Hyperliquid Hits $29 Billion Volume as HYPE Rises 19% to $48.57

Hyperliquid has surged to new milestones in recent weeks, with its native token HYPE nearing an all-time high and demonstrating robust trading activity. On August 15, the platform reported $29 billion in 24-hour trading volume and $7.7 million in fees, marking new all-time highs for both metrics [1]. The HYPE token has risen 19% over the past week, reaching $48.57 and closing in on its July 14 peak of $49.75, just 1.1% away [1].

The growth in volume and fees has been mirrored by a rise in institutional interest and liquidity. According to DefiLlama, Hyperliquid’s total value locked (TVL) increased to $610 million in late July from around $460 million in mid-July [1]. In July alone, monthly USD inflows jumped from $21.35 million in June to $349.27 million [1]. This surge has been partly driven by strategic partnerships, including Circle’s launch of native USD Coin (USDC) and CCTP V2 on Hyperliquid on July 31, which has improved on-chain liquidity and cross-chain capabilities [1]. Institutional adoption also picked up, with Anchorage Digital Bank announcing on August 13 that it would offer custody services for HYPE on HyperEVM [1].

Technical indicators for HYPE show strong bullish momentum. All key moving averages, from the 200-day simple moving average (SMA) to the 10-day exponential moving average (EMA), are in buy territory. The relative strength index (RSI) sits at 63, indicating neutral conditions with room for further upside before entering overbought territory. The moving average convergence divergence (MACD) is positive, and the stochastic oscillator at 87.81 suggests ongoing buyer interest. Bollinger Bands are narrowing, with price pressing against the upper band, a pattern often seen before a breakout [1]. Analysts suggest that a close above $49.75 could target $52 as intermediate resistance and $55 as a potential upward goal [1].

Despite the bullish trends, HYPE has experienced some volatility. On August 1, trading volume dropped 44%, and the token price fell 17% amid broader market uncertainty [6]. However, the platform’s daily fees reached $4.7 million, and total deposits hit an all-time high of $121 billion [7]. HYPE reached $48.82 on July 27, supported by strong whale holding structures [5]. Some analysts have suggested that with asset under management (AUM) surpassing $6.2 billion, HYPE could be on the path to an all-time high [8].

The HYPE token’s recent performance has also been influenced by broader market sentiment and key traders. On August 13, HYPE surged 7.9% to $46.67 following a spike in trading volume [9]. This momentum appears to be partly driven by the expertise of former Wall Street engineers involved in the Hyperliquid project [9].

Hyperliquid’s trajectory reflects the growing momentum in decentralized exchanges (DEXs) and their ability to capture a significant share of trading activity. While HYPE has experienced temporary pullbacks, its fundamental metrics—including trading volume, fees, and AUM—indicate a strong underlying growth story [1].

Sources:

[1] Crypto - [https://crypto.news/hyperliquid-all-time-high-volume-fees-hype-rally-2025/](https://crypto.news/hyperliquid-all-time-high-volume-fees-hype-rally-2025/)

[6] AInvest - [https://www.ainvest.com/news/major-hyperliquid-traders-lose-millions-crypto-volatility-2508/](https://www.ainvest.com/news/major-hyperliquid-traders-lose-millions-crypto-volatility-2508/)

[7] FinanceFeeds - [https://financefeeds.com/hyperliquid-surpasses-6b-aum-hits-record-tvl/](https://financefeeds.com/hyperliquid-surpasses-6b-aum-hits-record-tvl/)

[8] Coin - [https://www.coingabbar.com/en/crypto-currency-news/hyperliquid-price-analysis-aum-record-fuels-hype-ath?srsltid=AfmBOopG5BC0N7ryRWtwWNey9-x_9Wk09LwU9UdEblYXc62sAlqtpSvQ](https://www.coingabbar.com/en/crypto-currency-news/hyperliquid-price-analysis-aum-record-fuels-hype-ath?srsltid=AfmBOopG5BC0N7ryRWtwWNey9-x_9Wk09LwU9UdEblYXc62sAlqtpSvQ)

[9] TheTradable - [https://thetradable.com/crypto/exwall-street-engineers-power-hyperliquid-hype-price-to-4667-as-dex-revolution-unfolds-ig--a](https://thetradable.com/crypto/exwall-street-engineers-power-hyperliquid-hype-price-to-4667-as-dex-revolution-unfolds-ig--a)