Hyperliquid’s Phantom Deal Ignites HYPE Rally: $120 in Sight as Traders Chase the Mirage

Another day, another crypto pump—but this one's got teeth. Hyperliquid's shadowy partnership (details? what details?) sent HYPE screaming toward $120 like a degens spotting a fresh airdrop. Who needs fundamentals when you've got hype in the name, right?

The Phantom Playbook

No white papers, no roadmap—just a whisper of 'strategic synergy' and boom: liquidity materializes out of thin air. Classic crypto alchemy—turning vapor into valuation while traditional finance guys clutch their spreadsheets.

FOMO Tsunami Hits

Watch the charts bend as leverage traders pile in. Resistance levels? Obliterated. Stop losses? Liquidated. The only thing rising faster than the price is the collective blood pressure of short sellers.

Just Another Wednesday in Web3

Remember when markets moved on earnings reports? Cute. Today's catalysts: a tweet, a meme, and the eternal crypto promise that maybe—just maybe—you'll be the one to sell before the music stops.

Hyperliquid Gains Momentum with Phantom Integration

The partnership allows Phantom wallet users to seamlessly trade perps (perpetual contracts) using Hyperliquid’s infrastructure. While the feature is built into Phantom, all liquidity and trade execution are handled on the Hyperliquid backend. This integration marks a major milestone, transforming Hyperliquid into a foundational layer for trading in the broader ecosystem.

Phantom’s extensive user base, known for being one of the most active communities in crypto, could be a powerful source of growth for Hyperliquid. In essence, users may not even realize they’re using Hyperliquid — but their trades, liquidity, and data FLOW directly through it. This creates what some analysts refer to as “liquidity infrastructure as a service.”

According to venture capitalist Ryan Watkins, founder of Syncracy Capital, the real breakthrough lies in the builder codes — unique referral mechanisms that allow any third-party app or wallet to plug into Hyperliquid and offer perpetual trading. In return, these entities can earn a share of the revenue generated from user activity.

Watkins emphasized how builder codes were initially undervalued, but are now being seen as essential to driving Hyperliquid’s ecosystem-wide adoption. By allowing anyone — from MetaMask to emerging fintech apps — to use Hyperliquid’s backend while building their own user interfaces, the project becomes infinitely scalable.

Infrastructure for the Next Generation of Trading

The integration isn’t just a one-time boost. Analysts argue it could mark the beginning of a broader shift toward decentralized infrastructure for crypto trading. With ongoing work on HIP-3 (Hyperliquid Improvement Proposal 3), builders could soon create their own perpetual markets on top of Hyperliquid. That means more apps, more fees, and more users — all flowing through the same liquidity engine.

Simon Dedic, managing partner at Moonrock Capital, agrees with the bullish outlook. He pointed out that Hyperliquid’s current user base of about 40,000 daily users has already generated nearly $400 million in revenue. Adding Phantom’s 10 million users to that equation opens the door to significantly higher volume and fee generation.

This model is especially compelling in the context of revenue sharing. Builders and third parties integrating Hyperliquid can directly benefit from the activity they generate, encouraging faster and wider adoption.

A Vision for the “Everything Exchange”

With its infrastructure-first strategy and decentralized scaling approach, Hyperliquid aims to become what Watkins described as an “everything exchange.” Unlike traditional exchanges that own both the platform and the user interface, Hyperliquid is positioning itself as the foundational LAYER for others to build on.

In this model, exchanges don’t need to be monolithic. Instead, multiple interfaces can cater to different regions, use cases, or preferences — all powered by the same core infrastructure. This modular approach mirrors what ethereum did for smart contracts, now being applied to perpetual trading.

The timing may also be perfect. As decentralized exchanges continue to grow and users seek alternatives to centralized platforms, Hyperliquid’s model offers a middle path: high-performance trading without the custodial risks.

Could HYPE Really Hit $120?

Hyperliquid’s native token, HYPE, is already gaining interest from institutional investors and retail traders alike. With projections placing the platform’s market cap anywhere between $70 billion and $120 billion in the next 12 months, price expectations are rising quickly.

According to estimates from A1 Research, this growth WOULD represent a 2x to 3.5x increase from current levels, putting HYPE in the $69–$120 range. While price targets are always speculative, the core argument is based on user growth, builder adoption, and sustainable fee generation.

As the number of integrated apps increases and user experience improves, HYPE’s demand could surge alongside its utility. If Phantom’s onboarding of 10 million users is any indication, Hyperliquid may only be scratching the surface of its long-term potential.

Final Thoughts

The Hyperliquid and Phantom partnership represents more than just a feature upgrade — it’s a strategic move toward decentralized dominance. By becoming the infrastructure layer for perpetual markets, Hyperliquid opens the door to exponential growth, both in users and revenue.

If the vision of the “everything exchange” holds true and if Hyperliquid continues to attract builders and apps at scale, the price target of $120 may no longer feel like a stretch. For traders and investors watching the decentralized trading space, HYPE is quickly becoming a name worth tracking closely.