HYPE Price Surges to All-Time High of $39.83 Amid Whale Buying

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Hyperliquid has quickly emerged as a key player in the decentralized finance (DeFi) space, becoming the top platform for perpetual trading. Its native token, HYPE, recently hit a new all-time high of $39.83, driven by rising attention and significant whale activity. Open interest has surged past $1.3 billion, reflecting strong demand and positioning HYPE in an early growth phase. The project is gaining momentum fast, supported by increasing volumes and high-profile trades.

Trader Turns $3M Into $30M

A major highlight came from an impressive trade by 0x15b3, a smart investor who turned $2.95 million into nearly $30 million on Hyperliquid in under two months. As reported by Lookonchain, this move happened during the April 7–9 market crash when Bitcoin dropped below $75,000.

While many panicked, the trader created a new wallet, deposited USDC, and opened long positions on 16 tokens including HYPE, ETH, SOL, BTC, ENS, and LTC. This strategic bet during a market dip paid off with a $29.76 million profit.

Hyperliquid’s Rapid Rise

Launched on January 6, Hyperliquid supports the Hyperfy metaverse and gaming platform through its HYPE token. The platform has seen exponential growth, with trading volumes hitting record highs. Between May 11 and 18, Hyperliquid processed $78.67 billion in trading volume—its highest weekly figure. On May 21, the platform recorded a daily peak of $17.73 billion. In total, the platform has facilitated over $1.15 trillion in trades, according to DefiLlama.

The platform’s growth is also evident in its rising open interest, which recently surpassed $10.1 billion. The amount of USDC locked reached $3.5 billion, and fee generation has been strong, with $5.6 million in just one day and $22 million over a week.

Strong Buyer Activity Supports Price Surge

HYPE has risen more than 50% this month, backed by solid trading volumes and increasing buyer interest. On May 26, daily volumes crossed $460 million. Whale activity has intensified, with three large buyers spending over $5 million on HYPE in a single day, suggesting continued bullish sentiment around the token.