Hyperliquid has become one of the most talked about projects in crypto over the past year. Many traders now see it as a major force in on chain trading. Its rise has been fast and unusual. The project runs a decentralised exchange built on its own chain and focuses mainly on perpetual futures trading.
The Hyperliquid token called HYPE launched near the end of twenty twenty four. Soon after launch it entered the top group of crypto assets by market value. One reason for this attention was its very large airdrop. A huge share of tokens was given directly to early users instead of investors. This move helped create early loyalty and strong user growth.
Hyperliquid was founded by Jeff Yan who has a strong background in traditional trading. The team made a clear choice to avoid venture funding. Development was self funded and tokens were shared with users who helped grow the platform. This approach stood out in a market where many projects rely on large backers.
The airdrop itself was historic. Over three hundred million tokens were given to around ninety four thousand users. At peak prices this distribution was worth over ten billion dollars. Since then the platform has processed close to three trillion dollars in trading volume. It now holds a leading share of users in the decentralised futures space.
Much of this success comes from speed and design. Hyperliquid runs on its own chain which allows fast trades and smooth execution. Traders do not need to wait for slow confirmations. This makes it feel closer to centralised platforms while staying on chain.
From a price view HYPE has gone through a deep pullback. The token dropped more than sixty percent from its highest level. After this drop it moved into a price zone where markets often slow down and try to find balance. In past cycles this area has acted as a base before trend changes.
Right now price is sitting near a key level that has acted as both support and resistance before. Holding above this zone could help price stabilise. A strong weekly close would suggest buyers are stepping back in. If price pulls back again there is another lower zone that could offer support.
On shorter time frames the picture becomes clearer. The current price area lines up with short term trend lines and averages. This makes it an important level to watch. If buyers defend it the token could start building a base. If not price could test lower levels again before finding strength.
What makes Hyperliquid different is not only price action. It is the story behind it. A platform built without venture capital. A token launched through users not funds. And real usage shown through high volume and active traders.
This does not remove risk. Like all crypto assets HYPE can see sharp moves both up and down. Market mood matters and leverage can increase swings. Still Hyperliquid has already proven that strong use can drive real growth.
In simple terms Hyperliquid is a fast on chain trading platform that gained trust through use not hype. Its large volume and active users show real demand. As long as traders keep using the platform it will remain a key name in crypto trading going forward.
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