Hyperliquid Dominates Perpetual Futures Market with 10.54% Binance Share

HYPE token is poised to reach a new all-time high of $50 as Hyperliquid continues to dominate the perpetual futures market with an impressive $1.571 trillion in annual trading volume. This dominance has allowed Hyperliquid to capture 10.54% of Binance’s market share, a significant increase from 9.76% in April. The platform’s success is further highlighted by its $214 billion June trading volume, which surpasses the combined $140 billion from all other on-chain perpetual platforms.

Hyperliquid’s growth is not only evident in its trading volume but also in its revenue generation. The platform has generated $56 million in monthly revenue and $310 million in cumulative revenue. Additionally, 97% of protocol fee revenue is reinvested into HYPE buybacks, aligning token incentives with platform growth. This strategic decision has resulted in $910 million in buybacks over the past six months.

The platform’s technical superiority is evident through its sub-second finality capabilities and support for over 100,000 orders per second. This performance enables fully on-chain order book operations that match the speed of centralized exchanges while maintaining the benefits of transparency. Hyperliquid now processes over 70% of DEX perpetual volume and ranks sixth among all DEXs by daily volume at over $420 million, while capturing 6.84% of global perpetual flows in May.

HYPE’s daily chart reveals an extraordinary bullish setup, with the token successfully establishing new all-time highs at $44.86 while trading in blue-sky territory. The Elliott Wave structure indicates the completion of waves A through D, with potential development of final wave E, suggesting continued upward momentum. The transformation of major resistance at $27.81 into robust support represents classic “resistance turned support” behavior characteristic of strong trending markets. Moreover, the RSI readings at 58.14 indicate healthy bullish territory without overbought extremes, which provides room for further appreciation.

The volume analysis also shows sustained institutional interest with 123.15K volume supporting recent breakouts. The parabolic advance from the $10-12 accumulation zones to current levels has already proven the explosive momentum that could target the $60-80 zones if sustained. Similarly, doing a comparative valuation analysis positions HYPE below regression lines when plotting market capitalization versus open interest against peer protocols. The model suggests significant undervaluation relative to operational metrics, with an R-squared value of 0.867 indicating strong correlation credibility.

Institutional adoption is accelerating as the Nasdaq-listed Lion Group announced plans to hold $600 million in reserves with HYPE as its primary treasury asset. This move further solidifies HYPE’s position in the market and underscores the growing confidence in the platform’s potential. With strong fundamentals, technical breakout confirmation, and comparative undervaluation, HYPE is well set to appreciate further. The token can initially target $50-55, with extension targets around $60-65 if the projected momentum can be sustained for an extended period.