Why Is Hyperliquid (HYPE) Price Up 10% Today?

As the broader crypto market consolidates, Hyperliquid HYPE $36.11 24h volatility: 7.2% Market cap: $12.06 B Vol. 24h: $294.73 M price has increased by 9.82% today, moving all the way to $36.23, with daily trading volumes surging 76% to $319 million. Recent HYPE whale activity, Binance.US listing, and revenue growth have together contributed to this rally.

Hyperliquid Price Shoots amid Binance.US Listing, Revenue Growth

Binance listings traditionally have a positive impact on prices. Now, Binance.US has officially revealed plans to list Hyperliquid (HYPE) on its platform. The announcement, shared on the X platform, teased the launch of spot trading for the HYPE token, leading to a strong upside in Hyperliquid price. This development marks another step forward for Hyperliquid as it continues to gain traction in the decentralized finance (DeFi) space.

The $HYPE is real.

Spot trading for @HyperliquidX is coming soon to https://t.co/AZwoBOh0gq. Follow us to get notified when our new listing goes live. pic.twitter.com/CrpenFv2uh

— Binance.US 🇺🇸 (@BinanceUS) June 2, 2025

Decentralized exchange Hyperliquid has gained massive appreciation for swiftly handling billion-dollar Bitcoin BTC $105 223 24h volatility: 0.2% Market cap: $2.09 T Vol. 24h: $27.52 B bets from crypto trader James Wynn in recent weeks. As a result, the DEX revenue jumped significantly, surpassing top market players like Ethereum ETH $2 610 24h volatility: 4.1% Market cap: $315.13 B Vol. 24h: $17.92 B , Solana SOL $159.8 24h volatility: 2.6% Market cap: $83.56 B Vol. 24h: $3.80 B , etc.

Hyperliquid has set a new milestone by achieving its highest-ever monthly trading volume in May 2025. The decentralized perpetual exchange solidified its market dominance, capturing an impressive 74.97% of the total volume across all decentralized perpetual platforms. This underscores Hyperliquid’s growing influence in the DeFi sector.

Hyperliquid dominated the Perp DEX space in May, hitting a monthly all-time high and capturing 74.97% of the total volume. pic.twitter.com/osuUmiXLej

— ToreroRomero (@Torero_Romero) June 2, 2025

HYPE Whale Activity on the Rise

Spot On Chain reported that three hours ago, a crypto whale executed a significant buy of 110,824 $HYPE tokens for $3.99 million at an average price of $36.

The purchase was followed by a leveraged long position with 4x leverage, signaling strong confidence in the token’s performance. The whale, known for previous activity on Hyperliquid, has amassed $361,000 in all-time profits on the platform.

Furthermore, the CoinGlass data shows that the HYPE futures open interest is up 13% to more than $1.41 billion, with 24-hour short liquidations hitting $1.1 million. If the daily trading volume continues to support, Hyperliquid price could soon shoots past its all-time high of $40, and enter a price discovery zone.

Can HYPE Price Rally to $105?

Popular analyst daz.hl shared his analysis highlighting the financial metrics for Hyperliquid. With a total market cap of $12 billion, 7.1% of which is held by the Asset Fund (AF) and excluded from circulation, Hyperliquid’s adjusted market cap stands at $11 billion.

Since the introduction of a new fee structure last month, the platform has consistently generated $2.4 million in daily revenue, equating to approximately $900 million in annualized revenue.

Hyperliquid math;

$12Billion market cap
7.1% is owned by the AF (will never touch market)

= $11Billion market cap

since the new fee structure was introduced a month ago, HL has averaged $2.4M daily revenue (excluding HLP & HyperEVM)

Annualized, that's ~$900M revenue

Which… pic.twitter.com/tYAaT7rWPu

— daz.hl (@MetamateDaz) June 3, 2025

This positions HYPE at a price-to-earnings (P/E) ratio of 12, which is substantially lower than the S&P 500’s current average P/E of 28 and the tech sector’s average of 35. By these standards, analysts estimate HYPE fair value to range between $84 and $105, significantly above its current trading price, noted the analyst.

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