The native hyperlichid tab (Advertising hype) It increased to a new height of all time on Early Wednesday, continuing its meteoric climb this year, since the decentralized exchange better known to life sentence in the chain has attracted record activities.
The Token broke the $ 50 mark for the first time, winning around 8% in the last 24 hours. Hype has now increased 430% since its April Nadir and more than 15 times since it began to quote at the end of November to around $ 3.
The rally has been fed by the record negotiation activity throughout the exchange and its automated repurchase mechanism, which constantly absorbs market tokens and reduces circulating supply.
Read more: Hyperliquid now dominates the derivatives defi, processing $ 30b a day
Commercial boom
The decentralized exchange registered more than $ 357 billion in volume of derivatives in August, according to Defillama data, compared to $ 319 billion in July and almost ten times more than a year ago. The spot trade volumes also established a record, exceeding $ 3 billion for the week ending on August 24, according to blockworks data.
These flows translate into unexpected gain for the protocol. Hyperliquid reserved $ 105 million in negotiation rates during August, the highest this year, according to defrite data.
A large part of these profits are channeled directly to the purchase of exaggeration in the market through the Hyperliquid Assistance Fund. The installation is an automated mechanism in the chain that buys back tokens in the open market, creating sustained purchase pressure for advertising hype and effectively reducing circulating supply.
Since its launch in January, the fund holdings fired from 3 million tokens to 29.8 million exaggeration, which are now worth more than $ 1.5 billion, feeding the Token demonstration.
In the front of the news, the custodian of digital assets, Bitgo, added support on Tuesday for the Hypevm network, which supports the hyperlylic ecosystem, unlocking institutional access to the pump and related applications.
Analysts marks risks in the midst of solid foundations
In a recent research note, bytetree analysts Shehriyar Ali and Charlie Morris described Hyperliquid as a “power” that has become the largest place of future decentralized perpetuals.
“After all, hyperlichid is among the most convincing protocols in Defi today,” they wrote. “Its strong foundations, generation of record rates and dominant market share make it impossible to ignore.”
Despite the upward foundations, the report also marked concerns about the assessment of the Token. Hype currently quotes a fully diluted assessment (FDV) of more than $ 50 billion, with only approximately the third place of the offer in circulation with a market capitalization of 16.8 billion.
Token unlocks scheduled from November could also introduce sales pressure, potentially testing the strength of demand, the report said.
“Although Token has already seen a strong advance in recent months, its robust activity in the chain continues to support its assessment,” analysts said.
Read more: XPL Futures on Hyperliquid See $ 130 million eliminated in front of the plasma token launch
