Hyperliquid Price

Coin Prices

0G

$1.32

26.74%

Price data by

DecryptHyperliquid

Enter a coin name to search

Hyperliquid

hype

$41.85

6.51%

Decentralized Exchange (DEX)

Smart Contract Platform

Exchange-based Tokens

Decentralized Finance (DeFi)

24-Hour Range

$38.11

$43.16

Low

High

Market Cap (Mcap)

Rank

#17

Mcap

$11.33B

Fully Diluted Mcap

$41.83B

Supply

Circulating

270,772,999

Total

1,000,000,000

Created On

N/A

All Time High (ATH)

ATH

$59.30

ATH Change

-29.5%

ATH Date

Sep 18th, 2025

Total Value Locked (TVL)

TVL

$5.35B

MCap to TVL Ratio

2.12

FDV to TVL Ratio

7.82

Enter a coin name to search

Hyperliquid Chart

Price

Volume

Market Cap

Other coins

Binance Bridged USDT (BNB Smart Chain)

Ethena USDe

LEO Token

Learn about Hyperliquid

What Is Hyperliquid? The Decentralized Exchange With Its Own Blockchain

Hyperliquid’s decentralized exchange has rapidly grown to become one of the biggest projects in crypto. Here’s how it works.

Hyperliquid News

Oct 29, 2025

Markets

21Shares Applies for Hyperliquid ETF as New Crypto Funds Hit Market

Exchange-traded fund issuer 21Shares has applied for an exchange-traded fund tracking the token of the Hyperliquid decentralized exchange, according to a U.S. Securities and Exchange Commission filing on Wednesday. The 21Shares Hyperliquid ETF would potentially become the second HYPE-focused ETF to trade on U.S. exchanges, following a proposal by Bitwise in September. The 21Shares product would use America's largest crypto exchange by trading volume, Coinbase, and digital asset trust company Bi...

by Mat Di Salvo · 2 min read

Oct 29, 2025

Long Reads

Crypto Perps Are Easier to Access Than Ever Before—Is That A Good Thing?

Perpetual futures are crypto’s hottest trading strategy right now, with traders flocking to these high-risk bets on high-risk assets in record numbers. But as access to these products gets easier, now available to anyone with a crypto wallet or a Telegram account, analysts warn they present the crypto market with a “double-edged sword.” Perpetual futures, or perps, are derivative contracts with no expiration date that allow users to place leveraged bets, using borrowed capital, on the future pri...

by Ryan S. Gladwin · 6 min read

Oct 28, 2025

Coins

‘Runaway Bot’ Sends HYPE Token to $98 in One Minute on Lighter DEX

A "runaway bot" triggered a violent price spike for the HYPE token, briefly sending it to $98 and igniting a debate over liquidity and frontend transparency on decentralized exchanges. Hyperliquid’s HYPE token skyrocketed from $47 to roughly $98 in a minute on the decentralized exchange Lighter before crashing back down on Monday. A runaway bot jammed through the HYPE book with size, there were no liquidations or other adverse effects beyond this. Low volume was traded at very high prices, lea...

by Akash Girimath · 3 min read

Oct 10, 2025

Coins

Hyperliquid User Loses $21 Million Due to Private Key Compromise, Experts Say

A hacker stole $21 million worth of crypto from a Hyperliquid user after their private key was leaked, on-chain security firm PeckShield said. The attacker has since bridged the stolen funds to Ethereum, including $17.75 million worth of the DAI stablecoin. In crypto, a private key is a series of numbers and letters that proves control of a wallet and allows a user to sign transactions. This means that when this key is compromised, a malicious actor is able to sign transactions from the wallet—a...

by Ryan S. Gladwin · 3 min read

Sep 27, 2025

The Projects

What Is Hyperliquid? The Decentralized Exchange With Its Own Blockchain

Decentralized perpetual futures exchange Hyperliquid has gone from being a market maker to one of the biggest crypto projects in the world. Hyperliquid has processed trillions of dollars in volume in its lifespan and is now the third-largest decentralized exchange in crypto—trailing only industry veterans PancakeSwap and Uniswap. It has been the talk of the town in 2025, but what exactly is Hyperliquid? Why do people care so much about it? And how did it grow to be one of the biggest projects in...

by Ryan S. Gladwin · 6 min read

Sep 26, 2025

Markets

Crypto Market Battles Sea of Red and Growing Fear, But HYPE Floats

The crypto market is nursing a nasty hangover after a major panic episode earlier this week, with the total market cap of crypto sliding 1.8% to $3.75 trillion as the infamous Red September curse threatens to claim another victim. Yet in this sea of red, there’s at least one token staying afloat: Hyperliquid's HYPE is up a defiant 9.26% and standing as the only cryptocurrency in the top 11 showing green on the day. Meanwhile, traditional markets are playing a different tune entirely—the S&P 500...

