HYPE has skyrocketed over 300% since April, fueled by increased usage of the Hyperliquid exchange and heightened investor interest. Currently, Hyperliquid dominates the decentralized perpetuals market, handling over 70% of DEX perpetual volume. The platform reinvests 97% of its protocol fee revenue into HYPE buybacks, aligning token incentives with growth. As of now, Hyperliquid ranks eighth in total value locked (TVL) among blockchains, with $1.75 billion secured. Its DEX processes over $420 million in daily volume, making it the sixth largest decentralized exchange. Recently, Nasdaq-listed Lion Group announced it would hold $600 million in reserves with HYPE as its main treasury asset. Despite its rapid ascent, questions linger about the sustainability of HYPE's growth. Launched in 2023 by Harvard alumni, Hyperliquid aims to combine the transparency of decentralized exchanges with the speed of centralized ones. However, its reliance on a limited number of validators raises concerns about decentralization. The future of HYPE remains uncertain, but its potential is significant. Read more AI-generated news on: https://app.chaingpt.org/news