Hyperliquid Sees Surge in Bridge deposits and Network Upgrades
Hyperliquid (HYPE) is making waves in the crypto market. It’s currently priced at $39.85, up 6% in the last 24 hours.The token has been trading between $35.50 and $41.02 over the past week. it’s now just 12% below it’s all-time high of $45.57, set on june 16.
The price hike coincides with a significant rise in capital inflows. According to Purrsec, Hyperliquid’s bridge deposits have jumped from $500 million in late 2024 to nearly $4 billion. This surge reflects growing user confidence and better capital efficiency.
Hyperliquid dominates decentralized perpetuals trading, with over 75% of the market share. In the last 30 days,it processed $220 billion in volume,six times more than its closest rival. Cumulative trading volume has crossed $1.1 trillion, with weekly activity between $50 billion and $75 billion.
Several updates are boosting Hyperliquid’s on-chain momentum. The upcoming CoreWriter will enable HyperEVM apps to interact directly with HyperCore, the high-performance trading engine.This could enhance speed and efficiency.
- HIP-3 proposes permissionless perpetual markets, allowing anyone who meets the staking threshold to list new assets.
- HyperEVM’s expansion is fostering third-party development. Integrations with Gelato and Stargate are underway, making the DeFi ecosystem more flexible.
Technically, HYPE shows signs of a potential breakout. The price is near the upper Bollinger Band, indicating upward pressure. The relative strength index at 56.97 suggests room for further gains. If HYPE breaks above the $41–$42 resistance, it could retest its all-time high near $45.
