Hyperliquid's HYPE token has reached a new all-time high

Today, June 11, 2025, the price of Hyperliquid's HYPE token has reached a new all-time high, at nearly $43.

Today, June 11, 2025, saw the price of Hyperliquid’s HYPE token reach a new all-time high, at nearly $43.

This is a new crypto, which landed on the crypto markets only at the end of November last year, so at a time like this, it is not so unusual for it to register all-time highs.

The trend of the price of HYPE

HYPE is the native cryptocurrency of Hyperliquid.

It landed on the crypto markets in the midst of a mini-altseason, in the second half of November 2024 after Trump’s electoral victory.

The initial price was below $7, but in less than a month it had already risen above $32.

That, however, was in all respects a mini-bubble, which then burst starting from the end of December, so much so that the price of HYPE in 2025 then fell, reaching an annual low of just over $10 in April.

However, when the crypto markets woke up in May, the price of HYPE first returned above $20, and then starting from May 8th, it began a rally that might still be ongoing.

This rally first brought it back above $30 in the second half of May, and then in recent days it also took it above $40.

Excluding the initial price, which was largely undervalued, for several months it had fluctuated around $20, although with a notable amplitude of fluctuation.

The exit from this oscillation range came precisely in the second half of May, when it surged past 30$, quickly reaching 35$.

The Hyperliquid Ecosystem

Hyperliquid is a new blockchain specifically designed to enhance the efficiency and performance of DeFi applications.

Its level 1 blockchain was designed from scratch to optimize performance and scalability, thanks to a new proprietary consensus mechanism called HyperBFT.

In a few months, it has already reached a TVL of 1.7 billion dollars, higher than that of Avalanche or Polygon.

It has almost reached SUI, launched more than two years ago, and it is not very far from Arbitrum.

The heart of the Hyperliquid ecosystem is the DEX for on-chain trading of perpetual futures, with no gas on transactions.

This approach is proving successful, both because it reduces the cost barrier for participants and because it significantly improves the speed and efficiency of transactions, and above all because the trading of perpetual futures is highly appreciated by traders. Since all this takes place on a decentralized exchange, there are no limits and it can be done anonymously.

In particular, the DEX of Hyperliquid has a completely on-chain order book, which is quite rare among DEXs. The on-chain approach provides greater transparency and security, and this is highly appreciated by traders.

Hyperliquid is a crypto project that aims to revolutionize DeFi by offering, thanks to a high-performance, cost-effective, and transparent platform. For this reason, it is attracting a lot of attention.

In fact, the daily trading volume on Hyperliquid’s DEX has already exceeded 500 million dollars, surpassing SUI, although still quite distant from Arbitrum. However, the growth rate is remarkable.

The hype on HYPE

In light of all this, it is clear why so much interest in Hyperliquid has surged in such a short time.

This interest obviously then spilled over to the new crypto HYPE, which in a short time managed to record a x7 compared to the initial price.

According to the famous co-founder of BitMEX, Arthur Hayes, HYPE is accumulating short liquidations, and it is possible that this is the reason behind yesterday’s strong rise that brought it to all-time highs.

HYPE is now putting up YOLO price action as it continues to massively liquidate the "all-in" Bitcoin shorts. Amazing scenes unfolding on the markets today! 🔥

— Arthur Hayes (@Arthur_Hayes) June 10, 2025

Hayes, who is known for making bold claims, claims that Hyperliquid could even surpass Binance during the current bull cycle in terms of trading volumes in the perpetual futures market.

The words of the famous co-founder of BitMEX make it at least evident how much hype is forming around Hyperliquid and its token HYPE, and this very simply explains why it recorded a +21% in two days.

The hypothesis circulating is that it might even manage to break the psychological threshold of $50, should the current rally truly continue. In the long term, there are those who even claim it could end up rising above $100, but in this case, it is not about precise and justified analysis.

The hype about HYPE is so strong that even Binance US talked about it a few days ago.