Hyperliquid is causing ripples in the crypto markets; the platform has attracted a $1 billion net inflow of USDC in 15 days after its Token Generation Event (TGE) on November 29

Data from Spot On Chain also reveals that the total USDC balance in the platform has risen to $2.09 billion in just 17 days proving its rapid growth and popularity.

Crypto platform Hyperliquid is seeing ripples of activity in the markets; the platform has seen a net inflow of USDC for 15 days after its Token Generation Event (TGE) on 29th November, amounting to a massive $1 billion.

Data from Spot On Chain further reveals that the total USDC balance in the platform has risen to $2.09 billion in just 17 days, showcasing the platform’s rapid growth and popularity.

This is visualized in the graph, where Hyperliquid has been receiving daily USDC inflows from the time of its TGE. Specifically, on 29th November, a USDC inflow of $181.72 million was observed, which could be attributed to the chain’s early performance. From there, daily additions were noted, leading to the accumulation of $2.09 billion.

As noted by Spot On Chain, the platform’s deposit bridge has more than doubled in less than three weeks, highlighting increasing institutional and retail interest in the platform.

Concurrently with the USDC influx, the price of $HYPE, the token offered by the platform, has surged by 729% over the period. This is depicted in the graph, where the price of $HYPE increased from $6.51 on 29 Nov to $24.28 by 16 Dec.

Such growth in inflows and token prices indicates that investors and other market players are showing increasing interest in Hyperliquid’s ecosystem.

The growth of Hyperliquid showcases the dynamics of DeFi platforms. With Hyperliquid’s total USDC inflows now at $2 billion, it can be inferred that the investors have a long-term bullish view on the Hyperliquid platform.

If $HYPE continues to rally and inflows remain strong, Hyperliquid could be signaling the start of a new market phase for DeFi more broadly.