The current price of Hyperliquid(HYPE) is $93.01 USD, up 8.59% in the past 24 hours. Its market cap stands at $19.52 billion, with a circulating supply of 251.63 million HYPE and a 24-hour trading volume of $65,567.7 USD. The upward movement reflects increased buying activity and positive short-term market sentiment. HYPE prices are updated in real-time on the Bitrue crypto trading platform to reflect global market trends and investor participation.
Hyperliquid (HYPE) is a purpose-built Layer-1 blockchain designed to bring centralized-exchange speed to decentralized trading. Rather than running on a general-purpose chain like Ethereum or Solana, Hyperliquid operates its own network optimized specifically for perpetual futures and spot trading, offering sub-second finality and throughput of up to 200,000 orders per second.
Hyperliquid was founded in 2022 by Jeff Yan and a team with backgrounds at Caltech, MIT, Citadel, and Hudson River Trading, and launched without venture capital backing. HYPE, the network's native token, has a maximum supply of 1 billion and was distributed via a landmark November 2024 airdrop to nearly 100,000 early users.
HYPE secures the network through staking, is used to pay gas fees, and powers governance. A notable feature of its tokenomics is that a significant share of protocol trading fees is used to buy back and burn HYPE, tying the token's supply directly to platform usage.
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More information can be found at https://hyperliquid.xyz/.