Have you ever watched a crypto token climb back from a dip and wondered if it’s about to skyrocket? That’s exactly what’s happening with Hyperliquid’s native token, HYPE, which has clawed its way back to $40 after a rollercoaster ride in June 2025. The decentralized exchange (DEX) space is buzzing, and Hyperliquid is stealing the spotlight with a surge in trading volume and renewed trader enthusiasm. Let’s unpack what’s driving this recovery, why it matters, and whether HYPE could be gearing up to smash its previous all-time high.
The Resurgence of Hyperliquid: A Closer Look
The crypto market is no stranger to volatility, but Hyperliquid’s recent performance feels like a breath of fresh air. After dipping to a monthly low of $32.62 on June 22, HYPE has bounced back, trading at $40.56 as of this writing. That’s a solid 7% gain in just 24 hours and an impressive 15% increase over the past week. What’s fueling this climb? For starters, the DEX market is heating up, and Hyperliquid is riding the wave with a surge in on-chain activity.
I’ve always found it fascinating how quickly sentiment can shift in crypto. One day, a token is languishing; the next, it’s the talk of the town. Hyperliquid’s recovery isn’t just a fluke—it’s backed by hard data. According to industry reports, the platform’s decentralized trading volume hit a staggering $11.44 billion in June 2025, a massive jump from April’s $4.86 billion. That’s more than double in just two months! It’s no wonder traders are taking notice.
Why DEX Volume Matters
Decentralized exchanges are the beating heart of the crypto ecosystem, offering traders a way to swap tokens without relying on centralized middlemen. Hyperliquid’s soaring trading volume signals growing trust in its platform. But what does this mean for HYPE? Higher DEX volume often correlates with increased liquidity and user adoption, both of which can drive token prices higher.
Rising DEX volume reflects a platform’s ability to attract users and sustain activity, often a precursor to price appreciation.
– Crypto market analyst
Hyperliquid’s total locked value (TLV) tells a similar story. From a modest $330 million in April, the platform’s TLV has skyrocketed to $1.8 billion. That’s a fivefold increase in just a few months! This kind of growth doesn’t happen in a vacuum—it’s a clear sign that traders and investors are betting big on Hyperliquid’s future.
Technical Signals: Is HYPE Ready to Break Out?
Let’s get a bit technical—don’t worry, I’ll keep it digestible. Hyperliquid’s price action is showing some promising signs, but it’s not quite in the clear yet. The relative strength index (RSI) is sitting at 60, which is trending upward but still in neutral territory. This suggests HYPE has room to run without being overbought, a good sign for sustained growth.
- 10-day momentum: A positive reading of 7.31, indicating bullish sentiment.
- Moving averages: The 10, 20, 30, 50, 100, and 200-day exponential and simple moving averages are all in buy territory, supporting the uptrend.
- Bollinger Bands: Tightening bands suggest a big price move could be coming—up or down.
That said, not every signal is screaming “buy.” The average directional index (ADX) and awesome oscillator are still neutral, meaning the trend hasn’t fully locked in. It’s like the market is holding its breath, waiting for the next catalyst. If DEX volumes keep climbing, though, we could see HYPE test its previous high of $45.57 soon.
What’s Driving the HYPE Surge?
So, what’s behind this rally? It’s not just traders jumping on the bandwagon. Several factors are converging to push HYPE higher:
- Increased Platform Usage: June’s $11.44 billion in trading volume shows Hyperliquid is becoming a go-to DEX for traders.
- Growing Total Locked Value: The jump to $1.8 billion in TLV reflects confidence in the platform’s security and potential.
- Market Sentiment: The broader crypto market is showing signs of stabilization, with major tokens like Bitcoin and Ethereum holding steady.
Perhaps the most intriguing aspect is how Hyperliquid’s growth mirrors broader trends in DeFi. Decentralized finance is no longer a niche—it’s a force reshaping how we think about money. Hyperliquid’s ability to capture this wave could position it as a leader in the space.
Can HYPE Hit a New All-Time High?
The million-dollar question: Can HYPE break its all-time high of $45.57? It’s only 11% away, so it’s not a stretch to imagine. A key level to watch is $41.50—if HYPE can break through with strong volume, it could pave the way for a retest of that peak. On the flip side, if it fails to hold above the $38–$39 range, we might see some profit-taking that could drag it back toward $35.
In my experience, crypto markets are as much about psychology as they are about numbers. If trader confidence continues to grow—and the data suggests it is—HYPE could ride this momentum to new heights. But markets are fickle, and a broader downturn could derail even the strongest rallies.
| Price Level | Significance | Potential Outcome |
| $41.50 | Resistance Zone | Breakout could target $45.57 |
| $38–$39 | Support Zone | Holding here maintains bullish trend |
| $35 | Next Support | Possible decline if sentiment shifts |
The Bigger Picture: Why Hyperliquid Matters
Hyperliquid’s rise isn’t just about one token’s price action—it’s a window into the future of decentralized finance. DEXs like Hyperliquid are challenging traditional financial systems by offering trustless trading and greater accessibility. As more users flock to these platforms, the demand for native tokens like HYPE is likely to grow.
Decentralized exchanges are rewriting the rules of finance, and platforms like Hyperliquid are at the forefront of this revolution.
– Blockchain researcher
Think of it like this: If centralized exchanges are the old-school banks, DEXs are the fintech startups shaking things up. Hyperliquid’s growth in trading volume and TLV suggests it’s carving out a significant niche. And with a market cap of over $13 billion, it’s clear the market is taking notice.
Risks to Watch
No crypto rally is without risks, and HYPE is no exception. The tightening of the Bollinger Bands suggests volatility is on the horizon, and not all technical indicators are fully bullish yet. Plus, the broader crypto market can be unpredictable—regulatory news or a sudden sell-off in major tokens like Bitcoin could spill over to HYPE.
Another thing to keep an eye on is trader behavior. Crypto markets are driven by sentiment, and a wave of profit-taking could halt HYPE’s momentum. If the $38 support level breaks, we might see a quick dip before the next leg up.
What’s Next for Hyperliquid?
Looking ahead, Hyperliquid’s trajectory depends on a few key factors. Continued growth in DEX volume could solidify its position as a top player in DeFi. If the platform keeps attracting users and capital, HYPE could not only hit its previous high but potentially push toward $50 or beyond.
But here’s where it gets interesting: Hyperliquid isn’t just a trading platform; it’s a bet on the future of decentralized systems. As more people embrace DeFi, tokens like HYPE could become the backbone of a new financial paradigm. Or, as I like to think, it’s like investing in the internet in the 1990s—risky, but the potential is massive.
Final Thoughts: Should You Jump In?
Hyperliquid’s resurgence is a compelling story, but it’s not a guaranteed win. The token’s recent gains, backed by surging DEX volume and strong technicals, make it one to watch. Yet, the crypto market is a wild ride, and timing is everything. If you’re thinking about diving in, keep an eye on that $41.50 resistance level and the broader market sentiment.
Personally, I find Hyperliquid’s story exciting because it’s more than just numbers—it’s about the evolution of finance. Whether HYPE hits a new all-time high or takes a breather, its rise reflects the growing power of decentralized systems. So, what do you think? Is HYPE poised for a breakout, or is this just another crypto tease? Only time will tell.
