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Hyperliquid has surged by an impressive 330% since its lowest point in April, signaling strong momentum as it crosses a significant $2 billion milestone in total value locked (TVL). This achievement has positioned the project as a key player in the cryptocurrency landscape, with further gains potentially on the horizon.

Understanding Hyperliquid’s Recent Growth

The price of Hyperliquid’s token, HYPE, was trading at $40.4 on Sunday, June 15, slightly below its all-time high of $43.96. With a current market capitalization of $13 billion and a fully diluted valuation of $40.75 billion, Hyperliquid’s growth trajectory has been remarkable in recent months.

According to recent data, the total value locked (TVL) in Hyperliquid’s layer-1 blockchain has soared to $2.01 billion, marking a 70% increase over the past 30 days. This surge has elevated Hyperliquid to become the 11th largest blockchain in the crypto industry, surpassing notable networks such as Cardano, Hedera Hashgraph, and Near Protocol.

Key Contributors to Hyperliquid’s Ecosystem

The ecosystem behind Hyperliquid has played a pivotal role in its success. Major contributors within its layer-1 network include:

  • Hyperliquid itself
  • Hyperlend
  • Felix
  • Morpho
  • Hyperbeat

Hyperliquid’s Role in the Stablecoin Market

Hyperliquid has also established itself as a major player in the stablecoin sector. The network now holds $3.7 billion in stablecoins, a substantial increase from $2 billion in January of this year. This growth underscores a high level of activity within the network, as stablecoin volume is often a key indicator of blockchain utility and adoption.

Currently, Hyperliquid ranks as the sixth largest player in the stablecoin industry, following Ethereum, Tron, Solana, BNB Chain, and Base. This milestone highlights the platform’s growing influence in the broader cryptocurrency ecosystem.

Dominance in Perpetual Exchange Volume

Hyperliquid’s perpetual exchange is another area where the platform has demonstrated significant dominance. Over the past 24 hours, it processed over $4.43 billion in transactions—exceeding the combined volume of other top-ten platforms. On a monthly basis, Hyperliquid’s trading volume has reached an impressive $242 billion.

Growing Staking Activity

Investor interest in staking HYPE tokens has also surged. The staking market cap has increased by 16% over the past seven days, reaching $17.1 billion. This uptick reflects growing confidence in the platform’s long-term potential and its ability to deliver sustainable value to token holders.

HYPE Price Technical Analysis

The eight-hour price chart for HYPE reveals a strong uptrend over the last few months. After hitting a low of $9.29 in April, the token has steadily climbed to its current level of $40. Technical indicators suggest continued bullish momentum:

  • The token is trading above both the 50-period and 100-period moving averages, signaling upward momentum.
  • It has breached key support at $39.94, the previous high recorded in May.

With these factors in play, the HYPE token appears poised to test its all-time high of $43.95. A successful breakout above this level could pave the way for further gains, potentially targeting the psychological resistance level of $50.

Final Thoughts

Hyperliquid’s rapid ascent across multiple metrics—from price performance to TVL, stablecoin volume, and trading activity—demonstrates its growing prominence in the cryptocurrency market. As it continues to solidify its position, both beginner and intermediate investors should keep a close eye on this evolving project.

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