Hyperliquid's HYPE token climbs as platform hits $2.9T in 2025 trading volume

The Hyperliquid token (HYPE) saw a modest rise in value, trading near $63.67 after a 0.63% daily gain. The platform continues to expand its market reach, now supporting a wide range of assets from crypto to equities and commodities. Hyperliquid has rapidly become a major player in decentralised finance. It processed roughly $2.9 trillion in trading volume in 2025 alone, generating approximately $873 million in revenue. A significant portion of this income, about 99%, is used to repurchase HYPE tokens, reinforcing its value.

The platform dominates the decentralised perpetual futures market, controlling over 59% of open interest. Its recent launch of an officially licensed S&P 500 perpetual contract saw daily volumes exceed $100 million in its first week. Additionally, the HIP-3 market for SpaceX shares recorded $1.4 billion in trading volume on the company’s IPO debut.

Investment firm Multicoin Capital holds HYPE as one of its largest positions. The firm also predicts the token could surge to $319 by 2028, reflecting strong confidence in its long-term potential. Hyperliquid’s growing influence spans multiple asset classes, from crypto to traditional financial products. The platform’s high trading volumes and revenue-sharing model continue to drive demand for HYPE. Analysts foresee substantial growth ahead for the token.