by Jose Antonio Lanz · 7 min read

Sep 26, 2025

DeFi

$3.6M Drained From Hyperliquid DeFi Platform Hypervault in ‘Abnormal Withdrawal’

Some $3.6 million has been sent from Hyperliquid yield farming platform Hypervault Finance to crypto mixer Tornado Cash in an “abnormal withdrawal.” Security firm PeckShield noted the transfer, in which $3.6 million worth of cryptocurrencies were bridged to the Ethereum chain before being transferred to Tornado Cash. CertiK, a Web3 security service provider, disclosed the specific wallets linked to the suspected withdrawals. #PeckShieldAlert #Rugpull? We have detected an abnormal withdrawal of...

by Akash Girimath · 2 min read

Sep 24, 2025

Markets

Crypto Traders Have a New Fave in Aster as It Jumps 2,000% in 7 Days: How High Can It Go?

After a choppy start to the week, the crypto market is slowly inching back upwards today. But with Bitcoin and most other major cryptocurrencies stuck in rangebound trading, there’s one coin out there getting degens excited: the Hyperliquid rival, Aster. The Aster token is currently trading at a $3.8 billion market cap, and an $18 billion fully diluted valuation, after debuting just one week ago. Here’s what’s going on, what the charts have to say about Aster's rapid rise: Aster: An explosive...

by Jose Antonio Lanz · 4 min read

Sep 24, 2025

Coins

'Hyperliquid-Aligned' USDH Native Markets Stablecoin Goes Live as HYPE Falls

Hyperliquid’s highly anticipated USDH stablecoin has gone live, after the newly formed firm Native Markets won the ticker bid last week. Native Markets claimed that over $15 million worth of the stablecoin was pre-minted in the 24 hours before it went live on Wednesday. Earlier this month, Hyperliquid opened proposals to take over the USDH ticker on the network. As a result, a stream of crypto companies put their hats in the ring, including the likes of Paxos, Agora, and Ethena—the last of those...

by Ryan S. Gladwin · 4 min read

Sep 24, 2025

DeFi

Aster vs Hyperliquid: BNB Chain DEX Perps Volume Derails the HYPE Train

The battle of the DEXs is hotting up, as BNB Chain-based decentralized exchange Aster has helped its parent chain to surpass Hyperliquid’s 24-hour perpetual trading volume. BNB Chain’s 24-hour perpetual volume stands at $21.6 billion, overtaking Hyperliquid’s $10.7 billion, according to data from Dune Analytics. EdgeX and Light followed closely with $8.2 billion and $6.2 billion, respectively. In terms of overall trading volume, the two exchanges are jockeying for position. Per CoinGecko data,...

by Akash Girimath · 3 min read

Sep 23, 2025

Markets

Aster Token Skyrockets to New High After Flipping Hyperliquid in Revenue—Will the Price Double Again?

Aster, an emerging decentralized exchange on the Binance Smart Chain, has been flying lately, with its token jumping 47% over the last day and setting a new all-time high of $2.12 on Tuesday afternoon. And predictors on Myriad, a prediction market developed by Decrypt’s parent company Dastan, believe there is a 45% chance Aster continues its charge and hits $4 by the end of October. That would nearly double its current price of $2.06. Aster has generated $4.58 million in daily revenue, according...

by Ryan S. Gladwin · 2 min read

Sep 22, 2025

Markets

Hyperliquid’s HYPE Slumps as Attention and Capital Rotate to New DEX Tokens

Hyperliquid's HYPE token is on its fourth consecutive day of a downtrend, while recently launched decentralized exchange tokens have more than doubled over the weekend. “There’s definitely been an attention shift over the past few days,” Illia Otychenko, lead analyst at CEX.IO told Decrypt, as decentralized exchange tokens including Aster and Avantis, and STBL surged by as much as 124%, 125% and 147% respectively over the weekend, per TradingView data. Hyperliquid, on the other hand, has shed o...

by Akash Girimath · 2 min read

Sep 17, 2025

Markets

XRP, BNB, and Hyperliquid Lead Crypto Gains Ahead of Crucial Fed Decision

With the Fed’s crucial interest rate decision in less than 12 hours, a select few altcoins have taken the lead, outperforming others. BNB takes the lead with a 2.5% return in 24 hours, closely followed by Sui, Hyperliquid, and XRP with 2.2%, 1% and 0.7% growth, respectively. Altcoins are riding on the coattails of coin-specific developments and not due to the U.S. Federal Reserve’s rate cut decision scheduled on Wednesday at 2 pm ET, Lai Yuen, investment analyst at Fischer8 Capital, told Decryp...

