according to materials from the website - By The Crypto Times
The price of the native token of the decentralized derivatives exchange Hyperliquid, HYPE, has risen nearly 4% in the last 24 hours, exceeding $45, according to former BitMEX CEO Arthur Hayes' forecast.
At the WebX 2025 conference in Tokyo, Hayes stated that HYPE could grow 126 times over the next three years. Additionally, he noted that the expansion of USD-backed stablecoins could increase Hyperliquid's annual fees from the current $1.2 billion to $258 billion in the future.
Furthermore, the US intends to redirect the $10–13 trillion eurodollar market into government-backed stablecoins. This will enhance liquidity on decentralized finance (DeFi) platforms such as Hyperliquid and Ethena.
At the time of writing, the price of HYPE was only 8% below its all-time high of $49.86, reached in July, with a market capitalization of $15 billion. The trading volume for the day rose to $270 million, increasing by 78% over the day.
Hyperliquid is a decentralized exchange (DEX) that allows trading perpetual futures and contracts without expiration, enabling traders to take credit positions on crypto assets.
Recently, the exchange has seen record activity. According to the analytical platform Hypertracker, the total number of open positions reached nearly 196,462, while open interest surpassed $15 billion. The total wallet capital reached $31 billion. Over the weekend, trading volume hit $1.56 billion, as reported by DefiLlama. Moreover, transaction fees reached a July high of $93 million. In less than two years, Hyperliquid has grown from zero to controlling over 75% of the decentralized perpetual exchange market. For comparison, dYdX's share was 73% at the beginning of 2024 but fell to just 7% by the end of the year. Currently, Hyperliquid's daily trading volume reaches $30 billion, which is almost equal to Binance's figures for some trading pairs.
#Сryptomarketnews #MarketTurbulence
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