Hyperliquid Explodes: +176% While Bitcoin And Ethereum Collapse

Although very young, Hyperliquid has managed to write its story at breakneck speed and is establishing itself as an imposing ecosystem in the crypto industry. Its native token HYPE sometimes finds itself in the spotlight, notably thanks to a well-oiled buyback strategy and solid fundamentals. While Bitcoin and Ether were struggling in recent weeks, HYPE defied the storm and enjoyed a soaring ascent.

Hyperliquid, the altcoin that ridicules the giants

In a crypto ocean in perpetual turmoil, Hyperliquid (a blockchain that aims to be transparent ) and its token HYPE have experienced a skyrocketing rise of 176% since their launch in December 2024. While Bitcoin fell by 3% and Ether lost 32%, HYPE displayed an outrageous growth.

HYPE, BTC, ETH, total chart over three months. Data source: TradingView

Its secret? A massive buyback program fueled by fees generated amounting to 400 to 500 million dollars annually, resulting in an impressive ratio of 20x relative to its circulating supply.

James Ho, co-founder of Modular Capital, does not hide his enthusiasm:

“Only a handful of tokens have shown positive performance since the beginning of the year, and Hyperliquid is one of them“.

Add to this an historic airdrop of 7.5 billion dollars in January 2025, and you have an explosive cocktail that attracts the spotlight.

• 176% increase in two months;
• 400 to 500 million dollars in annual fees;
• 7.5 billion dollars in airdrop in January 2025;
• Bitcoin down by 3%, Ether down by 32%.

While HYPE seems unbeatable for now, some analysts predict that other altcoins might follow suit shortly, once the memecoin ecosystem has left a little oxygen for the rest of the market.

A crypto market in search of new kings

The crypto landscape of 2025 no longer resembles that of previous cycles. According to Nicolai Sondergaard , analyst at Nansen:

“The altcoin season will eventually arrive, but it may not look like what we have seen before“.

The explosion of memecoins has monopolized investors’ attention, making the trajectory of other altcoins more uncertain.

Moreover, Hyperliquid does not stop at the performance of its token. Its partnership with Unit Protocol opens new perspectives for decentralized finance, allowing direct deposits and withdrawals of bitcoin on its blockchain.

A first that could well redistribute the cards of on-chain trading.

Jeff.hl, a developer at Hyperliquid, aims high:

“Launching Unit Protocol brings Hyperliquid closer to its ultimate ambition: to become the essential hub of tokenized finance“.

With record liquidity and refined UX, the platform aims to attract both beginners and seasoned traders.

However, not everything seems to be rolling out on a red carpet for Hyperliquid. VanEck recently questioned whether the blockchain could avoid a catastrophe , especially since the crypto community is demanding and unpredictable. If promises are not fulfilled, the market could quickly turn. Hyperliquid has won a battle, but the war for decentralization is far from over.