of $11 billion (after excluding the Asset Fund’s holdings), HYPE trades at a price-to-earnings ratio of 12—far below the S&P 500’s average of 28 and the tech sector’s 35. If current growth holds, analysts argue HYPE is significantly undervalued and could rally much further.

As Hyperliquid continues dominating DeFi volume and attracting institutional capital, its price trajectory appears increasingly bullish.

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