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- Hyperliquid (HYPE) has made an impressive surge of 12% in the last 24 hours to trade at $41 following the broad market rally.
- BitMex CEO is reported to have predicted a bullish run for HYPE as buying interest reaches an impressive height.
The native token of Decentralised Exchange Hyperliquid, HYPE, has ascended to become one of the trending assets on CoinMarketCap after recording a massive surge of 12% in the last 24 hours and 9% in the last seven days to trade at $41. Currently, the asset is the 11th largest crypto with a market cap of $13.5 billion.
On the monthly chart, HYPE has recorded an impressive surge of 65%, while “printing” gains of 204% on the 90-day chart. Fascinatingly, this current move is strongly supported by the 24-hour trading volume which has surged by 152% to reach $435 million. On the previous day, HYPE’s trading volume was around $247 million as stated in our recent news coverage.
Meanwhile, HYPE’s recent move was rightly predicted by the CEO of BitMex Arthur Hayes. According to reports, he predicted that the asset could easily breach the $40 level to enter the resistance range of $42.5 to $46.5. At the time of his statement, HYPE was hovering around the $39 level. However, there is an overheating as the asset enters the overbought territory of the Relative Strength Index (RSI) chart.
HYPE’s ongoing move is reported to have been influenced by the rising interest in the broad market. As highlighted in our earlier discussion, Bitcoin led this charge by surging to $110k before staging a marginal pullback to $109k.
Traders Make Significant Gains and Losses on Hyperliquid
Amidst the backdrop of this, Hyperliquid is reported to have become the centre of social media discussion as popular trader Andrew Tate makes a 138.5% gain on an Ethereum long position with a 25X leverage on the exchange. Basically, his position had an entry price of 2,515.9 and a mark price of 2,655.3. In the post, Tate included a referral code for joining the Hyperliquid platform, triggering interest among potential traders.
Contrary to Tate’s gains, James Wynn recorded a massive loss of $100 million on a Bitcoin bet on the platform. After this unexpected loss, he liquidated almost all his HYPE tokens.
In May 2025, CNF labelled him as crypto’s boldest whale on the Hyperliquid platform. As indicated in our recent news story, he made $39 million in profit at a point after increasing his position to $1.25 billion or 11,588 BTC equivalent.
In a different post, Wynn criticised the competitiveness of the Hyperliquid’s referral program after claiming to have received only $34k for his several referrals.
I made $34,000 through referrals on their platform. Which is extremely poor considering the number of sign-ups and volume I generated. Their referral program sucks. Other platforms are far better.
In May, Hyperliquid recorded its highest monthly trading volume of $248.3 billion. As noted in our earlier discussion, the exchange recorded a revenue of $70.45 million which was generated from trading fees and ticker auctions.
The HYPE token has also received massive interest with a whale purchasing $9.976 million worth of the asset. Another whale is also reported to have made a profit of $10 million from trading HYPE.
