While the broader crypto market reeled from the effects of Donald Trump’s tariff announcement, Hyperliquid’s native token, HYPE, displayed remarkable stability. The token’s strong fundamentals and sustained market demand played key roles in mitigating the impact of the crash.

Hyperliquid overtakes Ethereum in seven-day revenues
According to DefiLlama, Hyperliquid recorded approximately $12.8million in protocol revenues over the past week, surpassing Ethereum’s $11.5m as of 3 February. This milestone highlights Hyperliquid’s rapid growth, driven largely by its dominance in the perpetual futures (‘perps’) market.
Unlike traditional futures, perps allow traders to hold positions indefinitely without an expiration date. Hyperliquid’s daily transaction volume reached around $470m, nearly doubling its figures from the start of the year.

While this is still significantly lower than Ethereum’s $4.7bn daily volume, Hyperliquid’s growth trajectory suggests increasing competitiveness, particularly as Ethereum faces revenue declines following its March Dencun upgrade, which slashed transaction fees by about 95%.
Record token burn amid market volatility
Hyperliquid conducted a notable burn of 2,700 HYPE tokens during the recent market downturn, marking its largest burn event since December 2024. Token burning reduces the circulating supply, which can help support price stability. This strategic move underscored Hyperliquid’s proactive approach to managing market fluctuations.
Despite periodic volatility, HYPE has maintained strong momentum. The token is currently trading at $26.31 with a market capitalization of $8.8bn, reflecting an 8% surge within a single day.
HYPE price prediction 2025
Ranked as the 19th-largest cryptocurrency, Hyperliquid’s strong fundamentals continue to bolster its native token. High trading volumes, significant whale activity, and active community engagement have helped HYPE weather recent market challenges.
Technical analysis overview
- RSI (21) – Oversold territory:
An RSI below 30 typically signals that an asset is oversold, potentially indicating a buying opportunity. With an RSI as low as 21, HYPE appears significantly oversold, suggesting a strong potential for a price rebound in the short term if market conditions improve. - ADX (-39%) – Strong downtrend:
A negative ADX at -39% points to a strong bearish trend, indicating that downward momentum has been dominant. However, extreme ADX values often precede trend reversals, especially when the asset is oversold. - ADR (-23%) – High volatility:
The negative ADR reflects recent heightened volatility, with price swings favoring the downside. This volatility can create both risks and opportunities depending on market sentiment shifts.
Key considerations for 2025 prediction:
- Market recovery potential: The current oversold conditions suggest a potential for a strong recovery if broader market sentiment shifts positively, particularly in crypto markets, which are highly reactive to macroeconomic factors and investor sentiment.
- Fundamental strength: Hyperliquid’s strong revenue model, growing DeFi presence, and recent ability to outperform Ethereum in weekly revenues indicate robust fundamentals that could drive long-term growth.
- Potential catalysts: Continued whale activity, influencer promotions, increased DeFi adoption, and further token burns could serve as bullish catalysts.
Price prediction for 2025:
- Bearish scenario: If bearish momentum continues without significant recovery catalysts, HYPE could drop to a support range between $15 to $18 in early 2025 before stabilizing.
- Neutral scenario: Assuming a gradual recovery with market stabilization, HYPE could trade between $30 to $40 by mid-2025, reflecting moderate growth aligned with revenue expansion and improved investor confidence.
- Bullish scenario: If Hyperliquid maintains strong fundamentals, experiences continued adoption, and benefits from a broader crypto market recovery, HYPE could reach or even surpass the projected fair value of $72, potentially touching $80 to $90 during peak bullish phases.
Final thoughts
While current technicals indicate short-term weakness, the combination of oversold conditions, strong fundamentals, and potential catalysts supports a positive long-term outlook. A gradual recovery is likely, with a bullish scenario targeting the $70+ range if favorable conditions persist through 2025.
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