Decentralized derivatives exchange Hyperliquid has consistently outperformed traditional finance giants in terms of volume and net income.

DefiLlama data estimates Hyperliquid’s annualized net income at $1.24 billion as of Sept. 12, exceeding Nasdaq’s $1.12 billion net income for the entirety of 2024 by 11%.

The comparison positions the DeFi platform ahead of one of the world’s largest stock exchanges in net income, despite operating with just 11 team members.

Additionally, data from ASXN shows Nasdaq employed 9,162 people in 2024, producing a net income per employee ratio of $123,335.52.

Hyperliquid’s 11-person team generates approximately $113 million per employee, establishing the highest net income-to-employee ratio in global financial markets.

Volumes surpass Robinhood

The trading protocol posted $420.3 billion in total trading volume during August, extending its winning streak against Robinhood to four consecutive months.

Robinhood published August trading figures on Sept. 11, revealing $227.5 billion in total volume across all products.

Don’t Get Left Holding the Bag

Join The Crypto Investor Blueprint — 5 days of pro-level strategies to turbocharge your portfolio.

Brought to you by CryptoSlate

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

The breakdown included $199.2 billion from equity trading, $195.5 million from options contracts, $13.7 billion from crypto trading in the Robinhood App, and $14.4 billion from crypto trading on the Bitstamp exchange.

Hyperliquid processed $398 billion in perpetual contracts and $22.3 billion in spot trading during the same period, creating a $170.5 billion volume advantage over the retail trading platform. The August performance marks the platform’s strongest monthly showing since beginning its winning streak against Robinhood.

The volume comparison traces back to May, when Hyperliquid first overtook Robinhood with $256 billion versus $192 billion, according to data shared by Jon Ma from Artemis.

June volumes reached $231 billion for Hyperliquid compared to Robinhood’s $193 billion, followed by July’s $330.8 billion versus $237.8 billion performance. Its July advantage represented its largest monthly gap at 39.1% before August’s results widened the margin further to nearly 85%.

Amid these results, Hyperliquid’s HYPE token registered a new all-time high of $57.30 on Sept. 12, up roughly 760% from its launch price of $6.51 on Nov. 28, 2024.

The platform continues to demonstrate how decentralized exchanges can compete directly with established retail trading platforms while maintaining lean operational structures that generate outsized returns per employee.

Mentioned in this article

Stablecoin issuer Circle appears set to deepen its role in decentralized finance by preparing a native launch of USD Coin (USDC) on Hyperliquid’s Layer 1 chain, HyperEVM.

On Sept. 12, blockchain researcher MLM Blockchain flagged test transactions involving USDC on HyperEVM’s mainnet, suggesting that a native deployment could roll out in the coming weeks.

Adding to speculation, the same wallet connected to Circle recently acquired about $5 million worth of Hyperliquid’s HYPE token.

The purchase reinforced the view that Circle is positioning itself more deeply in the Hyperliquid ecosystem. If the launch goes live, HyperEVM would join 24 other networks that already support USDC, including Ethereum, Solana, and the XRP Ledger.

Circle’s USDC is the second-largest stablecoin in the industry, with a market capitalization of more than $72 billion. Hyperliquid, on the other hand, is the dominant decentralized perpetual exchange, controlling more than 60% of the market.

USDC situation on Hyperliquid

The potential launch follows a public statement from Circle CEO Jeremy Allaire, who wrote that the company intends to be “a major player and contributor” within the Hyperliquid ecosystem.

5 Days to Smarter Crypto Moves

Learn how pros avoid bagholding, spot insider front-runs, and capture alpha — before it’s too late.

Brought to you by CryptoSlate

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

According to him:

“We are coming to the HYPE ecosystem in a big way. We intend to be a major player and contributor to the ecosystem. Happy to see others purchase new USD tickers and compete Hyper fast native USDC with deep and nearly instant cross chain interoperability will be well received.”

