What to know:
- Hyperliquid (HYPE) is capturing a larger share of the crypto derivatives market while attracting growing institutional interest.
- Traders, investors, and institutions are looking for exposure to high-growth blockchain trading platforms.
- Rising revenue, expanding user activity, and technical indicators point to continued market attention.
Hyperliquid has become quite popular once again. This is according to Multicoin Capital, a venture capital firm, which stated that its token, HYPE, is currently one of the biggest holdings in its liquid fund portfolio.
According to General Partner and Co-Head of Venture Spencer Applebaum, the company has steadily increased its position since February, along with publishing a detailed valuation report on the blockchain.
The network, an L1 blockchain that had a decentralized perpetual futures exchange, generated approximately $873 million worth of income in 2025, while trading volume accounted for almost $2.9 trillion.
Source: X
Hyperliquid’s number of users increased from 301,000 to 923,000; furthermore, the company reported open interest of about $6 billion.
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Market Share Expands Beyond Decentralized Trading
According to the Twitter thread, the network is becoming more robust relative to centralized exchanges. The monthly volume of perpetual futures trading is around 17% of Binance’s volume, whereas just two years ago it was nearly negligible. Open interest stands at around 21% of Binance’s.
Source: X
In comparison to the greater centralized exchange market, Hyperliquid now holds the top positions in terms of volume and open interest.
According to Applebaum, potential improvements, clear regulations, profits generated by Coinbase and USDC, and ETFs are the key growth factors. Multicoin predicts that HYPE may be worth approximately $319 per share in 2028 if the annual profit is $8 billion.
The CEO of Bitwise, Hunter Horsley, also talked about the bright future of Hyperliquid, mentioning that today investors pay attention not to market caps but to the fundamentals of any particular venture.
Horsley said:
“The crypto space is accustomed to projects not having strong traditional metrics (users, revenue/fees accruing to token holders, etc). So, everyone’s instinct is to size up how big something can be based on relative market cap to bigger things. eg if ETH is X, then this other coin could be Y% of that.”
HYPE Technical Chart Points to Key Resistance
According to woods.ai, the short-term setup for HYPE is still good despite the volatility seen recently. On the HYPE/USDT one-hour chart, it can be seen that buying interest was seen to defend the price at $61.80-$62.00 before moving prices above $64.
Resistance at $67 gave way to buying pressure. A falling wedge was seen between June 24 to 25 and later started moving upwards, indicating a potential bullish breakout pattern.
Source: X
The HYPE price is at $64.08 and has resistance at $64.80-$66. Any move above these levels may see an increase to the high of $67. However, any move below $61.80 can take it down towards $60.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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