Hyperliquid Smashes Through $20 Barrier as April Sees $200M Stablecoin Influx
DeFi’s latest liquidity surge sends Hyperliquid soaring—because nothing says ’bull market’ like stablecoins flooding in while TradFi bankers clutch their pearls.
The protocol’s native token breaches psychological resistance as yield-chasers pile into decentralized leverage plays. Just don’t ask where all that stablecoin liquidity originated—some mysteries are better left unsolved.
HYPE rises on expectations of new airdrop season
One of the main reasons for HYPE’s growth is the expectation of a new airdrop season to be announced in May. For now, there is no official communication from the team.
However, based on the Hyperliquid vesting schedule, 38.9% of the tokens are still available for community distribution. Around 37.4% of all HYPE are unlocked, potentially signaling new farming events.
They keep updating the UI. Sadly i’m not really a perp person.
Hyperliquid flywheel ♻️;
– The higher $HYPE goes, the bigger the 2nd airdrop
– The bigger the 2nd airdrop, more people buy $HYPE to farm
– More people buy $HYPE to farm, the higher $HYPE goes pic.twitter.com/hbEipZYb5S
— Victor.HL (@VictorTopDefiG) May 1, 2025
The Hyperliquid community is preparing for farming tasks, while the platform also draws in organic traffic. It expanded its available liquidity in the past month, based on increased trading demand.
In April, the DEX saw a gradual but ongoing inflow of USDC stablecoins. As a result, the available liquidity increased by $200M, from around $1.33B to over $1.53B in early May.
Hyperliquid surpassed all perpetual DEX protocols, with over $173B in trading volumes for the previous month. The DEX is down from January’s peak of $197B, but has retained most of its activity despite liquidations and aggressive whale traders.
Hyperliquid to decentralize the listing process
Hyperliquid continues to innovate, aiming to become the go-to hub not just for traders, but for creators and DeFi experts.
Currently, Hyperliquid is testing perpetual DEX pairs deployed by third-party developers. The feature is live on testnet.
The Hyperliquid protocol will support builder-deployed perps (HIP-3), a key milestone toward fully decentralizing the perp listing process.
An MVP of this feature is live on testnet. Feedback is appreciated during this testing phase. Note that numbers and specifications below…
— Hyperliquid (@HyperliquidX) May 2, 2025
The task of creating new market pairs will become decentralized in the future. However, to ensure no bad actors and market manipulation, Hyperliquid will require a stake of 1M HYPE. The new DEX perpetual pair launches will allow for additional fees.
Hyperliquid is also drawing attention for its HyperEVM, an additional layer secured by the same consensus as the main Hyperliquid L1 chain. The eventual launch of HyperEVM will serve to point even more attention to the project.
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