Yet Circle’s push comes as Hyperliquid prepares to introduce its native stablecoin, USDH. That project has drawn attention from major players such as Native Market, Paxos, OpenEden, and Agora, signaling a real challenge to Circle’s position.

Over the past year, Hyperliquid has relied heavily on Circle’s stablecoin to power its markets, with around $5.773 billion in USDC supply on the platform. That concentration means Hyperliquid accounts for roughly 8% of all USDC in circulation, making it one of Circle’s most dominant chains, according to DeFiLlama data.

So, should liquidity migrate to USDH, Circle could lose as much as $200 million in annual revenue, which might impact its business.

Mentioned in this article

Hyperliquid is slowly building a name within the decentralized finance (DeFi) sector. In August, the platform recorded nearly $400 billion in perpetual trading volume and more than $106 million in revenue, according to DefiLlama.

Related Reading

This milestone not only cements Hyperliquid’s dominance in the decentralized perpetuals market, where it now controls around 70% of market share, but also signals growing adoption by both retail and institutional investors.

A key driver of this success is its proprietary HyperEVM blockchain, designed for speed, scalability, and zero gas fees. These features replicate the performance of centralized exchanges while maintaining DeFi’s transparency and user custody, making Hyperliquid an appealing alternative to platforms like Binance or Solana-based DEXs.

Whale Activity and Market Sentiment

Despite its strong fundamentals, HYPE, the platform’s native token, is facing volatility. Currently trading around $44, HYPE has retraced from the $51 mark but remains on track for a possible breakout. Analysts point to resistance at $48.73, with upside targets at $52, $55, and even $73 if bullish momentum persists.

HYPE's price trends to the upside on the daily chart. Source: HYPEUSD on Tradingview

Whale activity has added intrigue to the token’s outlook. Recently, a whale deposited over $3 million USDC into Hyperliquid and opened a leveraged short against HYPE, sparking debate about near-term price action.

While shorts suggest caution, derivatives data shows rising open interest and a slight long bias, hinting at sustained optimism among traders.

Can Hyperliquid Become the Next “Killer App”?

BitMEX co-founder Arthur Hayes has gone as far as calling Hyperliquid a “decentralized Binance,” projecting the HYPE token could rise over 100x if adoption keeps pace. The launch of a 21Shares Hyperliquid ETP on the SIX Swiss Exchange also signals mounting institutional confidence.

Still, challenges remain. Hyperliquid has faced brief outages and accusations of whale manipulation in newly launched futures markets. To counter this, the team has implemented stricter safeguards, including tighter price caps and external data integrations. These moves aim to balance rapid growth with market integrity.

Related Reading

With trading volumes surging, institutional adoption growing, and technical indicators hinting at a potential HYPE breakout toward $55, Hyperliquid stands at a defining moment. If it maintains momentum while addressing risks, it could cement itself as crypto’s next true “killer app.”

Cover image from ChatGPT, HYPEUSD chart on Tradingview

Treasury Secretary Scott Bessent’s endorsement of dollar-pegged stablecoins creates a pathway for up to $34 trillion to flow into decentralized finance protocols such as Ethena, Ether.fi, and Hyperliquid.

Arthur Hayes reported in his Aug. 27 blog post that Bessent aims to redirect capital from the $13 trillion Eurodollar system and $21 trillion in Global South retail deposits into stablecoin infrastructure that purchases Treasury bills.

Yet, he said that this strategy addresses two problems: the Treasury’s inability to track Eurodollar flows and the need for price-insensitive buyers of government debt.

The plan leverages US social media platforms as distribution channels for stablecoin adoption. Meta’s WhatsApp could deploy crypto wallets to billions of users worldwide, enabling seamless transactions with stablecoins while bypassing local banking systems.

DeFi protocols positioned for “secular rise”

Stablecoin issuers must invest deposits in Treasury bills to maintain dollar parity, creating guaranteed demand for government debt.

