13-7-2025 – Decentralized perpetuals exchange Hyperliquid has achieved a new milestone with over $10.6 billion in open interest, coinciding with its native HYPE token reaching a fresh all-time high of $47. The platform’s growth marks a significant development in the DeFi derivatives landscape.
The record-breaking open interest figure represents unprecedented trading activity on the platform, with data from Coinalyze showing Binance leading external open interest at $393 million and Bybit following with $122 million. Hyperliquid’s order-book-based system has attracted both retail and institutional traders seeking efficient derivatives trading outside traditional centralized exchanges. The platform’s rapid growth reflects increasing demand for decentralized trading solutions as market participants seek alternatives to centralized counterparts.
HYPE’s price surge to $47 represents a daily gain of over 3% and weekly advance of more than 30%, pushing the token closer to the top 10 cryptocurrency rankings by market capitalization. The rally was amplified by HYPE’s recent listing on Bybit’s spot market, expanding accessibility for both retail and institutional investors. Trading community speculation now centers on whether the token can reach the $100 milestone as adoption continues.
