Hyperliquid (HYPE) Price

$42.17

Hyperliquid (HYPE) Price Today

The live price of Hyperliquid is $42.17 USD. In the past 24 hours, the trading volume of Hyperliquid was $205.8M USD, with a change of +4.46%. The current live price of Hyperliquid has changed by -3.84% from its 7-day high of $43.85 USD and by +12.82% from its 7-day low of $37.38 USD. With a circulating supply of $999,993,930.00 HYPE, the market cap of Hyperliquid is currently $13.6B USD, marking a +5.18% change in the last 24 hours. Hyperliquid currently ranks 11 by market capitalization.

Hyperliquid (HYPE) Market Data

Market Cap

$14B

24h Volume

$205.8M

Circulating Supply

999.9M HYPE

Maximum Supply

1B HYPE

Fully Diluted Market Cap

$42.1B

Liquidity Indicator

1.46%

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About Hyperliquid (HYPE)

What Is Hyperliquid (HYPE) and How Does It Work?

Hyperliquid (HYPE) is the native token of Hyperliquid, a fully on-chain decentralized derivatives exchange built on its own custom Layer 1 blockchain. Launched to rival centralized exchanges, Hyperliquid enables users to trade perpetual futures with up to 50x leverage, zero gas fees, and instant execution.

The platform stands out by using a high-performance blockchain that supports an on-chain order book, allowing every trade, order, and liquidation to be recorded transparently on-chain, something rare among decentralized exchanges. It employs a custom consensus mechanism called HyperBFT, which ensures fast finality and high throughput, enabling efficient trading without sacrificing decentralization.

The HYPE token powers the ecosystem through multiple use cases, including:

• Governance participation for protocol upgrades

• Staking for yield and validator rewards

• Discounted trading fees

• Liquidity incentives and community rewards

Hyperliquid is designed for professional and retail traders seeking the speed of a CEX with the security and transparency of a DEX, making it one of the most promising platforms in the next generation of on-chain derivatives trading.

Learn more about the Hyperliquid The High-Speed DEX and how it works in our comprehensive guide.

How Does Hyperliquid Differ From Other DEXs like dYdX or GMX?

Hyperliquid sets itself apart from dYdX and GMX by running on its own high-performance Layer 1 blockchain with a fully on-chain order book. Unlike dYdX, which initially relied on StarkEx (an Ethereum Layer 2 solution) and used off-chain matching engines, Hyperliquid keeps all trade data, including order placements and liquidations, on-chain for maximum transparency.

Compared to GMX, which uses a virtual automated market maker (vAMM) model and relies on liquidity pools, Hyperliquid functions more like a traditional centralized exchange but without custodial risks. It offers features like:

• Zero gas fees

• Sub-second latency

• Up to 50x leverage

• Support for over 130 perpetual trading pairs

While GMX focuses on simplicity and passive LP rewards and dYdX emphasizes scalability via Layer 2, Hyperliquid aims to provide a CEX-level trading experience in a fully decentralized environment, appealing to advanced traders seeking speed, transparency, and control.

When Was Hyperliquid Launched?

Hyperliquid began development in 2022, with its decentralized exchange (DEX) going live in 2023. The native token, HYPE, was officially launched on November 29, 2024, through a highly anticipated airdrop event that distributed approximately 270 million tokens to early users.

Hyperliquid was founded by Jeff Yan and iliensinc, both Harvard alumni. The team comprises individuals with backgrounds from prestigious institutions like Caltech and MIT, and professional experiences at companies such as Google, Citadel, Hudson River Trading, and Nuro. Notably, Hyperliquid Labs is self-funded, having declined venture capital investments to maintain independence and focus on building a user-centric platform.

Hyperliquid's roadmap focuses on enhancing decentralization, expanding its ecosystem, and improving user experience. Key milestones include:

• HyperEVM Deployment: Launched on February 18, 2025, HyperEVM provides full Ethereum compatibility, enabling developers to deploy decentralized applications (dApps) seamlessly within the Hyperliquid ecosystem.

