Purr (PURR) Surges 27% as Hyperliquid Hits New All-Time Highs Across Key Metrics

Purr (PURR) has seen a remarkable price increase in the last 24 hours. According to data from CoinGecko, the token is trading at around $0.19. This indicates a price surge of over 27% at the time of writing.

Purr token’s significant price uptick coincides with Hyperliquid’s new all-time highs. For context, PURR is the inaugural native token on Hyperliquid layer-1 blockchain. It was launched with no sale and planned utility. The token is designed for users to engage with the ecosystem and benefit from its growth.

PURR has no specific launch date because it was not announced until its supply was fully distributed. The token has a maximum total supply of one billion. Notably, 500 million of the tokens were distributed proportionally to Hyperliquid’s point holders.

As on-chain data shows, PURR has been performing well in the crypto market. The token’s price history indicates that it is currently 225.8% above its all-time low price of $0.06. The asset has also been about 29% high in the last seven days.

Hyperliquid Hits New All-Time Highs

In an X post, Hyperliquid revealed that it hit multiple all-time highs in key metrics earlier on Thursday. The project hit an all-time high of $8.9 billion in open interest, signaling strong trader engagement and confidence. Open interest measures market participation and liquidity, indicating high activity in a crypto project.

Last week, CoinTab reported that Hyperliquid’s open interest jumped by over 13% to a substantial figure of $936 million. With the recent upward trajectory, it is evident that protocol is continuously capturing market interest. The latest record underscores its rapid ascent as a major contender in the competitive perpetual trading landscape.

Moreover, other on-chain metrics indicate Hyperliquid’s growing dominance in the market. For example, the protocol reached an all-time high of $5.4 million in 24-hour transaction fees and $3.2 billion in USDC total value locked (TVL). The USDC TVL feat indicates that users deposited a massive amount of liquidity into the decentralized exchange (DEX) likely for trading.

The platform highlighted that Hypurrscan and HyperDash contributed to its recent feats. PURR’s recent market value spike is most likely a reaction to this acknowledgment.

Hyperliquid’s Market Outlook

Following Hyperliquid’s upward trajectory, many analysts have shared their bullish outlook for the asset. Former BitMEX CEO Arthur Hayes recently predicted that Hyperliquid’s HYPE token could reach $100. Hayes made this bold forecast in response to a trader’s strategic trading skill.

Earlier today, crypto analyst Altcoin Sherpa referred to HYPE as “an amazing coin” and “one of the projects in crypto.” Similarly, Luciano, a Bitcoin analyst, expressed bullish sentiments toward HYPE’s performance. The on-chain expert believes the asset could outperform Sui (SUI) and Chainlink (LINK) regarding market valuation in Q2 2025. These forecasts have positioned Hyperliquid firmly in the spotlight.

Looking at on-chain data, HYPE is trading at $32.76, which is 759% higher than the all-time low of $3.81. It has increased by 17.8% in the last 24 hours, with a market cap of $10 billion. With Bitcoin attaining new all-time highs, investors are paying close attention to how HYPE will perform in the coming days.

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