HYPERLIQUID ($HYPE ) — Market & On-Chain Research | November 12, 2026
1. Live Market Overview
- Price: ~$71.64
- 24H Change: -1.25%
- 7D Change: -6.53%
- 24H Volume: ~$901.76M
- Market Cap: ~$18.10B
- Market Ranking: #9
- Circulating Supply: ~252.90M HYPE (CoinMarketCap)
- Maximum Supply: ~950M–1B HYPE, depending on tracker methodology.
- Previous ATH: ~$97.98.
2. ETF Activity
US-listed HYPE spot ETFs recorded approximately $1.7M in net outflows on November 11 (two of three funds reported). Combined net assets stood near $350M, with cumulative net inflows around $290M.
3. On-Chain Metrics
According to DefiLlama:
- Hyperliquid L1 TVL: ~$2.315B.
- Protocol-wide TVL: ~$7.711B.
- Stablecoin Market Cap: ~$6.398B.
- Active Addresses (24H): 15,819.
- Transactions (24H): 377,510.
- Stablecoin supply declined 4.49% over seven days.
4. Recent Developments
HIP-4 outcome markets have launched on mainnet in a limited initial release, introducing fully collateralized event-based contracts. Meanwhile, HIP-3 expanded to 171 active builder-deployed markets across 10 venues, with approximately $5.2B in 24-hour volume.
5. Market Context
HYPE remains a major DeFi infrastructure token, supported by its perpetual markets, spot ecosystem, staking mechanism and expanding product infrastructure. However, its seven-day decline, ETF outflows and reduced stablecoin supply reflect changing market conditions. Network activity and liquidity remain important indicators to monitor.
Data as of November 12, 2026. Figures are approximate and vary by data provider. DYOR.
1. Live Market Overview
- Price: ~$71.64
- 24H Change: -1.25%
- 7D Change: -6.53%
- 24H Volume: ~$901.76M
- Market Cap: ~$18.10B
- Market Ranking: #9
- Circulating Supply: ~252.90M HYPE (CoinMarketCap)
- Maximum Supply: ~950M–1B HYPE, depending on tracker methodology.
- Previous ATH: ~$97.98.
2. ETF Activity
US-listed HYPE spot ETFs recorded approximately $1.7M in net outflows on November 11 (two of three funds reported). Combined net assets stood near $350M, with cumulative net inflows around $290M.
3. On-Chain Metrics
According to DefiLlama:
- Hyperliquid L1 TVL: ~$2.315B.
- Protocol-wide TVL: ~$7.711B.
- Stablecoin Market Cap: ~$6.398B.
- Active Addresses (24H): 15,819.
- Transactions (24H): 377,510.
- Stablecoin supply declined 4.49% over seven days.
4. Recent Developments
HIP-4 outcome markets have launched on mainnet in a limited initial release, introducing fully collateralized event-based contracts. Meanwhile, HIP-3 expanded to 171 active builder-deployed markets across 10 venues, with approximately $5.2B in 24-hour volume.
5. Market Context
HYPE remains a major DeFi infrastructure token, supported by its perpetual markets, spot ecosystem, staking mechanism and expanding product infrastructure. However, its seven-day decline, ETF outflows and reduced stablecoin supply reflect changing market conditions. Network activity and liquidity remain important indicators to monitor.
Data as of November 12, 2026. Figures are approximate and vary by data provider. DYOR.