What Drove Hyperliquid to Its New All-Time High?

The native token of the decentralized exchange Hyperliquid, HYPE, hit a historic high of $38 on May 25, drawing massive attention from the crypto community. Fueling this sharp rally was a surprising move by whale trader James Wynn, also known as “moonpig.”

What Drove Hyperliquid To Its New All Time High

Whale Trader Flips $1B Bet, Shakes Up the Market

James Wynn made headlines after opening a $1 billion short position on Bitcoin with 40x leverage, risking nearly his entire $50 million wallet in a cross-margin trade. What made this move even more dramatic was that just hours earlier, he had closed a $1.2 billion long position on BTC, taking a $17.5 million loss after wrongly predicting that Bitcoin would reach $110,000.

Hyperliquid Data
Hyperliquid Data

Wynn’s short entry at an average price of $107,077 quickly paid off, reportedly netting him around $3 million as BTC dipped slightly. Despite the earlier loss, Wynn’s total profit on Hyperliquid still stands at over $40 million, showing the massive scale and impact of his trades.

HYPE Rallies Amid FOMO and Whale Moves

Alongside Wynn’s high-stakes actions, HYPE surged nearly 9% in just 24 hours, reaching close to its all-time high of $39. At the same time, its market cap soared past $13 billion — an impressive 113% increase over the past month.

According to CoinGlass, open interest on Hyperliquid has also reached record levels, surpassing $1.3 billion. This spike reflects strong investor interest and confidence in further price gains, even as the token trades near peak levels.

Hyperliquid Price Chart
Hyperliquid Price Chart

The surge in trading volume and on-chain activity signals growing user trust in Hyperliquid’s platform, especially given its ability to handle billion-dollar positions like Wynn’s. These factors further solidify its position as a key player in the decentralized finance (DeFi) ecosystem.

Social Media Buzz Adds to the Momentum

Hyperliquid’s rise isn’t just happening on the charts — it’s going viral online too. According to LunarCrush, social media engagement for HYPE has exploded in the past month, with 25.6 million interactions, over 21,000 mentions, and content from 5,600 unique creators.

This wave of social attention, combined with record-breaking trades and rising open interest, paints the picture of a rapidly growing ecosystem. As traders like Wynn make billion-dollar bets and HYPE continues to climb, Hyperliquid is emerging as a major force in on-chain derivatives trading.

The big question now: can this bullish momentum continue, or is a correction around the corner?

Love

0.0/5

Love

Latest

Binance.us Accused Of Political Favoritism After Listing Trump Family’s Usd1 Token

News | Editor Choice | Policy & Regulations

Binance.US Accused of Political Favoritism After Listing Trump Family’s USD1 Token

Binance.US is facing a wave of fierce criticism after listing the Trump family’s USD1 stablecoin, just a week after Donald Trump’s controversial pardon of Changpeng Zhao — a move many see as a “political favor” between the White House and the crypto world.

Spacex Moves $31 Million In Bitcoin, What Is Elon Musk Planning

News | Bitcoin | Editor Choice

SpaceX Moves $31 Million in Bitcoin, What Is Elon Musk Planning?

SpaceX’s sudden $31 million Bitcoin transfer within just one week has sent shockwaves through the market, sparking speculation that Elon Musk may be preparing for a mysterious strategic move.

21shares Files For Hype Etf, While Bitwise’s Solana Etf Records

News | Altcoin | Editor Choice

21Shares Files for HYPE ETF, While Bitwise’s Solana ETF Records

The crypto ETF market is heating up as 21Shares and Bitwise roll out new products, signaling Wall Street’s growing interest in altcoins.

Bitcoin Eyes A Hopeful November Amid Fed Division On December Rate Cut

News | Bitcoin | Editor Choice

Bitcoin Eyes a Hopeful November Amid Fed Division on December Rate Cut

Following the Federal Reserve’s widely expected rate cut, the crypto market has yet to show signs of recovery as internal divisions over a potential December easing weigh on sentiment, making Bitcoin’s short-term outlook more cautious than ever.

Ethereum’s Key Changes After The Fusaka Upgrade

News | Altcoin | Editor Choice

Ethereum’s Key Changes After the Fusaka Upgrade

The Fusaka upgrade marks a pivotal step in Ethereum’s journey toward large-scale scalability, promising faster transaction speeds, enhanced security, and laying the foundation for the next explosive phase of the world’s leading blockchain.

Screenshot 2025 10 20 091338