Is HYPE the Next 100x Token? New ATH Suggests Yes

• HYPE token hit a new all-time high of $50.99 with a 9.9% daily surge, and trading volume reached $3.52 billion. 

• Whale investors bought $18.23 million worth of tokens while derivatives open interest increased 15.7% to $2.29 billion. 

• The platform’s Total Value Locked grew from $311 million to $2.6 billion since April, and BitMEX co-founder Arthur Hayes predicts 126x potential upside.

Hyperliquid’s native token HYPE reached a new all-time high of $50.99 on Wednesday, marking a 9.9% surge over the past 24 hours. The price rally coincides with unprecedented trading activity on the decentralized exchange platform and significant whale accumulation.

Market data reveals HYPE experienced a remarkable 53% increase in spot trading volume, totaling $3.52 billion. The Hyperliquid platform itself accounted for $1.27 billion of this volume. Major exchanges Binance, Bybit, MEXC, and OKX recorded substantial trading activity with volumes of $760 million, $512 million, $268 million, and $254 million, respectively.

Derivatives Market Shows Strong Momentum

The derivatives market contributed significantly to HYPE’s price surge. Open Interest climbed 15.7% to approximately $2.29 billion, with most positions concentrated on the Hyperliquid platform. Bybit and Binance recorded $292 million and $167 million in Open Interest, respectively.

Whale activity has intensified notably. During the trading session, two large investors purchased 358,279 HYPE tokens worth $18.23 million. Market sentiment analysis shows 52.9% of Hyperliquid traders maintain long positions while 47.1% bet on potential price corrections.

Platform Fundamentals Drive Growth

Hyperliquid’s ecosystem continues expanding rapidly. The platform’s spot volume exceeded $3.4 billion earlier this week, driven by increased Bitcoin and Ethereum deposits through the Unit platform. Unit is a decentralized asset tokenization layer built exclusively on Hyperliquid’s infrastructure.

The decentralized exchange’s market position has attracted attention from industry veterans. BitMEX co-founder Arthur Hayes projects a potential 126x price increase for HYPE tokens. His analysis assumes global stablecoin supply will reach $10 trillion by 2028, with Hyperliquid capturing 26.4% of associated trading volume.

Stablecoin activity on the Hyperliquid chain reflects this growth trajectory. Market capitalization surged from $2 billion in April to approximately $5.5 billion.

Institutional support strengthened recently when BitGo announced custody services for HYPE tokens. The custody provider now supports HyperEVM, an Ethereum-compatible smart contract layer within the Hyperliquid ecosystem. This development enables institutional clients to store assets on HyperEVM networks securely.

DeFiLlama data shows Hyperliquid’s Total Value Locked increased exponentially since April. TVL grew from $311 million to approximately $2.6 billion, representing substantial capital inflow into the protocol.

The platform’s transparency and deep liquidity pools continue attracting organic user adoption. These fundamentals support sustained trading activity and contribute to HYPE’s price momentum.