by Akash Girimath · 2 min read

Sep 10, 2025

DeFi

Hyperliquid: The Biggest Crypto Projects Battling for the USDH Stablecoin

Hyperliquid suddenly has a swarm of suitors making passionate pleas for its hand in marriage to create the USDH stablecoin. It's a drama that kicked off last week and has now reached a fevered pitch as some of the biggest crypto companies around compete for the highly sought-after USDH ticker—culminating in an on-chain vote by Hyperliquid stakeholders on Sunday. Major companies like Paxos, Sky, and Frax Finance have thrown their hats in the ring alongside Ethena, with backing from a BlackRock ex...

by Ryan S. Gladwin · 7 min read

Sep 9, 2025

DeFi

BlackRock Exec Pitches Hyperliquid on Ethena’s Stablecoin Proposal

Ethena Labs, makers of the synthetic-dollar protocol, cast its name into the USDH ring on Tuesday, presenting itself as a potential suitor for issuing Hyperliquid’s stablecoin. The decentralized exchange and layer-1 network is currently being powered by Circle’s USDC and Tether’s USDT0, but Hyperliquid’s community is currently soliciting proposals on a “Hyperliquid-alinged” stablecoin that could serve as an alternative. Proposals have already been penned by entities including stablecoin issuer P...

by André Beganski · 3 min read

Sep 9, 2025

Coins

Hyperliquid Sets New All-Time High Above $55 as USDH Proposals Roll In

Hyperliquid set a new all-time high of $55.04 on Tuesday morning, before drawing back slightly to $53.70 amid a 4% daily and 23.4% weekly surge. It comes as several established teams submit proposals to take over the USDH ticker to create a “Hyperliquid-aligned” stablecoin. Teams wishing to create the “Hyperliquid-first” stablecoin have until Wednesday to submit a proposal via Discord. Validators will begin voting on them at the end of the week. So far, there have been 21 proposals—although some...

by Ryan S. Gladwin · 1 min read

Sep 8, 2025

Coins

Hyperliquid Validators to Decide USDH Ticker in First Governance Test Following Pushback

Hyperliquid, a decentralized exchange and Layer-1 chain, is slated to place the USDH ticker through a validator vote this month, testing the role of onchain governance in shaping its stablecoin strategy. In an update posted Sunday to clarify guidelines, the team behind Hyperliquid said the vote concerns only the ticker and does not grant USDH “any special privileges by nature of its ticker name,” adding that USDH “will be only one of many such stablecoins” for its chain. USDH is the project’s pr...

by Vince Dioquino · 2 min read

Sep 5, 2025

Coins

Hyperliquid Seeks Proposals to Launch USDH Stablecoin—But Some Call Foul Play

Hyperliquid, a popular decentralized exchange with a dedicated layer-1 network, has opened proposals for teams to issue a USDH stablecoin that will be “Hyperliquid-first” and “Hyperliquid-aligned.” However, one established Hyperliquid stablecoin protocol is calling foul play, as it was previously blocked from using the USDH ticker. And the timing of the Foundation's announcement has drawn other questions, as well. The Discord announcement posted on Friday says the USDH ticker should go to a team...

by Ryan S. Gladwin · 4 min read

Aug 27, 2025

Opinion

Morning Minute: Ethereum to $7,500? Standard Chartered Thinks So

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today's top news: Crypto majors rebound, Solana leads +9%; Bitcoin at $111,300 Standard Chartered raises Ethereum price target to $7,500 for EOY HYPE hits ATH on back of XPL short liquidation wave Google Cloud building their own L1 blockchain Myriad crosses $10M in lifetime volume, adds new...

by Tyler Warner · 5 min read

Aug 18, 2025

Markets

HYPE, SUI Lead Altcoin Losses as Ethereum Dips Under $4,300

Ethereum’s slip below $4,300 set off a chain reaction across crypto markets Monday morning, wiping out more than $487 million in long positions and leaving altcoins bleeding. Hyperliquid (HYPE) plummeted 8.7% to $43.38 while Sui (SUI) crashed 7.3% to $3.55, leading a brutal selloff across altcoins. Ethereum (ETH) shed 5.4%, Solana (SOL) tumbled 5.6%, and Cardano (ADA) declined 6.2%, according to CoinGecko data. XRP (XRP) fell 4.5%, Stellar (XLM) dropped 5.4%, and Dogecoin (DOGE) retreated 4.6%...

by Vismaya V · 2 min read