Tether earns a net interest margin of 4.25% to 4.5% by holding T-bills, while paying no interest on USDT tokens. This business model scales directly with deposit growth, providing Bessent with price-insensitive buyers for short-term government securities.

Bessent can weaponize dollar dominance to force compliance with the adoption of stablecoins.

One example mentioned by Hayes is threatening to exclude foreign banks from Federal Reserve swap lines during financial crises. This move would push Eurodollar deposits toward US-regulated stablecoin platforms.

In the case, Hayes projects a total stablecoin circulation of $10 trillion by 2028. In this scenario, he argued that three protocols are poised for a “secular rise.”

The first is Ethena, which operates the synthetic dollar system USDe to generate yields by shorting crypto derivatives against long positions. As of press time, Ethena had $12.4 billion in total value locked (TVL) in the protocol.

Road to 25% market share

The analysis forecasts that USDe could achieve a 25% market share of total stablecoins, potentially reaching a supply of $2.5 trillion.

Hayes also mentioned Ether.fi. The protocol offers stablecoin spending through Visa-powered debit cards, allowing users to spend their crypto anywhere Visa is accepted.

The platform earns revenue at a ratio comparable to JPMorgan’s 1.78% fee-to-deposit ratio and can also capture decent value in the expansion of the US dollar-pegged stablecoin market.

The third protocol mentioned in the post is Hyperliquid. The protocol dominates decentralized perpetual trading, with a 63% market share.

In addition, Hayes cited that Hyperliquid processes daily volume representing 26.4% of the total stablecoin supply in trading activity.

Considering his $10 trillion prediction, the way these three protocols interact with stablecoins could heavily benefit them and their native tokens.

Mentioned in this article

Former kickboxing champion and controversial influencer Andrew Tate is among the latest celebrities to dive into Kanye West’s newly launched YZY token, but his bets are already deep in the red.

A wallet address linked to Tate opened a 3x leveraged short position on the recently launched, West-linked YZY token at $0.85 and was sitting on a $16,000 loss on the position.

Tate “doesn’t seem to be good at perps trading,” as his cumulative losses are nearing $700,000 on this single Hyperliquid account, wrote blockchain analytics platform Lookonchain in a Friday X post. “So far, he’s made 80 trades on #Hyperliquid — only 29 were profitable (win rate: 36.25%) — with total losses of $699K.”

The YZY token was launched on Solana on Thursday by the rapper, with the top 13 wallets profiting a total of $24.5 million as they dumped the token, which spiked 1,400% within the first hour before dropping over 74% since.

Related: Ether trader nearly wiped out after epic run from $125K to $43M

With growing celebrity interest in cryptocurrencies, more influencers are realizing losses, showing that not all financial advice or investment endorsements should be treated equally. 

The losing trade comes more than a year after Tate was hit by insider trading allegations related to his memecoin, the Daddy Tate (DADDY) token, which saw insiders scoop up 30% of the supply at launch before Tate started promoting the token on X, Cointelegraph reported at the time. 

Related: $1.6B Bitcoin whale shifts another $113M BTC into $240M Ether long

Most Andrew Tate-endorsed memecoins crashed by 99%

Tate joined waves of celebrities who jumped on the Solana memecoin bandwagon on June 7, 2024, endorsing more than 10 tokens known for having no intrinsic value.

Most of the tokens lost around 99% of their value shortly after Tate’s endorsement, with multiple tokens allegedly having up to 30% insider supply allocation, Bubblemaps warned in an X post in October 2024.

These included Roost (ROOST), the Germany Token (GER), Fuck Tristan (FTRISTAN), TopG (TOPG), RNT (RNT) and Daddy Tate (DADDY).

Over 30 celebrity-endorsed tokens launched on Solana in June 2024 and have seen prices fall by no less than 73.23%.

Other celebrities who promoted Solana-based meme tokens include 50 Cent, Caitlyn Jenner, Iggy Azalea and soccer legend Ronaldinho Gaúcho.

