Hyperliquid's HYPE Token Soars to Record High as Open Interest Exceeds $9 Billion

Hyperliquid's native HYPE token recently reached a record all-time high of $367.24. This impressive surge was driven by regulatory momentum, significant whale activity, and an open interest milestone of $9.37 billion, highlighting the platform's increasing dominance in decentralized derivatives trading.

HYPE's value has risen 14.5% in the past 24 hours, and 37.7% in the last week, a trend amplified by Bitcoin’s own significant rise. Hyperliquid Lab's proactive engagement with regulatory bodies has been at the forefront of HYPE's growth. The company has advocated for decentralized finance (DeFi) frameworks to improve market efficiency, integrity, and user protection.

Open interest on the protocol has also reached an all-time high, reflecting the enthusiasm of investors. However, the bullish trend has led to some significant losses for those who bet against HYPE.