$HYPE (Hyperliquid) — Market & Fundamental Research Update |
Hyperliquid is a Layer-1 blockchain ecosystem focused on decentralized financial markets, with HYPE serving as its native token.
Current Market Data: HYPE is trading around $72.84, up approximately 2.33% over 24 hours, while its 7-day performance remains negative at 7.16%. Its market capitalization is approximately $18.42 billion, ranking #9. Circulating supply stands near 252.81 million HYPE, against a maximum supply of approximately 950 million. 24-hour spot volume is around $248.35 million, with $2.63 billion in perpetual futures volume. CoinGlass +1
ETF Activity: Three US spot HYPE ETFs are currently tracked. On November 12, reported net flows were $0, following a $1.7 million outflow on November 11. Combined ETF assets were approximately $340 million, with cumulative net inflows of $290 million and 2026 year-to-date inflows of $288.6 million. Crypto ETF
On-Chain Fundamentals: As of November 13, Hyperliquid L1 recorded approximately $2.358 billion in DeFi TVL, $6.379 billion in stablecoin supply, 13,451 active addresses and 356,028 transactions over 24 hours. DefiLlama
Recent Developments: On November 13, reports highlighted Q3 open interest reaching a record $16.8 billion, up nearly 80% from June. Quarterly protocol revenue increased 21.7% to approximately $191 million, although it remained 36.5% below the previous year's level. The Block
Overall Context: HYPE is showing a positive daily change despite its negative weekly performance. Network activity, institutional ETF exposure, protocol revenue and ecosystem development remain important indicators of Hyperliquid's current fundamentals.
Hyperliquid is a Layer-1 blockchain ecosystem focused on decentralized financial markets, with HYPE serving as its native token.
Current Market Data: HYPE is trading around $72.84, up approximately 2.33% over 24 hours, while its 7-day performance remains negative at 7.16%. Its market capitalization is approximately $18.42 billion, ranking #9. Circulating supply stands near 252.81 million HYPE, against a maximum supply of approximately 950 million. 24-hour spot volume is around $248.35 million, with $2.63 billion in perpetual futures volume. CoinGlass +1
ETF Activity: Three US spot HYPE ETFs are currently tracked. On November 12, reported net flows were $0, following a $1.7 million outflow on November 11. Combined ETF assets were approximately $340 million, with cumulative net inflows of $290 million and 2026 year-to-date inflows of $288.6 million. Crypto ETF
On-Chain Fundamentals: As of November 13, Hyperliquid L1 recorded approximately $2.358 billion in DeFi TVL, $6.379 billion in stablecoin supply, 13,451 active addresses and 356,028 transactions over 24 hours. DefiLlama
Recent Developments: On November 13, reports highlighted Q3 open interest reaching a record $16.8 billion, up nearly 80% from June. Quarterly protocol revenue increased 21.7% to approximately $191 million, although it remained 36.5% below the previous year's level. The Block
Overall Context: HYPE is showing a positive daily change despite its negative weekly performance. Network activity, institutional ETF exposure, protocol revenue and ecosystem development remain important indicators of Hyperliquid's current fundamentals.
