- Bridge deposits into Hyperliquid increased from $500 million to $4 billion since late 2024, indicating higher capital efficiency.
- Hyperliquid has processed $220 billion in 30-day volume, holding over 75% of the decentralized perpetuals market.
- Network upgrades like CoreWriter and HIP-3 are expected to boost composability, speed, and user-led market creation.
Hyperliquid’s native token, HYPE, has climbed to $39.85, posting a 6% gain over the past 24 hours. The price has fluctuated between $35.50 and $41.02 in the past week and currently stands just 12% below its peak of $45.57 recorded on June 16.
Capital inflows into Hyperliquid have grown substantially in recent months. According to analytics firm Purrsec, bridge deposits have risen from approximately $500 million in late 2024 to nearly $4 billion. The data suggests improving capital efficiency and growing confidence among users and traders on the platform.
Dominance in Decentralized Perpetuals Market Grows
DefiLlama reports show that Hyperliquid now accounts for over 75% of all decentralized perpetual trading volume. In the past 30 days alone, the platform processed $220 billion in trading volume, which is over six times more than its nearest competitor. Total cumulative volume has crossed $1.1 trillion, with weekly volumes ranging between $50 billion and $75 billion.
Investor confidence has been further boosted by a recent $50 million reserve commitment from a Nasdaq-listed firm. The announcement has helped reinforce market sentiment and supports expectations of sustained upward momentum for the token.
Network Upgrades Aim to Improve Efficiency and Utility
Shortly, the introduction of CoreWriter will enhance the flow rate of decentralized applications due to its ability to talk directly with HyperCore, the HyperSpeed trading engine’s protocol. The focus of this integration is to enhance the speed of execution, efficiency, and interoperability.
Two major initiatives are moving forward. The HIP-3 proposal seeks to open the market to permissionless listings, allowing any user meeting the staking threshold to launch new perpetual markets. In parallel, HyperEVM’s continued rollout has attracted new developers. Integrations with middleware platforms Gelato and Stargate are currently in progress to further enhance connectivity across decentralized finance protocols.
At this point, HYPE is around the upper Bollinger band, so its future volatility can be high. Its RSI is 56.97, which implies that further increase is possible. The price is still clinging to the previously mentioned support around the 20-day moving average, and increasing volumes and the development of higher lows indicate some prospects of its price moving out of the resistance at $41 to $42.
