Hyperliquid Occupies 70% Perps Market as HYPE Rises Over 10%

• Hyperliquid’s on-chain perpetuals occupy a total of 70% of the market share. 
• The blockchain processed a whopping $175 billion in perpetual protocol trade market share in the last month. 

The Hyperliquid blockchain platform has created a name for itself in the industry with its unique offerings. It particularly strengthened its position in the perpetual protocol market from 2024. As per The Block Data analytics, Hyperliquid recorded a 70% market share in the last month. 

Hyperliquid recorded a significant $175 billion in the last month. It has already recorded $83 billion this month, leaving room for more growth before we enter the next month. The blockchain’s growth indicates the increasing adoption of decentralized derivatives trading in the crypto market. 

While the total volume of perpetuals is over $7.8 billion as per DeFiLlama, Hyperliquid alone accounts for $4.765 billion in the last 24 hours. Solana DEX Jupiter holds the 2nd position with $579.02 million volume. ApeX Protocol, Vertex Edge, RabbitX Fusion, and GMX occupy the subsequent positions with considerable perpetual volumes. 

HYPE Records Over 10% Monthly Surge Amidst Increasing On-chain Activity

Hyperliquid native token HYPE is trading at $16.68 with a slight increase of 1.23% in the last 24 hours. It recorded price surges of 9.67% and 11.41% on a weekly and monthly basis, respectively. While its market cap is $5.58 billion, its 24-hour trading volume surged by more than 17%. 

The HYPE token jumped 8% at the beginning of this month with a trading volume surge of 47%. The token could reach $18.485 to $27.340 in 2025, as per price prediction estimates. The bearish prediction indicates a drop towards the $8.834 price level. 

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