UFC contender Khamzat Chimaev-linked Smash (SMASH) token was also hit by insider allegations after it was revealed that up to 78% of the token’s supply was bought by team and developer-related wallets, Cointelegraph reported in July 2024.

Three days after the token launch, Chimaev’s manager, Majdi Shammas, claimed that the martial artist “wasn’t involved” with the SMASH memecoin and “[knows] just as little as you do,” alleging that he promoted the coin without the fighter’s input.

Magazine: Altcoin season 2025 is almost here… but the rules have changed

]]> https://earlybirdsinvest.com/andrew-tate-shorts-kanye-wests-yzy-racks-up-700k-losses-on-hyperliquid/feed/ 0 54537 https://earlybirdsinvest.com/traders-repaid-2-million-after-hyperliquid-api-goes-down/ https://earlybirdsinvest.com/traders-repaid-2-million-after-hyperliquid-api-goes-down/#respond Mon, 04 Aug 2025 16:23:24 +0000 https://earlybirdsinvest.com/traders-repaid-2-million-after-hyperliquid-api-goes-down/

Hyperliquid, a decentralized trading platform, has refunded almost $2 million to users who were affected by a short service interruption.

On July 29, a sudden increase in platform traffic caused its interface to stop processing orders between 02:10 PM and 02:47 PM UTC.

During this time, trades could not be submitted properly through the API, even though transactions still reached the blockchain and were later confirmed.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is Odysee & LBRY? Is Decentralized YouTube Possible? (ANIMATED)

Some traders initially feared the issue might have been caused by a security breach. However, Hyperliquid later explained that the problem was due to unusually high traffic levels following a record $14.7 billion in open interest just days earlier.

According to the platform, while transactions reached the mempool and were added to blocks, the system responded with error messages that made it seem like orders had failed.

Hyperliquid issued refunds to users who were unable to trade during the downtime. On-chain data from Hypurrscan shows that $1.99 million in USDC
USDC


$0.9966

was distributed on August 4. The refunds were organized into three categories based on the amount each user was owed.

Users with losses under $10,000 received their full refunds right away. Those who were due more than that amount received $9,999 upfront. To receive the remaining balance, these users must complete a Know Your Customer (KYC) process through Discord before August 18.

Meanwhile, Gate

$1.81B

recently listed a $600 million Pump.fun token sale scheduled for July 12, then it was removed. What happened? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

---

Decentralized exchanges (DEX) reached $1 trillion in monthly trading volume for the first time in July.

According to DefiLlama data, spot trading volume grew 29.4% and reached nearly $514 billion last month, bested only by January’s all-time high of $568 billion.

At the same time, perpetual futures’ monthly volume increased 33.6% to register a new all-time high of $487 billion, with Hyperliquid registering a new record in monthly perpetual trading.

BNB dominance on spot

For the third consecutive month, BNB Chain dominated spot trading volumes. The chain’s volumes grew 15.3% and totaled $196.3 billion in July, representing 38.2% the monthly total.

PancakeSwap was the main driver behind growth, which amounted to $188.2 billion in spot trading volume. The BNB-native exchange volume is larger than the other four top DEXs combined, which is approximately $168 billion.

Uniswap registered the second-largest spot volume among DEXs in July, with $96.4 billion. Meanwhile, Solana-based decentralized exchanges wrapped up the top five.

Raydium, Meteora, and Orca registered $31.8 billion, $20 billion, and $19.5 billion, respectively. The five largest blockchains by volume remained the same between June and July, with just one slight change.

Runner-ups

Ethereum registered the second-largest monthly volume at nearly $86 billion, growing 49.3% from June, while Solana slid from second to third place in monthly spot trading volume despite growing 36.6% to reach $85.1 billion. 

Base and Arbitrum maintained their posts from June as the fourth- and fifth-largest blockchains by spot trading volume, respectively. 

Base’s volume increased by 46.8% and reached $41.6 billion, the first time the layer-2 blockchain surpassed $40 billion since January. At the same time, Arbitrum was the only chain in the top five with one-digit growth, reaching $19.2 billion in volume after jumping 7.4%.

