Hyperliquid surges in May, cumulative volume exceeds $242b
The post Hyperliquid surges in May, cumulative volume exceeds $242b appeared on BitcoinEthereumNews.com.
Hyperliquid, the biggest player in decentralized perpetual futures, had its best month ever as volume on its platform soared and its token surged to a record high. Hyperliquid (HYPE) price soared to $39.92 on May 26, up by over 327% from its lowest point in April. This surge brought its market cap to over $10.9 billion and the fully diluted valuation to over $35 billion. Data shows that Hyperliquid had a cumulative volume of over $242 billion in May, much higher than other companies combined. Jupiter had $19.78 billion in volume, while Apex Protocol, APX Finance, and edgeX had less than $10 billion each. Hyperliquid’s volume in May was much higher than April’s $187 billion and March’s $175 billion. This growth means that Hyperliquid has processed tokens valued at over $1.6 trillion since its inception. Hyperliquid now competes with top centralized exchanges like Binance, Bybit, and Bitget. It handled over $4 billion in assets in the last 24 hours, while the three centralized platforms handled $41.27 billion, $15 billion, and $14 billion. The soaring volume made Hyperliquid one of the most profitable players in the crypto industry. It made over $69 million in fees in May. That’s higher than Ethereum (ETH), Raydium (RAY), and BSC Chain, which made $40 million, $42 million, and $15 million, respectively. Hyperliquid’s volume rebounded as the crypto market bounced back, with Bitcoin soaring to a record high of $111,900, and the market cap of all coins crossing the $3.5 trillion market cap. HYPE price technical analysis HYPE price chart | Source: crypto.news The 12-hour chart shows that the HYPE price bottomed at $9.2952 on April 7, then surged to $39.92 in May. It formed a cup-and-handle pattern whose upper side was at $28.40. A C&H pattern is one of technical analysis’s most bullish continuation patterns.…
