HYPE (Hyperliquid) rose 4.95% in the last 24 hours.

Gate News Bot report, September 9, according to CoinMarketCap data, HYPE (Hyperliquid) is currently priced at $51.06, having risen 4.95% in the last 24 hours, reaching a high of $51.89 and a low of $44.31, with a 24-hour volume of $374 million. The current market capitalization is approximately $17.052 billion, an increase of $804 million compared to yesterday.

Hyperliquid is a blockchain platform designed to integrate all financial operations. It offers users a decentralized exchange with low fees, up to 40x leverage, and a fully on-chain order book. The block time of Hyperliquid is only 0.07 seconds, with a maximum trading volume of 200,000 transactions per second, and it currently has 675,500 users. The platform is committed to providing a high-performance unified chain for project development, value creation, and asset exchange.

Important news about HYPE recently:

1️⃣ Institutional investors large purchases of HYPE An investor deposited 4.01 million USDC into Hyperliquid, purchasing 63,197 HYPE at an average price of $47.41, and continued to place limit buy orders at $47.17. This indicates that institutional investors remain optimistic about HYPE, which could drive a short-term price rise.

2️⃣ Hyperliquid monthly revenue hits an all-time high Hyperliquid's August revenue reached $106 million, setting a monthly historical high, a rise of 23% compared to July. This is mainly due to the platform's nearly $400 billion volume of perpetual contract trades in August. The high revenue reflects the continued rise in user activity and trading demand on the platform, which is beneficial for HYPE's long-term development.

3️⃣ Competition for USDH Stablecoin Issuance Rights Intensifies Several well-known institutions, including Paxos, Frax Finance, and Agora, have joined the competition for the issuance rights of the USDH stablecoin under Hyperliquid. As an important component of the Hyperliquid ecosystem, the competition for its issuance rights reflects institutions' optimism about the Hyperliquid ecosystem and may bring more attention to HYPE.

HYPE has recently shown a pump trend, mainly benefiting from large purchases by institutional investors, continuous rise in platform revenue, and the ongoing improvement of the ecosystem. However, investors still need to pay attention to the volatility risk of the overall cryptocurrency market.

This message is not intended as investment advice, and investors should be aware of market volatility risks.