Hyperliquid continues to show growth, accompanied by increasing deposits and upcoming network updates.
Overview of Hyperliquid
As of now, Hyperliquid is trading at $39.85, which is up 6% from the previous day. Over the past week, the token has fluctuated between $35.50 and $41.02 while remaining 12% below its record of $45.57 set on June 16.
Rising Deposits and Trading Volume
Recent price gains are accompanied by a significant increase in capital inflows. Deposits in Hyperliquid surged from around $500 million at the end of 2024 to nearly $4 billion, according to data from analytics firm Purrsec. These inflows reflect increased capital efficiency and user confidence.
Hyperliquid now controls more than 75% of the decentralized perpetual trading volume. The platform processed $220 billion in volume over the past 30 days, more than six times that of its nearest competitor. Cumulative trading volume has surpassed $1.1 trillion, with recent weekly activity ranging from $50 billion to $75 billion.
Future Upgrades and Market Outlook
Several key updates have strengthened on-chain momentum. With the anticipated release of CoreWriter, HyperEVM applications will be able to communicate natively with HyperCore, the protocol’s high-performance trading engine. This could enhance speed, efficiency, and composability.
Additionally, two important initiatives are moving forward. The first is HIP-3, a proposal that would allow permissionless perpetual markets, meaning that anyone meeting the staking threshold could list new assets. This could significantly increase fee generation and long-tail market coverage.
Furthermore, as HyperEVM continues to be implemented, third-party development is expanding. Integrations with Gelato and Stargate are underway and will enhance the flexibility and interconnectedness of the DeFi ecosystem.
Currently, HYPE shows signs of an impending breakout, sustained by rising volumes and upcoming updates. If HYPE can break through the $41-$42 resistance zone, the next target would be a retest of the all-time high near $45.
