Hyperliquid Hits $1 Trillion, But HYPE Token? Not So Much! 😂

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So, here we are. Hyperliquid, this decentralized perpetual exchange, has somehow managed to surpass $1 trillion in total perpetual contract trading volume. Can you believe it? A trillion! And yet, the HYPE token is still struggling like a kid trying to ride a bike for the first time. 🚴‍♂️

Now, this milestone comes amidst a market downturn. I mean, really? Major sectors are losing money left and right, and Hyperliquid is like, “Hey, look at me!” But let’s be honest, a little growth today? It’s like a drop in the ocean. 🌊

Hyperliquid: The King of Perps Market (Or So They Say)

According to DeFiLlama—whoever that is—Hyperliquid’s cumulative trading volume has surged to $1.1 trillion. Wow, what a surprise! Traders are flocking to it like it’s a free buffet. 🍽️

And get this, Dune Analytics reports that weekly volumes are bouncing between $40 billion and $50 billion. That’s right, over 60% market share among perps platforms. Hyperliquid is basically the heavyweight champion of decentralized finance. 🥊

But wait, there’s more! Hyperliquid made headlines when a whale trader opened a 40x leverage BTC short position worth $423 million. A whale hunt? Sounds like a bad reality show. 🐋

Yet, despite all this excitement, the HYPE token is like that one friend who never shows up to the party. It’s been on a consistent downtrend. What’s going on here? 🤔

In the last day, it’s down 3.4%. At this point, it’s trading at $12.9, which is like finding a penny on the ground—great, but not life-changing. And let’s not forget the scrutiny over potential money laundering. Just what we need, right? 🙄

Analyst Predictions: Can HYPE Actually Reach $100?

Despite the doom and gloom, an analyst thinks HYPE could hit $50-$100. Really? That’s optimistic! They cite its status as the leading crypto DEX and its high-throughput Layer 1 blockchain. Sounds fancy! 💼

In a recent post on X (formerly Twitter), they highlighted Hyperliquid’s growth. Daily volume averages $6.7 billion—up from $1.1 billion in October. That’s a jump from 2% to 9% market share relative to Binance in just six months. Impressive, but let’s not throw a parade just yet. 🎉

“If Hyperliquid can maintain just a fraction of its growth rate, we could see it reach ~20% of Binance’s volumes by the end of the year,” the post read. Sure, and pigs might fly! 🐖✈️

According to the analyst, this expansion could boost HYPE’s valuation. But let’s be real, it’s like saying, “If I eat one less donut, I’ll lose weight.” Good luck with that! 🍩

“If Hyperliquid reaches 20% of Binance’s volume, we could see $40-50 HYPE,” they said. Sure, and I could win the lottery! 🎰

They also mentioned factors that could fuel Hyperliquid’s success. Native spot Bitcoin trading, coin margin functionality, and a delta-neutral stablecoin? Sounds like a lot of buzzwords to me! 🐝

And let’s not forget the evolution of Hyperliquid’s Layer 1 blockchain ecosystem. Over 50 projects and $2.3 billion in USDC and BTC deposits. Wow, that’s a lot of zeros! 💰

Finally, the analyst thinks Hyperliquid could become the third most used blockchain after Ethereum and Sol

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2025-03-18 13:21