• HyperBFT Consensus Implementation: Transitioned to a proof-of-stake model using the HyperBFT consensus algorithm, enhancing network security and scalability.

• Permissionless Liquidity Introduction: Developed mechanisms allowing users to provide liquidity without centralized approval, fostering a more decentralized trading environment.

• Expansion Beyond the DEX: Exploring additional financial instruments and services to diversify offerings and cater to a broader spectrum of user needs within the decentralized finance space.

• Community Growth and Revenue Redistribution: Committed to a community-first approach, with millions in revenue redistributed to users through initiatives like the Hyperliquidity Provider (HLP) program and the Assistance Fund (AF).

What Are the Main Uses for HYPE Token?

The HYPE token serves multiple purposes within the Hyperliquid ecosystem, including paying trading fees, participating in governance, staking for rewards, and contributing to network security through validator operations. You can also trade HYPE tokens on the BingX spot market by logging into your account, searching for the HYPE/USDT trading pair, and executing buy or sell orders in just a few clicks.

What Is Hyperliquid Tokenomics?

Hyperliquid has a total supply of 1,000,000,000 HYPE tokens.

HYPE Token Allocation Breakdown

• Future Emissions & Community Rewards: 38.888% (388.88 million HYPE)

• Genesis Distribution: 31.0% (310 million HYPE)

• Core Contributors: 23.8% (238 million HYPE)

• Hyper Foundation Budget: 6.0% (60 million HYPE)

• Community Grants: 0.3% (3 million HYPE)

• HIP-2 Allocation: 0.012% (120,000 HYPE)

How to Stake HYPE Tokens on Hyperliquid

Staking your HYPE tokens on Hyperliquid is a straightforward process that enables you to earn passive rewards while contributing to the network's security and governance. Here's a step-by-step guide to help you get started:

1. Set Up a Compatible Wallet: Install a Web3 wallet like MetaMask or Rabby Wallet. Ensure your wallet is funded with HYPE tokens.

2. Access the Hyperliquid Staking Dashboard: Navigate to the Hyperliquid Staking Portal.

3. Connect Your Wallet: Click on "Connect Wallet" and approve the connection request in your wallet.

4. Transfer Tokens to Staking Balance: Use the "Spot ↔ Staking Balance Transfer" option to move your desired amount of HYPE tokens from your spot account to your staking balance. Confirm the transaction in your wallet.

5. Stake Your HYPE Tokens:

• Click on "Stake Tokens."

• Enter the amount of HYPE you wish to stake.• Select a validator from the list (e.g., "USDT0 x Luganodes" for institutional-grade reliability).

• Confirm the staking transaction in your wallet.

6. Monitor Your Staking Rewards: After staking, you can view your staked balance and accrued rewards on the dashboard. Rewards are distributed daily and automatically compounded.

What Blockchain Network Does HYPE Token Operate on?

The HYPE token operates on the Hyperliquid Layer 1 blockchain, a custom-built, high-performance network designed specifically for decentralized perpetual trading. Unlike most decentralized exchanges that rely on Ethereum or Layer 2 scaling solutions, Hyperliquid runs its own blockchain infrastructure to support features like a fully on-chain order book, sub-second finality, and zero gas fees. This custom Layer 1 leverages the HyperBFT consensus mechanism, enabling rapid trade execution, enhanced scalability, and decentralized validator participation, all while maintaining full transparency and security for every transaction on the network.

Which Wallets Support Hyperliquid Tokens?

For seamless trading, consider storing your HYPE tokens directly on the BingX spot market. This custodial solution offers instant access to trading pairs like HYPE/USDT, enabling swift buy and sell actions without the need for external wallet connections. It's an ideal choice for active traders seeking convenience and integrated platform features.

