Decentralized perpetual exchange (DEX) Hyperliquid (HYPE) has reached a significant milestone, surpassing $1 trillion in total perpetual contract (perps) trading volume.

This achievement comes despite a broader market downturn, where major sectors have posted losses. While there has been slight growth today, it remains minimal, highlighting the market’s challenges.

Hyperliquid Dominates Perps Market 

According to data from DeFiLlama, Hyperliquid perps’ cumulative trading volume has surged to $1.1 trillion. This rise in activity highlights its growing appeal among traders.

Furthermore, as reported by Dune Analytics, weekly volumes have ranged between $40 billion and $50 billion. In fact, the platform now commands over 60% of the market share among perps platforms, solidifying its position as a powerhouse in decentralized finance (DeFi).

Besides its market dominance, Hyperliquid has made headlines for being central to a major development. As BeInCrypto reported, the platform gained widespread attention after a whale trader opened a 40x leverage BTC short position worth $423 million, triggering a “whale hunt.”

Nonetheless, the developments have not done much for the platform’s native token, HYPE. Instead, it has been underperforming, maintaining a consistent downtrend.

Over the past day, it has depreciated by 3.4%. At press time, it traded at $12.9, marking lows not seen since December 2024. Moreover, the platform has faced increased scrutiny following concerns about potential money laundering.

Analyst Forecasts: Will HYPE Reach $100?

Despite these struggles, an analyst predicted that HYPE could reach $50-$100, citing its status as the leading crypto DEX and its high-throughput Layer 1 blockchain.

In the latest X (formerly Twitter), he highlighted Hyperliquid’s impressive growth. The platform averages $6.7 billion in daily volume, a significant increase from $1.1 billion in October. This surge has increased its market share relative to Binance, jumping from 2% to 9% in just six months.

“If Hyperliquid can maintain just a fraction of its growth rate, we could see it reach ~20% of Binance’s volumes by the end of the year,” the post read.

According to the analyst, this expansion could significantly boost the HYPE token’s valuation.

“If Hyperliquid is able to reach 20% of Binance’s volume, I think we could easily see $40-50 HYPE with the uptick in earnings and a slight multiple expansion,” he said.

He also highlighted several factors that could fuel Hyperliquid’s continued success. The recent addition of native spot Bitcoin (BTC) trading, coin margin functionality, and the possibility of launching a delta-neutral stablecoin are seen as major catalysts for future growth. 

Another key development is the evolution of Hyperliquid’s Layer 1 blockchain ecosystem. The platform has attracted over 50 projects and holds over $2.3 billion in USDC and BTC deposits.

The analyst added that Hyperliquid has a strong potential to establish itself as the third most used blockchain, following Ethereum (ETH) and Solana (SOL), within the next few years. 

“Given ETH and SOL are worth $230 billion and $75 billion, respectively what does that make Hyperliquid’s potential L1 valuation? Even at 15-25% of ETH or SOL, that adds another $10-50 to the token price. $50 for the perps/spot/stablecoin product + another $50 for the L1 and $100 HYPE seems possible,” he predicted.

The post Hyperliquid Surpasses $1 Trillion in Perps Volume, but HYPE Token Continues to Struggle appeared first on BeInCrypto.

After Circle rejected Ripple’s $5 billion buyout offer, rumors are circulating that Ripple made another attempt. Despite the claim that it tried to offer Circle $20 billion, there is no tangible proof supporting this claim.

Commentators pointed out that Circle’s IPO was previously valued at around $5 billion, making a $20 billion offer seem totally ridiculous. It’s hard to be certain, but it appears that this rumor moved the market less than other recent false claims.

Did Ripple Offer Circle $20 Billion?

Circle, the issuer of the world’s second-largest stablecoin, turned a lot of heads when it rejected Ripple’s offer Wednesday. Circle’s IPO was delayed after tariff chaos, and analysts have raised concerns about the firm’s financials.

This made its refusal especially noteworthy, leading to community speculation.

Last night, rumors began to appear that Ripple’s CEO, Brad Garlinghouse, had made a bold new offer to Circle. Specifically, several prominent social media accounts claimed that Garlinghouse set a new offer at $20 billion.

This rumor gained new traction as crypto industry media publications began reporting on it. Still, Garlinghouse hasn’t publicly said anything.

Users immediately began urging caution, reminding the community that nothing had been confirmed. Meanwhile, several pieces of evidence explain why Ripple’s alleged Circle offer is not credible.

For example, although Circle’s IPO hasn’t launched yet, it still gives valuable market data:

“FYI, Circle’s IPO valuation is ~$5 billion (which is the valuation Ripple is looking at when it made its acquisition offer). There is no way Ripple would offer $20 billion for Circle. I see lots of people saying $5 billion is a low offer since Circle holds $60 billion in collateral…However, it does not own that collateral,” Dom Kwok, co-founder of EasyA, stated.

It’s hard to be certain, but the rumor has apparently left a minimal market impact. False claims have recently had an outsized influence over the crypto industry; rumors of Trump pausing tariffs caused huge chaos.

Similar statements regarding XRP ETF approval and OpenAI integrating Worldcoin proved untrue. Nonetheless, they were definitely influential.

Of course, it’s still difficult to draw a clear conclusion from this. Did large numbers of people believe Ripple’s alleged Circle offer? Were retail traders suspicious of the claim?

Hopefully, the crypto community will move past this period of credulity. When markets consistently move on misinformation, it can disrupt momentum.

The post Rumors Claim Ripple Made $20 Billion Buyout Offer to Circle  appeared first on BeInCrypto.