HYPE (Hyperliquid) rose 6.05% in 24 hours.

Gate News Bot news, August 25, according to CoinMarketCap data, HYPE (Hyperliquid) is currently priced at $47.06, with a rise of 6.05% in the last 24 hours, reaching a high of $47.23 and a low of $40.43, with a 24-hour volume of $246 million. The current market capitalization is approximately $15.716 billion, an increase of $896 million from yesterday.

Hyperliquid is a blockchain platform designed to integrate all financial businesses. HYPE, as its flagship application, is a decentralized exchange characterized by low fees, zero gas fees, up to 40x leverage, and a fully on-chain order book. The platform has a block time of 0.07 seconds and a maximum TPS of 200,000, and currently has 675,500 users.

HYPE recent important news:

1️⃣ Well-known investors and institutions favor HYPE Mike Novogratz, the founder and CEO of Galaxy Digital, publicly stated that he holds a long position in HYPE tokens. At the same time, "Brother Ma Ji" Huang Li Cheng is leveraging 10 times to long HYPE, holding 100,000 tokens worth approximately $4.41 million. The participation of these well-known investors shows the market's confidence in HYPE, which may have driven its price rise.

2️⃣ The trading activity on the Hyperliquid platform has significantly increased Multiple large traders have conducted large-scale leveraged trading on the Hyperliquid platform. For example, one trader deposited 5.5 million USDC and established high-leverage positions on multiple cryptocurrencies, while another trader deposited 6.5 million USDC and went long on Bitcoin with 20x leverage. These activities reflect that the platform's liquidity and volume are rising rapidly.

3️⃣ Hyperliquid Protocol revenue significantly rises In the past 24 hours, Hyperliquid's protocol revenue reached $6.11 million, ranking third among all DeFi protocols, just behind Tether and Circle. This significant rise in revenue highlights the platform's profitability and user activity, which could become an important factor in driving the value of the HYPE token up.

From a technical perspective, the HYPE token has recently broken through previous resistance levels, showing strong pump momentum. However, investors still need to closely monitor the overall trends of the cryptocurrency market and the subsequent developments of the Hyperliquid platform.

This message is not intended as investment advice; investors should be aware of market volatility risks.