Decentralized Permanent Exchange (DEX) High Lipids (HYPE) have reached a significant milestone of over $1 trillion in total contract (PERPS) trading volume.
This achievement comes despite wider market slump, where key sectors have announced losses. Although it has grown slightly today, it remains minimal to highlight market challenges.
High lipids dominate the Perps market
According to data from Defillama, cumulative trading volume for high lipid Perps has skyrocketed to $1.1 trillion. This rise in activity underscores the growing appeal among traders.
Additionally, weekly volumes ranged from $40 billion to $50 billion, as reported in Dune Analytics. In fact, the platform is currently leading more than 60% of the market share among PERPS platforms, cementing its position as a powerhouse in Decentralized Financial Finance (DEFI).
High lipid market share. Source: Dune
In addition to market control, Hyperliquid made the headline that it is the centre of major development. As reported by Beincrypto, the platform took extensive attention after whale traders opened a 40x leveraged BTC short position worth $423 million, causing a “whale hunt.”
Nevertheless, development was not very useful due to the platform’s native token, hype. Instead, it performs poorly and maintains a consistent decline.
High lipid (hype) price performance. Source: Beincrypto
On past days, it was depreciated by 3.4%. At the press conference, it traded at $12.9, a low that has not been seen since December 2024. Additionally, the platform faces an increase in scrutiny following concerns about potential money laundering.
Analyst Predictions: Will the Hype reach $100?
Despite these struggles, analysts predicted that the hype could reach between $50 and $100, citing the major Crypto Dex and its position as a high-throughput tier 1 blockchain.
In his latest X (formerly Twitter), he highlighted Hyperliquid’s impressive growth. The platform averages $6.7 billion daily, up significantly from $1.1 billion in October. This surge has led to an increase in market share compared to Binance, jumping from 2% to 9% in just six months.
“We found that if high lipids can maintain a small portion of their growth rate, we’ll reach around 20% of Binance’s volume by the end of the year,” the post read.
High lipid growth compared to binance. Source: X/Duncan
According to analysts, the expansion could significantly increase the valuation of hype tokens.
“If Hyperliquid can reach 20% of Binance’s volume, I think we can easily see the hype of $40-50 with increased revenue and a small number of expansions,” he said.
He also highlighted several factors that could promote the continued success of Hyperliquid. The addition of Native Spot Bitcoin (BTC) trading, coin margin features and the possibility of launching delta-neutral stable coins are considered the major catalysts for future growth.
Another important development is the evolution of Hyperliquid’s layer 1 blockchain ecosystem. The platform attracts over 50 projects and holds over $2.3 billion in USDC and BTC deposits.
Analysts added that in the coming years there is a strong possibility to establish themselves as the third most used blockchain, with high lipids following Ethereum (ETH) and Solana (SOL).
“ETH and SOL are worth $23 billion and $75 billion respectively, but that adds another $10-50 to the Perps/Spot/Stablecoin product + $100 hype, even with Hyperliquid’s potential L1 rating.
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