Hyperliquid’s perpetuals reign

Hyperliquid became the first blockchain to surpass the $300 billion threshold in perpetual volume, reaching $323.4 billion in July after a 48.3% growth.

The volume surpasses Ethereum’s $48.7 billion by a large margin, which held the spot of the second-largest chain in perpetual trading volume last month. Despite the difference, Ethereum has grown by almost 56% since June.

The difference is even larger when decentralized exchanges for perpetual’s volumes are considered. Hyperliquid reached $313.4 billion, dominating 64.3% of the market and posting 16 times Jupiter’s volume of $19.4 billion.

Solana, BNB Chain, and Arbitrum wrap up the top five in perpetuals with $37.2 billion, $21.6 billion, and $19 billion in volumes, respectively.

Mentioned in this article

Web 3 Journalist

Tim Hakki

Web 3 Journalist

Tim Hakki

About Author

A journalist and copywriter with a decade’s experience across music, video games, finance and tech.

Share

Last updated: 

July 18, 2025

China’s leading AI platform DeepSeek predicts that prominent altcoins will achieve unprecedented price milestones in the latter half of 2025, driven by Bitcoin’s exceptional rally.

Earlier this week, Bitcoin set a new historical benchmark, reaching an all-time high of $122,838. Market analysts believe this bullish momentum could persist, further accelerating cryptocurrency adoption on a global scale.

Bitcoin’s impressive ascent has sparked renewed enthusiasm among investors, with speculation mounting that the ongoing rally could eclipse the legendary bull run of 2021, propelling top altcoins to fresh valuation peaks.

Outlined below are the digital currencies that China’s cutting-edge DeepSeek AI predicts to deliver strong gains in the coming months.

XRP (Ripple): China’s DeepSeek AI Predicts Massive Upside for the Cross-Border Payments Giant

DeepSeek’s latest forecasts suggest Ripple’s XRP could soar to $5 by the end of 2025—a remarkable leap from its current value around $3.45, however this is likely too conservative, given that XRP set a new ATH earlier today of $3.65, its first high watermark since it hit $3.40 back in 2018.

DeepSeek’s projection is also a quarter of that of its biggest rival, ChatGPT, which suggests heights of $20.

XRP has solidified its reputation as a fast, affordable, and regulator-friendly cross-border transaction solution. In 2024, the United Nations Capital Development Fund (UNCDF) acknowledged XRP’s capability to facilitate rapid global payments without traditional intermediaries.

A landmark court ruling in 2023 declared that retail sales of XRP were not securities transactions, effectively undermining the SEC’s long-standing stance against Ripple and bolstering confidence across the altcoin market.

In March, Ripple CEO Brad Garlinghouse officially announced the SEC dropped the four-year case, removing regulatory uncertainty for XRP and setting a precedent for all other altcoins.

However, achieving the ambitious $20 target will require a major catalyst, such as regulatory reform in the U.S., where the crypto industry continues to advocate for comprehensive legal frameworks.

XRP has been on a strong upward trajectory, climbing 7% over the past 24 hours and 55% in the last fortnight, driven largely by substantial whale accumulation.

These large-scale purchases have pushed its relative strength index (RSI) to a heated 89, suggesting potential profit-taking ahead that will depreciate its price. However, the previous $3 resistance level is likely to switch to a strong psychological support level, priming XRP to run up to $5 by mid-fall and possibly even $20 by year end. .

Over the past year, XRP has delivered an impressive 499% gain, far exceeding Bitcoin’s 83% rise, and remains the best-performing multibillion-cap crypto asset this year.

Dogecoin ($DOGE): Founding Meme Coin Set for Major Breakout

Dogecoin ($DOGE), originally launched as a lighthearted parody in 2013, now commands a robust market capitalisation of over $36.6 billion, driven by a devoted community and increasing utility.

