Hyperliquid Gains Momentum Amid Network Upgrades and Surging Capital Inflows

Hyperliquid (HYPE) is poised for a potential breakout as network enhancements and rising bridge deposits fuel bullish sentiment. The token trades at $39.85, marking a 6% daily gain, while hovering 12% below its June 16 all-time high of $45.57.

Capital inflows have surged dramatically, with bridge deposits jumping from $500 million to nearly $4 billion, reflecting growing confidence in the platform's efficiency. Hyperliquid now dominates decentralized perpetuals trading, capturing 75% of the market with $220 billion in 30-day volume—six times its nearest competitor.

Upcoming upgrades like CoreWriter aim to enhance performance by enabling native communication between HyperEVM applications and HyperCore's trading engine. Two additional undisclosed initiatives are reportedly in development, further strengthening the protocol's infrastructure.