The HYPE token is gearing up for a potential new record high of $50 as Hyperliquid asserts its dominance in the perpetual futures market, boasting an impressive annual trading volume of $1.571 trillion.
HYPE recently reached a new milestone, climbing to $44.86 and exceeding its previous high of $35.51 set in December. The platform has also reported significant financial performance, generating $56 million in revenue for the month, along with a total of $310 million in revenue to date.
Source: CoinGecko
Hyperliquid’s dominance is underscored by its trading volume of $214 billion in June, outpacing the combined volume of all other on-chain perpetual platforms, which totals $140 billion, as reported by data analytics firm Dune.
Source: SeeLaunch on Dune
The decentralized exchange now commands over 70% of the DEX perpetual volume and has captured 10.54% of Binance’s market share, a notable rise from 9.76% in April.
Key metrics highlight that 97% of protocol fee revenues are being reinvested into HYPE buybacks, aligning the incentives of the token with the growth of the platform.
With a total value locked (TVL) of $3.5 billion and a user base of 500,000, Hyperliquid ranks eighth among all blockchains with a total value locked of $1.75 billion, according to DefiLlama.
A surge in institutional adoption is evident as the Nasdaq-listed Lion Group disclosed plans to reserve $600 million, with HYPE serving as its principal treasury asset.
Surge in Trading Volume Fuels Market Leadership
The exceptional growth of Hyperliquid can be attributed to its unique position in the market, delivering centralized exchange-like performance while fully embracing decentralization.
The platform’s annual trading volume of $1.571 trillion signifies an 843% increase from the previous year, which recorded $26.3 billion.
May’s trading figures demonstrated consistent upward momentum, achieving $248 billion in volume—a 51.5% rise from April’s $187.5 billion. Early data for June indicates $214 billion in trading activity, suggesting sustained growth amid overall market fluctuations.
Hyperliquid’s technical prowess is illustrated by its ability to achieve sub-second transaction finality and support for over 100,000 transactions per second, facilitating fully on-chain order book operations that rival the speed of centralized exchanges while enhancing transparency.
The exchange’s expansion into market share against established competitors is particularly noteworthy, as it now holds a 10.54% share of Binance’s perpetual trading volume.
In terms of revenue, Hyperliquid reported $56 million this month alone, increasing its cumulative revenue to $310 million. The strategic decision to reinvest 97% of platform fees back into HYPE buybacks through the Assistance Fund has resulted in $910 million in buybacks over the last six months.
The decentralized exchange ranks sixth in daily volume among all DEXs, processing more than $420 million while capturing 6.84% of global perpetual trading flows in May.
Technical Indicators Point to Continued Upward Trajectory
The daily chart for HYPE reveals a compelling bullish setup, with the token establishing new all-time highs at $44.86 while remaining in a phase referred to as “blue-sky territory.”
The Elliott Wave structure suggests that waves A through D have completed, with the potential emergence of wave E indicating the likelihood of continued upward movement.
The transition of significant resistance at $27.81 into strong support reflects typical “resistance turned support” behavior found in robust trending markets.
Additionally, RSI levels at 58.14 suggest a healthy bullish stance that avoids overbought conditions, allowing space for further appreciation.
Volume analysis indicates robust institutional interest, with 123.15K in volume backing recent breakouts. The significant rise from the $10-$12 accumulation zones suggests explosive momentum that could aim for $60-$80 if current trends persist.
Performing a comparative valuation analysis shows HYPE is positioned below the regression lines when correlating market capitalization with open interest compared to similar protocols.
Hyperliquid is still undervalued from a pure perp dex perspective
and compared to all these other protocols below, it’s the only one with a growing L1 ecosystem
think $HYPE can re-rate much higher from here pic.twitter.com/3KArkAv5gs
— Monet Capital (@CapitalMonet) June 30, 2025
This analytical model indicates that HYPE is undervalued in relation to its operational metrics, with an R-squared value of 0.867 indicating strong credibility in correlation.
Historical comparisons with BNB show the potential for remarkable growth. BNB, for instance, has surged from $30-$35 to peaks exceeding $700.
Currently, HYPE is consolidating around $36.19, demonstrating healthy pullback behavior with successful support tests at $32.08. Projections suggest considerable upside potential, targeting levels far above recent highs of $42-$45.
With solid fundamentals, confirmed technical breakouts, and comparative undervaluation, HYPE is poised for further appreciation.
Initial targets stand at $50-$55, with extended targets reaching $60-$65 if the anticipated momentum is maintained over time.
The post HYPE Token Eyes $50 New ATH as Perps Trading Hits $1.571 Trillion Volume – Is This the Breakout? appeared first on Finance Newso.
