Hyperliquid Price Hits ATH as Whale Short Gets Liquidated on 5x Bet
Key Insights
- Hyperliquid price surges 17.9% to new ATH of $35.93, driven by record daily protocol activity
- HYPE hits $8.9B open interest, dominating 82.6% of DeFi perp market volume
- Whale shorting HYPE with 5x leverage exits with a $23.5M loss after 77% drawdown
Hyperliquid (HYPE) price reached a new all-time high of $35.93 after rising 17.9% in 24 hours. Surging activity across the platform fueled the move, including record fees, trading volumes, and open interest. HYPE quickly became one of the most active tokens in both centralized and decentralized markets.
During the same period, a leveraged whale short resulted in a massive $23.5 million loss. The short liquidation underscored how quickly momentum shifted as on-chain activity intensified across Hyperliquid.
Trading Metrics Surged as HYPE Dominated DeFi Volume
Hyperliquid reported $8.9 billion in open interest and $3.2 billion in USDC TVL. The platform also generated $5.4 million in daily trading fees—its highest figure on record.
According to Artemis, Hyperliquid handled $53.8 billion of the DeFi perpetual market’s $65.2 billion weekly volume. This gave it a commanding 82.6% market share—well ahead of rivals like Drift, ApeX, and GMX.
In protocol fee rankings, Hyperliquid collected $5 million in a single day. Tron and Solana earned less than $2.5 million each.
The growth placed Hyperliquid ahead of Robinhood, which processed $145 billion across all asset classes in March. HYPE currently supports $190 billion in monthly DeFi derivatives trading.
HYPE’s breakout coincided with a surge in protocol users and transaction count, according to Hyperliquid data. The number of unique traders jumped above 62,000, while active addresses climbed 48% week-on-week. This user growth helped validate the protocol’s traction beyond speculation, signaling deeper market confidence in its trading infrastructure.
Whale Loses $23.5 Million as Hyperliquid Price Rally Prompts a Closeout
Even though Hyperliquid’s protocol metrics were at their highest, one trader lost a lot of capital when the market turned against him.
Spot On Chain reported that a trader who borrowed 5x and sold 1.875 million HYPE tokens at $57.14 million lost about $23.52 million which equals 77% of the original stake.
The trader kept $30.5 million in USDC on Hyperliquid for 23 days to maintain the short. With HYPE’s price going up fast, the account no longer had enough collateral, and the trader had to close their position.
Hyperliquid Price Technical Indicators Suggest Momentum May Continue
The HYPE/US Dollar chart shows a strong rise and a clear breakthrough of the resistance level. Current support is found at $33.24 on Fibonacci levels, while resistance is between $36.34 and $38.26. Above the Ichimoku Cloud, the token is showing strong upward movement.
Stochastic RSI is now at 89.4 and the %K and %D lines are close to 94.52, which may mean a brief pause for prices. Still, AO is displaying a rise in green bars, which shows that bullish pressure is increasing.
If Hyperliquid keeps its user base and fees, some analysts believe the price could reach $300 if daily fees grow to $6 million. At the present rate of sales and involvement in the market, a valuation of $20 billion could be achieved if the price-to-sales ratio is 40.
Hyperliquid is gaining traction now because people use the protocol, not just trade its tokens. As Bitcoin stays close to its all-time highs and other altcoins advance slowly, Hyperliquid’s impressive fee income and steady growth are attracting both traders and developers.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
