Hyperliquid, a decentralized trading platform, has reached an all-time high amid record spot trading volumes, indicating growing interest from institutional investors.
All-Time High for HYPE
On August 27, Hyperliquid reached a price peak of $50.99 for the HYPE token with a spot trading volume of $3.4 billion. Significant interest in BTC and ETH transactions was the main driver for this growth.
Increase in Institutional Interest
BitGo's support for HyperEVM has increased trust among institutional investors. "Institutional investors now have access to secure custody and compliance-grade infrastructure," said Mike Belshe, CEO of BitGo.
Trading Activity Metrics
Monthly trading volume on the Hyperliquid platform surpassed $18 billion, contributing to a Total Value Locked of $721 million. The rise in futures open interest, now at $2.23 billion, signifies heightened interest from both speculative and institutional participants.
Hyperliquid's success reflects the increasing popularity of decentralized exchanges in trading and capital allocation, opening new opportunities for institutional investors.
