- Hyperliquid’s market cap has jumped to $11.63B, overtaking Sui.
- While major tokens like Bitcoin and Ethereum dipped, HYPE gained 4.1% in a red week.
- Over $37 million in whale investments have poured into HYPE in the past few days.
Hyperliquid (HYPE) is quickly climbing ranks in the crypto world. Once a little-known project sitting outside the top 50, it has skyrocketed into the top 11 cryptocurrencies by market cap, overtaking major players like Chainlink, Avalanche, Toncoin, and most recently, Sui.
In a market that’s been mostly in the red, Hyperliquid is standing out and while Bitcoin, Ethereum, and Solana saw losses last week, HYPE climbed 4.1%. Meanwhile, SUI took a sharp hit, falling nearly 12% this week and now down 23% for the year.
Top Profitability and Soaring Volume Signal Network Strength
The numbers behind Hyperliquid’s growth are impressive. Hyperliquid’s market cap now sits at $11.63 billion, pushing past Sui’s $10.26 billion.
Earlier in May 2025, Hyperliquid recorded a staggering $244 billion in trading volume. It also generated $64 million in revenue, the highest among all blockchain platforms for the third month in a row.
Related: Bitcoin Analysis: Corporate Treasuries Swell as On-Chain Activity Points Upward
Big Investors Are Jumping In
There is also growing interest from crypto whales. In the past 48 hours alone, one whale returned after two years and bought $4 million worth of HYPE tokens at $36 each.
Before this, eight other whales had already invested over $33 million in the token. This heavy buying from big players has boosted confidence in HYPE’s potential.
Smart Tokenomics Powering the Surge
One of the reasons behind Hyperliquid’s rise could be its clever tokenomics. Unlike many cryptocurrencies that struggle with inflation or insider token dumps, HYPE uses a deflationary model. A portion of the platform’s fees is used to buy back and burn HYPE tokens, reducing the total supply over time.
Another feature is that the entire token supply is reserved for the community. There are no large venture capital firms holding big chunks of the supply, which means there’s less risk of sudden sell-offs.
Hayes Believes in Hyperliquid’s Future
Even popular crypto investor Arthur Hayes has taken notice of HYPE.
Related: Here’s Why SUI Could Be The New Solana of This Cycle
He recently said that Hyperliquid could eventually reach Solana’s market cap and also predicted that HYPE token could reach a price of $100 in the future.
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