Hyperliquid DEX token gains 300% in 2 months: Is the HYPE justified?

HYPE is up 300%, and Hyperliquid leads the DEX perp market. But with a $38B valuation and just 21 validators, some question if the rise is sustainable.

Key takeaways:

HYPE has surged over 300% since April, driven by growing usage of the Hyperliquid exchange and rising investor interest.

Hyperliquid now leads the decentralized perpetuals market, processing over 70% of DEX perp volume.

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