On January 28, news reports indicate that the HYPE token surged over 30% this week, with its price reaching as high as $33, clearly outperforming mainstream cryptocurrencies like Bitcoin and Ethereum. This trend is seen by industry insiders as a microcosm of the deep integration between the crypto market and traditional financial assets, driven by recent structural changes in the decentralized platform Hyperliquid.
Hyunsu Jung, CEO of Nasdaq-listed Hyperion DeFi, pointed out that the rise of HYPE is not merely driven by sentiment but results from the acceleration of asset tokenization across multiple asset classes on the same blockchain. As the first US-listed company to include HYPE in its long-term financial portfolio, Hyperion DeFi held over 1.4 million HYPE tokens by the end of last year.
Compared to the overall market, HYPE’s performance is particularly notable. During the same period, Bitcoin saw only a slight increase, while Ethereum remained relatively stable. In contrast, HYPE’s independent market activity indicates that capital is reassessing its underlying economic model and application expansion capabilities.
Hyperliquid initially focused on crypto-related derivatives trading, but after launching the HIP-3 proposal in October 2025, its ecosystem experienced a significant shift. This mechanism allows users staking a certain amount of HYPE to create trading markets for non-crypto assets, enabling on-chain trading of stock indices, commodities, and major fiat pairs. This change coincided with a rally in traditional assets like gold and silver, directly boosting trading activity in related markets.
Data shows that within just a few months of the HIP-3 launch, the platform’s open interest in related markets exceeded $1 billion, with total trading volume around $25 billion and cumulative fees surpassing $3 million. A large portion of these fees are funneled back into the token economy through automation mechanisms, with most used to buy back and burn HYPE, continuously reducing circulating supply.
Hyunsu stated that such a highly deflationary design is rare among other blockchain ecosystems. Additionally, the 24/7 trading of traditional assets on-chain allows global users to quickly price macro events even during traditional market closures, enhancing market efficiency and price continuity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
PEPE Price Coils Within $0.053385–$0.053517 Band as Momentum Stays Balanced
PEPE is trading within a tight range, with support at $0.053385 and resistance at $0.053517. The token shows minimal daily gains and balanced momentum indicators, indicating potential for volatility. Despite limited movement against USDT, PEPE appreciates against BTC and ETH.
CryptoNewsLand17m ago
1.7 Billion Cardano in 24 Hours, ADA Bulls React to Market Sentiment Shift - U.Today
Cardano (ADA) has seen significant trading activity recently, with a drop in price from $0.2682 to $0.2590 amid rising selling pressure and global tensions. Increased selling and market sentiment could challenge ADA's stability, but recent adoption efforts may support recovery if trading volumes rise.
UToday1h ago
Geopolitical Turmoil! Dalio Declares "Gold is the Only True God," but Its Safe-Haven Performance Trails Bitcoin
As geopolitical tensions in the Middle East escalate, Bridgewater founder Ray Dalio questions Bitcoin and reaffirms gold as the preferred safe haven. Nevertheless, gold prices fell accordingly, while Bitcoin only experienced a slight correction, indicating that the correlation between the two is weakening. Dalio doubts Bitcoin's transparency and future risks, but he still maintains a small allocation of Bitcoin for diversification.
区块客2h ago
Interest in altcoins cools down: Can Ethereum trigger a new altcoin season?
The market is forcing investors to bring risk management back to the center.
From a technical perspective, the inflow of funds over the past week has driven
TapChiBitcoin2h ago
Aster Price Nears $0.79 Breakout as Reversal Pattern Strengthens
Key Insights
Aster price structure shows an inverse head and shoulders pattern forming beneath $0.79 resistance, signaling growing buying pressure and possible trend reversal ahead.
Repeated tests of the $0.79 neckline suggest weakening selling pressure as buyers steadily absorb supply
CryptoFrontNews5h ago
The HYPE price could surge despite the upcoming $2.8 million short squeeze.
The recent price movements of Hyperliquid (HYPE) are characterized by stagnation around 30 USD. A symmetrical triangle pattern indicates potential for a breakout in either direction, but market sentiment is cautious. Short squeeze risks may boost prices, while weak market flow and deteriorating demand pose challenges. The token could face significant support levels if it dips below 30 USD. An improved market sentiment could lead to a breakout above 33 USD, sparking recovery momentum.
TapChiBitcoin5h ago