For users seeking self-custody options, several wallets support the HYPE token across both Hyperliquid Layer 1 and HyperEVM. Gem Wallet, available on iOS and Android, is purpose-built for the Hyperliquid ecosystem, offering features like direct trading, staking, in-app token purchases, and secure transfers. Trust Wallet provides an EVM-compatible experience through its mobile app and browser extension, enabling seamless trading, staking, and dApp access on Hyperliquid. Similarly, Leap Wallet supports HyperEVM and offers balance tracking, token transfers, and an upcoming in-wallet swap feature, making it easy to manage HYPE tokens on both desktop and mobile. Other compatible wallets include MetaMask and Rabby Wallet, which can all be connected via WalletConnect for full access to Hyperliquid’s trading and staking features. When selecting a wallet, consider your trading habits and security preferences to choose between the flexibility of self-custodial options and the convenience of centralized platforms like BingX.

What Makes Hyperliquid (HYPE) a Good Investment?

Hyperliquid (HYPE) presents a compelling investment opportunity due to its unique position as a fully on-chain perpetuals exchange operating on its own custom Layer 1 blockchain. Unlike most decentralized exchanges that rely on Layer 2 solutions or external infrastructure, Hyperliquid maintains an on-chain order book, zero gas fees, and sub-second transaction speeds, all while preserving full decentralization. This design offers the transparency and security of a DEX with the performance and user experience of a CEX, attracting both professional traders and crypto-native users. With support for over 130 trading pairs and advanced tools like scale orders and TWAP, Hyperliquid has rapidly become one of the most robust decentralized trading platforms.

In addition to its strong technical foundation, HYPE benefits from thoughtful tokenomics and a community-first distribution model. Over 70% of the total supply is allocated to community incentives, staking rewards, and future emissions, aligning long-term value with user participation. The platform also redistributes trading revenue to token holders via mechanisms like buybacks, staking rewards, and liquidity incentives. As the protocol expands through initiatives like HyperEVM integration and permissionless liquidity, HYPE stands to gain increased utility, network adoption, and investor confidence, making it a potentially strong asset for those seeking exposure to the next generation of DeFi infrastructure.

Information source

Official Website

Whitepaper

Hyperliquid (HYPE) Price Converter

HYPE to USD

1 HYPE = $ 42.18

HYPE to VND

1 HYPE = ₫ 1,099,915.19

HYPE to EUR

1 HYPE = € 36.52

HYPE to TWD

1 HYPE = NT$ 1,246.46

HYPE to IDR

1 HYPE = Rp 687,440.80

HYPE to PLN

1 HYPE = zł 155.97

HYPE to UZS

1 HYPE = so'm 536,394.85

HYPE to JPY

1 HYPE = ￥ 6,078.80

HYPE to RUB

1 HYPE = ₽ 3,366.38

HYPE to TRY

1 HYPE = ₺ 1,661.63

HYPE to THB

1 HYPE = ฿ 1,366.03

HYPE to UAH

1 HYPE = ₴ 1,751.10

HYPE to SAR

1 HYPE = ر.س 158.33

Hyperliquid Price Converter

How to Buy Hyperliquid (HYPE)

Create & Verify Your Account

Create a free BingX account using your email or phone number, set a strong password, and complete identity verification (KYC) by submitting your personal details and a valid photo ID.

Fund Your Account

Choose a payment method—bank account, card, or more—to deposit funds into your BingX account.

Trade Now

Now that your account is funded, you can seamlessly trade Hyperliquid HYPE and other cryptocurrencies while exploring BingX’s diverse trading features!

How to Buy HYPE Guide

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Disclaimer:

Price analysis and valuation are influenced by multiple factors, and theoretical projections do not guarantee that a token will reach a specific price level. The information provided is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.

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Trading cryptocurrencies and other financial instruments involves risks, including the potential for loss of funds. You should never trade more than you can afford to lose. Please be aware of the risks involved and seek independent financial advice if necessary.

For more detailed information, please refer to our Risk Disclosure Statement.

Disclaimer:

By accessing and using this platform, you agree to comply with our Terms of Use.

For more detailed information, please refer to our Risk Disclosure Statement.