Hyperliquid's Meteoric Rise: Surpassing Key Milestones
Hyperliquid is making significant waves in the crypto space, having surged by an impressive 330% from its lowest point in April. The platform appears poised for further gains after crossing a crucial $2 billion milestone in total value locked (TVL). As of Sunday, June 15, Hyperliquid's price is trading at $40.4, just shy of its all-time high of $43.96. Its market capitalization has soared to $13 billion, with a fully diluted valuation reaching $40.75 billion.
This remarkable growth is underscored by data from DeFi Llama, which shows Hyperliquid's layer-1 chain TVL jumping to $2.01 billion a substantial 70% increase in just the last 30 days. This expansion firmly establishes Hyperliquid as the 11th largest chain in the crypto industry, now outranking well-known networks such as Cardano, Hedera Hashgraph, and Near Protocol. The ecosystem's strength is further solidified by its key players, including Hyperliquid itself, Hyperlend, Felix, Morpho, and Hyperbeat.
Adding to its growing influence, Hyperliquid has emerged as a significant player in the stablecoin sector. Its layer-1 network now holds a remarkable $3.7 billion in stablecoins, representing a substantial increase from $2 billion recorded in January of this year. This accumulation of stablecoin liquidity highlights Hyperliquid's increasingly vital role within the broader DeFi landscape.