Typically mirroring Bitcoin’s price trends, DOGE blends meme-fuelled volatility with long-term resilience.

Trading currently at $0.2438, Dogecoin has risen by 14% in the past 24 hours and 19% over the past week. With an RSI of 81 it’s likely to follow XRP into a slight dip which will ultimately help to consolidate its gains while providing profits for its supporters.

Chart analysis reveals a distinct falling wedge pattern from November through April, suggesting a likely breakout in the near term.

DeepSeek AI predicts DOGE reaching as high as $1 during an extended bull phase, which would equate to a potential 4X gain from its current valuation.

In terms of adoption, Dogecoin continues to attract high-profile support. Tesla accepts DOGE payments for select merchandise, while platforms like PayPal and Revolut have integrated DOGE for transactions, enhancing its practical use case.

China’s DeepSeek AI Predicts The $HYPE Token Powering the Eponymous Crypto Millionaire-Maker DEX Will Go Higher Yet

Since launching late last year, Hyperliquid and its native $HYPE token have emerged as standout players in the decentralised exchange (DEX) arena. It currently trades at $45 but DeepSeek expects it to hit $100 by the New Year.

Operating on its own proprietary Layer 1 blockchain, Hyperliquid ensures full user custody over funds—an increasingly critical factor following the collapse of major centralised exchanges like FTX.

Offering competitive fees, lightning-fast trade execution, and advanced features like perpetual derivatives, Hyperliquid combines the best of decentralised and centralised exchange platforms.

Technical analysis, since its debut, shows robust bullish trends. Two bullish flag patterns formed between late winter and early spring, typically signalling sharp upward price moves.

Indeed, between early April and May 26, $HYPE quadrupled in value, jumping from around $10 to $40. This rally was reinforced by multiple cup and handle formations, suggesting sustained interest from institutional-sized traders.

Highlighting its potential, one Hyperliquid user recently netted $7 million from a $200 million long position on BTC and ETH using 50x leverage, demonstrating the platform’s capacity to deliver transformational profits.

Bitcoin Hyper ($HYPER): The First Meme-Driven Layer 2 for Bitcoin Gathers Steam

Bitcoin Hyper ($HYPER) is emerging as a novel force in the altcoin space, combining viral meme culture with innovative Layer 2 technology built natively on Bitcoin. Designed to boost transaction speed and scalability while infusing the ecosystem with playful energy, it is pioneering new use cases for Bitcoin-based applications.

The project has already raised over around $3.4 million during its presale, with many predicting a potential 10X launch surge upon listing.

Leveraging the Solana Virtual Machine (SVM), Bitcoin Hyper aims to resolve Bitcoin’s well-known limitations of slow transaction speeds and high fees, enabling high-performance smart contracts.

Its Canonical Bridge allows for instant BTC transfers by routing transactions through its proprietary Layer 2, while its ultra-low gas fees support diverse applications ranging from decentralised apps (dApps) to meme coins and payment solutions. The project has also undergone a smart contract audit by Coinsult, which reported no vulnerabilities, bolstering investor confidence.

The $HYPER token is central to its ecosystem, enabling staking rewards, transaction fee payments, and access to exclusive platform features.

Presale participants are offered exceptionally high yields, with APYs reaching up to 269%, alongside governance privileges, providing attractive incentives for early backers.

Visit the official presale website or follow Bitcoin Hyper on X and Telegram for more information.

Hyperliquid’s native token, HYPE, is approaching its all-time high, fueled by the decentralized derivatives exchange capturing over 80% of the on-chain perpetual futures market.

The platform has seen its average daily trading volumes increase to a consistent range of $2-6 billion, a surge that coincides with a new partnership with Phantom wallet and recent network upgrades. Over the past 24 hours, it has surged to $8.4 billion, breaking $1.88 trillion in lifetime volume.

However, trading volume still sits well below its all-time high of $18 billion earlier in the year, though averages have remained strong since the 2024 breakout.

