Hyperliquid Defies Crypto Market Slump: What’s Driving Its Surge & Should You Buy Now?

Crypto markets are bleeding—yet Hyperliquid's chart screams green. While Bitcoin wobbles and altcoins crumble, this dark horse keeps galloping. Here's why.

The secret sauce? Institutional whales are stacking Hyperliquid like it's 2021 all over again. Its hybrid DEX model—combining CEX liquidity with DeFi's permissionless edge—is sucking in capital while competitors choke on regulatory dust.

But tread carefully. That 300% quarterly pump smells like FOMO season. Remember: what Wall Street giveth, it taketh away twice as fast during the next 'risk-off' tantrum.

Even as Bitcoin slipped below the $100,000 mark amid rising geopolitical tensions and market anxiety, not every token followed the same path. While most cryptocurrencies struggled to hold their ground, one project quietly stood out from the crowd. Hyperliquid’s native token, HYPE, has been holding strong and in a market drowning in red, it’s one of the few names flashing green.

Currently trading at $35.83, HYPE has climbed 4.6% in the last 24 hours. With a market cap of $11.8 billion and consistently strong trading volumes, the project seems to be defying the odds. Technical indicators show a mixed but promising picture. If HYPE manages to break past the $39 resistance level, it could open the door for another rally.

Whales Are Buying Big

One possible reason behind this spike is rising whale accumulation. Data from Lookonchain reveals that a newly created wallet (0xDc50) deposited $17.5 million USDC into the Hyperliquid platform over the past two days. The wallet used those funds to purchase 517,602 HYPE tokens, which have already grown in value to $18.31 million. Such a large and confident buy shows strong belief in HYPE’s potential.

A newly created wallet "0xDc50" deposited 17.5M $USDC to Hyperliquid and bought 517,602 $HYPE($18.31M now) at an average price of $33.8 over the past 2 days.https://t.co/r4miVTUtwH pic.twitter.com/Qf070BvuZp

Hyperliquid’s total value locked (TVL) also climbed sharply to $1.8 billion earlier this week, despite the volatile market. Hyperliquid leads all chains in gross profits for May and recently recorded over $9 billion in open interest, even surpassing Binance. Furthermore, USDC usage on Hyperliquid is booming, up 8.3% this week, far outpacing the industry’s 0.4% growth.

Even public companies like Inovia are now staking HYPE with their treasury. The strong performance sets a bullish tone for HYPE in the coming months. 

June and July Outlook

In June 2025, Hyperliquid is expected to stay bullish, with price targets ranging from $42 to $53. If market sentiment weakens, a short-term dip to around $30–$35 could occur. Analyst CryptoCurb notes $40 as the critical level to reclaim for bulls to regain control. Until then, HYPE may face sideways or bearish pressure.

$HYPE

hyperliquid has lost its 4hr ichi trend cloud for the first time since ~$15 $HYPE$HYPE needs to reclaim $40 for hopes of continuation.

cc @blknoiz06 4 hr ichi cloud-man. hyperliquid. pic.twitter.com/gn6xl61eUd

The outlook remains bullish for July. HYPE could climb past $45 if momentum continues and trading activity grows. However, key resistance zones could lead to minor pullbacks along the way. With strong fundamentals and a surging community, HYPE could realistically hit $100–$200 in the next altseason.