Hyperliquid Surpasses Coinbase in Trading Volume, Signaling Shift in Crypto Trading
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 4h ago
Should l Buy HYPE?
- Volume Milestone: Hyperliquid achieved approximately $2.6 trillion in notional trading volume in 2025, nearly double Coinbase's $1.4 trillion, indicating a significant shift towards decentralized trading platforms that may redefine trader preferences.
- Rapid User Growth: The active user base of Hyperliquid surged from 300,000 to over 1.4 million, driven largely by word-of-mouth and product performance rather than heavy marketing, highlighting a notable improvement in user experience and market acceptance.
- Fee Structure and Token Buybacks: Fees collected on Hyperliquid are partially allocated for HYPE token buybacks and burns, a model that not only supports long-term interest in the ecosystem but also contributed to a 31.7% increase in HYPE's value by early 2026, attracting more traders.
- Intensifying Market Competition: While Hyperliquid has made significant strides in the decentralized derivatives market, competitors like Aster and Lighter are also expanding their product lines, and increasing regulatory scrutiny on on-chain trading activities suggests a more complex future market landscape.
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Technical Analysis for HYPE
Technical Sentiment Analysis for Hyperliquid (HYPE) As of , Hyperliquid (HYPE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for HYPE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, HYPE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Hyperliquid (HYPE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 17.76 | 23.12 | 27.706 | 33.066 | 37.652 | 43.012 | 47.598 |
| Fibonacci | 23.12 | 26.919 | 29.266 | 33.066 | 36.865 | 39.212 | 43.012 |
About HYPE
Hyperliquid represents a cutting-edge blockchain platform, specifically designed to enhance the efficiency and performance of decentralized finance (DeFi) applications. At its core, Hyperliquid introduces a novel Layer 1 (L1) blockchain that is meticulously engineered from the ground up to optimize performance and scalability. This optimization is largely attributed to its proprietary consensus mechanism, HyperBFT, which plays a pivotal role in ensuring rapid transaction finality and robust security measures.One of the standout features of Hyperliquid is its focus on decentralized perpetual exchange services. This platform facilitates perpetual futures trading directly on its native L1 blockchain, setting itself apart by eliminating gas fees for transactions. This approach not only reduces the cost barrier for participants but also significantly enhances transaction speed and efficiency.Hyperliquid's architecture boasts a fully on-chain order book, a rarity among decentralized exchanges (DEXs), which typically rely on off-chain order books to manage trades. This on-chain approach ensures greater transparency and security, as all transactions are verifiable on the blockchain.The development team behind Hyperliquid is composed of individuals with impressive backgrounds, including alumni from prestigious institutions such as Harvard, Caltech, and MIT, and professionals with experience in notable companies within the tech and financial sectors. This diverse and skilled team underscores the project's commitment to innovation and excellence.Notably, Hyperliquid is a self-funded initiative, emphasizing its independence and dedication to its vision without the influence of external capital. This autonomy allows for a focused development process, tailored to the needs and expectations of the DeFi community.In summary, Hyperliquid aims to revolutionize the DeFi space by offering a high-performance, cost-effective, and transparent platform for perpetual futures trading. Its unique combination of a custom L1 blockchain, zero gas fees, and a fully on-chain order book positions it as a promising player in the blockchain and cryptocurrency ecosystem. As with any investment in the crypto space, individuals should conduct thorough research to understand the risks and potential of the platform.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