The decentralized exchange now commands the vast majority of the perpetuals market, with its total value locked (TVL) exceeding $480 million, per data from DefiLlama. This growth places Hyperliquid ahead of its competitors in the decentralized finance landscape.

The platform’s ascent is built on its proprietary layer-1 blockchain, which utilizes an on-chain order book, which distinguishes it from many other decentralized exchanges that rely on automated market maker models. The infrastructure is designed to provide high-throughput and low-latency trading, mirroring the performance of centralized exchanges.

Fueling investor optimism is the platform’s “real yield” model, where revenue from trading fees is distributed to HYPE token stakers. Hyperliquid charges a 0.025% fee for takers and 0.002% for makers, with the collected fees used to buy back and burn HYPE tokens, creating deflationary pressure.

The mechanism directly ties the token’s value to the platform’s trading volume. The Hyperliquidity Provider (HLP) vaults are an integral part of this ecosystem, allowing users to provide liquidity and earn a share of the platform’s revenue.

Hyperliquid’s recent partnership with Phantom, the popular Solana-based wallet with over 15 million users, is expected to onboard a substantial number of new traders to the Hyperliquid platform, further boosting its trading volume and liquidity.

The exchange’s co-founder, Jeff Yan, has emphasized a user-centric approach. In an interview with ChainCatcher, Yan stated, “We wanted to build something that people actually wanted to use, not just for farming airdrops.” This philosophy appears to be resonating within the DeFi community, with the platform’s user base growing to over 500,000 and over $88 billion in total deposits.

The recent “CoreWriter” upgrade, which launched last week, is also underpinning bullish sentiment. It allows HyperEVM decentralized applications to interact directly with HyperCore’s perpetual exchange. HyperCore went live in March and enabled seamless asset transfers and smart contract development within the Hyperliquid ecosystem, combining centralized exchange performance with decentralized finance functionality.

Despite its rapid growth, Hyperliquid has faced challenges. In March 2025, the platform experienced a security breach. The incident, which involved an exploit related to the HLP vaults, resulted in nearly $12 million in cumulative losses for liquidity providers.

Hyperliquid’s HYPE token is currently trading at approximately $41.60, reflecting a nearly 7% increase in the last 24 hours as the platform’s fundamental strengths and strategic initiatives continue to attract market attention.

Its market dominance, sustainable yield model, and expanding user base through key partnerships position the exchange as a formidable player in the on-chain derivatives sector as it goes from strength to strength.

Crypto price optimism is largely unbroken, even as news of war in the Middle East is tumbling many assets right now. The general feeling even among lawmakers is that crypto is here to stay.

Partially fuelling that optimism is Bitcoin’s unprecedented climb to a peak of $111,814 just last month. At its current price of $104,386, the industry’s “digital gold” is just 6.5% down from its former ATH.

This bullish wave has extended to the best meme coins like Pepe, Trump, SPX6900, and FartCoin, each of which has registered notable gains over the past six months.

With this backdrop, let’s dive into several promising altcoins—including two of the most prominent meme tokens—that many experts see as top contenders for substantial gains during this ongoing market rally.

Ripple (XRP): Dominating Global Crypto Payments, Price Soared 384% Last Year

Ripple’s XRP remains a pivotal bridge between the traditional financial world and blockchain-based systems, particularly in the field of international payments.

Celebrated for its efficiency and low transaction costs, XRP has attracted the attention of organizations, such as the United Nations, as a compliant platform with the potential to facilitate a new paradigm through blockchain-based global financial transactions.

Since late 2020, XRP has been embroiled in a lengthy legal confrontation with U.S. regulators. The case became emblematic of the crypto industry’s broader pushback against the SEC’s regulation-through-enforcement strategy under the Biden administration.

A major shift occurred in 2023 when a federal court ruled that XRP sales to retail investors did not fall under securities laws, undermining the SEC’s core argument. The matter was formally closed in early 2025 when the agency dropped the case.

Over the past 12 months, XRP has significantly outperformed Bitcoin, climbing 341% compared to BTC’s 55% rise.

