Price history
Market cap
25,45 Mrd €
Volume traded (24h)
0,16 Mrd €
Circulating supply
333.928.180 HYPE
All-time high (ATH)
134,50 €
Distance from ATH
-43,3%
Market cap rank
#9
What is Hyperliquid
Hyperliquid is a decentralised exchange (DEX) specialising in perpetual futures, built on its own Layer 1 blockchain designed to handle a very high order volume (over 100,000 orders per second) without relying on centralised intermediaries.
The HYPE token, launched in November 2024, is used both for platform governance and to pay fees, with a buyback-and-burn mechanism tied to the exchange's revenue — a structure that made it one of the fastest-growing projects of 2026, entering the top 10 cryptocurrencies by market cap.
Frequently asked questions
Is Hyperliquid regulated in the UK?
As with most cryptocurrencies, Hyperliquid is not covered by FCA regulation in the same way as regulated investments; the FCA has warned that crypto assets carry a high risk of losing all invested capital.
What makes Hyperliquid different from a centralised exchange?
Hyperliquid runs entirely on a public blockchain, so orders and positions are verifiable by anyone, unlike a centralised exchange where this information stays internal to the platform.
How is Hyperliquid taxed in the UK?
Cryptoasset gains are generally subject to Capital Gains Tax in the UK, with an annual tax-free allowance. Always check current HMRC guidance or consult a tax adviser, as rules can change.