The total open interest (OI) on Hyperliquid has crossed $10.6 billion on July 12, marking a new all-time high. This comes as crypto market activity rises to record highs with Bitcoin surging past $119K on July 10.
Besides, its native token HYPE is also showing significant momentum with gaining more than 19.23% in a week and broke to a new all-time high. This price rally was witnessed right after HYPE’s official listing on Bybit’s spot market. At present, HYPE is trading at $47, with a $15.72 billion market cap, according to CoinMarketCap data.
Institutional Support and Ecosystem Growth
Last month, Tony G Co-Investment Holdings invested $438,000 in HYPE, making it the first public company to include HYPE in its treasury.
Hyperliquid operates its own Layer-1 blockchain, using HyperBFT consensus to power high-speed trading. The platform eliminates gas fees and delivers CEX-like speed while keeping trades on-chain. It currently has over $463 million in bridged TVL.
Besides platform growth, HYPE benefits from wallet-based perpetual trading integration across Europe. Phantom Wallet now supports Hyperliquid API with up to 40x leverage and non-custodial access.
Furthermore, former BitMEX CEO Arthur Hayes and trader James Wynn have openly supported HYPE, fueling buzz around an altseason. As Bitcoin reclaims a $2.36 trillion market cap, interest in altcoins and leverage trading is rising.
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