HYPE Price Eyes $50 as Hyperliquid TVL Tops $2B, Surpasses Cardano and Near

Bybit
Chart showing Hyperliquid price and total value locked surpassing $2 billion
Changelly

Hyperliquid Hits $2B Mark, HYPE Looks to $50

Hyperliquid’s native cryptocurrency HYPE is showing increased momentum as the overall TVL of the protocol crossed $2 billion for the first time. It is an important milestone for the new Layer-1 blockchain, which has now passed leading networks like Cardano and Near Protocol in TVL charts.

As of Sunday, June 15, HYPE token was trading at $40.4, which is slightly lower than its all-time peak of $43.96. The token has appreciated 330% from the April lows, bringing its market value to $13 billion and full diluted valuation (FDV) to $40.75 billion.

Hyperliquid Becomes Top-11 Chain, Beats Cardano

Hyperliquid is currently the 11th largest crypto chain by TVL, based on DeFi Llama, which increased 70% in the previous month to $2.01 billion. That meteoric surge now positions it above established projects such as Hedera Hashgraph, Cardano, and Near.

The most active players contributing to this surge are Hyperliquid itself, along with ecosystem protocols Hyperlend, Felix, Morpho, and Hyperbeat.

Stablecoin Activity Reflects Network Health

Hyperliquid is also becoming the go-to stablecoin giant. It currently has $3.7 billion worth of stablecoins, up from $2 billion at the start of the year. That ranks sixth on the list—behind only Ethereum, Tron, Solana, BNB Chain, and Base.

okex

An increase in volumes of stablecoins is typically a sign of a very active and liquid blockchain ecosystem, once again pointing to Hyperliquid’s progress.

Perpetual Exchange Volume Surges

Other than DeFi TVL, Hyperliquid’s perpetual exchange continues to intimidate the competition. Traders over the past 24 hours averaged more than $4.43 billion—a combined figure of all other top-10 exchanges. Monthly volume is an astronomical $242 billion.

Staking Activity Rises

Investor sentiment appears robust, with HYPE staking seeing tremendous growth. The staking market cap has risen 16% in the past week and sits at $17.1 billion.

Technical Analysis: Breakout on the Table

Technically, HYPE has been in a solid uptrend since April, with price action printing higher highs and higher lows. The token sits comfortably above its 50-period and 100-period moving averages, and $39.94 stands as significant support.

With the trend continuing, HYPE can break its ATH of $43.95 shortly and potentially reach the psychological $50 level.

Conclusion

Hyperliquid is soon to consolidate as a top Layer-1 blockchain, with rampant TVL, growing stablecoin turnover, a market-top derivatives exchange, and an uptrending technical perspective for HYPE. All signs point towards a new high to be made around $50.

fiverr