SpaceX · Cointelegraph
Given that HYPE futures open interest increased during the period, short sellers appear to be doubling down despite the losses
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◌ Single Source
HYPE circulating supply stood at 253.41 million on Tuesday, while the maximum supply reached 953.92 million according to CoinMarketCap data.
Key facts
- Hyperliquid’s native token HYPE rallied 44% over five days, hitting a $76.90 all-time high on Tuesday
- For comparison, the market capitalization of the highly profitable financial company Aon Plc (AON US) stood at $70 billion
- Overall, a surge to $80 for HYPE doesn’t seem out of reach considering Hyperliquid’s revenue generation and growth potential in Real World Assets (RWA) trading
- Hyperliquid DEX held a 53% market share in perpetual trading volumes, followed by Binance at 14%, Bybit at 9% and Bitget at 8% according to DefiLlama data
Summary
Despite mixed HYPE derivatives market signals, Hyperliquid’s explosive TradFi perpetual growth makes a push toward $80 increasingly realistic. Hyperliquid defies the crypto bear market with $3 billion HYPE open interest, 32% growth in a week. Hyperliquid’s TradFi innovation, like SpaceX pre-IPO trading, signals that the path to $80 HYPE price looks well-supported. Hyperliquid’s native token HYPE rallied 44% over five days, hitting a $76.90 all-time high on Tuesday. With Hyperliquid decentralized exchange (DEX) volumes showing no signs of weakness amid the cryptocurrency bear market, traders question the odds of further HYPE gains above $80.