Chart patterns indicate a bullish flag formation stretching from late 2023 through April 2024—a pattern often associated with upcoming price rallies.

Should the upward momentum continue, XRP is likely to push towards the $3.50 threshold this summer, which would eclipse its previous high of $3.40 set back in January 2018.

With a relative strength index (RSI) of 42 and falling, XRP could soon be oversold, which will indicate to traders that the asset is trading under a discount. Typically, this can prompt a new wave of accumulation.

Solana ($SOL): A DeFi Powerhouse on the Institutional Radar

Solana ($SOL) continues to shine in the decentralized finance (DeFi) arena, praised for its cutting-edge smart contract infrastructure, lightning-fast transaction speeds, and minimal fees. With a current market capitalization of $75.8 billion, Solana is increasingly becoming a serious Ethereum competitor.

Speculation is mounting that U.S. regulators could soon greenlight spot exchange-traded funds (ETFs) for Solana, echoing previous approvals for Bitcoin and Ethereum. If confirmed, this would likely spark a surge in institutional interest.

Former President Donald Trump has even proposed incorporating Solana into a U.S. Strategic Crypto Reserve, albeit “hold-only,” meaning authorities can only hold $SOL confiscated through law enforcement actions, not buy it.

After sliding from a January peak above $250 to around $100 in February, Solana has staged a recovery. It recently broke through a descending trend channel and now trades at $145. With an RSI hovering around 38 and trending downward, Solana is likely to trade at a discount over the weekend, making it the perfect time to buy in for investors who want to support the network.

Market watchers now forecast that SOL could break resistance levels at $200 and $250, possibly pushing toward the $300 milestone by the end of the summer.

Hyperliquid: The DEX Powering a New Generation of Crypto Millionaires

Launched at the end of last year, Hyperliquid and its native $HYPE token have quickly gained traction as a standout project in the decentralized exchange (DEX) space.

Built on its own proprietary Layer 1 blockchain, Hyperliquid boasts transparency and high throughput. As a true DEX, users retain full control of their funds—a feature that’s grown more important following the collapse of centralized platforms like FTX.

Offering low fees, rapid trade execution, and advanced tools such as perpetual derivatives, Hyperliquid effectively merges the best aspects of both DEXs and centralized exchanges (CEXs).

Technical analysis of HYPE’s chart since its debut shows strong bullish indicators. In late winter and early spring, two bullish flag formations emerged—a sign often preceding sharp price increases.

Indeed, from early April to May 26, HYPE’s price quadrupled, jumping from approximately $10 to $40. The surge has been accompanied by multiple cup and handle formations, signaling consistent large-scale investor activity.

Notably, one Hyperliquid trader recently pocketed $7 million from a $200 million long position on BTC and ETH, using 50x leverage, suggesting the platform is already capable of life-changing returns.

SUBBD ($SUBBD): A Fixed Price Crypto Presale Blending AI, Blockchain, and the Creator Economy

The above coins are great, solid choices for any crypto investor, but for those willing to venture off the beaten track in search of bigger potential returns, presales are a way to snap up the hottest new cryptos before they list on major exchanges.

A particularly noteworthy entrant is SUBBD ($SUBBD), a platform designed to overhaul the $85 billion creator economy by leveraging blockchain technology and artificial intelligence.

SUBBD empowers content creators by minimizing platform fees and facilitating direct interaction with fans—cutting out traditional intermediaries and high commission structures.

The ecosystem seeks to foster an equitable digital space where creators can thrive. It has already secured over $647,500 in initial capital, and its crypto token $SUBBD is currently available for a fixed price of $0.05565 in the presale phase.

Early backers gain access to a premium, members-only platform offering exclusive features, tools, and early releases. Moreover, SUBBD offers a compelling 20% annual fixed staking reward, making it particularly attractive for long-term holders.

Follow SUBBD on X or Telegram, or visit the SUBBD website for more information.