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HYPE — Hyperliquid
A trading venue for bets on price movements with borrowed money, on its own fast chain.
What it is for
- Set out to
- Its own chain with an order book kept entirely on chain for perpetual futures.
- Today in addition
- A spot market, HyperEVM for smart contracts, markets operated by third parties.
- Notable
- Consensus itself processes orders, cancellations and liquidations, with finality in the same block.
- Strength
- Income flows continuously into buybacks.
- Weakness
- A small circle of validators.
Contract address
Hyperliquid L1 — its own chain, no contract.
The asset is the currency of its own chain and does not sit as a token on someone else’s. An empty field here would stand for a missing figure — but nothing is missing.
Score
38of 93
Market capitalization
$20.72Bas stored
against Bitcoin, 90 days
—not against the dollar
CoinMarketCap
#32196numeric identifier
This asset is not in the sector barometer.
The four cycles
Measured on daily closing prices, never on daily highs or lows. The cycle boundaries are Bitcoin’s own highest and lowest daily closes: January 14, 2015, December 16, 2017, December 15, 2018, November 8, 2021, November 21, 2022, October 6, 2025 and the current low on June 30, 2026. A day counts only if at least ten thousand dollars were traded on it. The price against Bitcoin is given in satoshi — one satoshi is one hundred-millionth of a bitcoin.
| Cycle | Lowest daily close | Highest daily close | Rise low → high | Fall high → low |
|---|
| 2015 to 2017January 14, 2015 to December 16, 2017 | did not yet exist |
| 2018 to 2021December 15, 2018 to November 8, 2021 | did not yet exist |
| 2022 to 2025November 21, 2022 to October 6, 2025 | existed, but not measurable — reliable exchange days only from January 25, 2026 |
| since 2026, ongoingJune 30, 2026 to September 17, 2026 | $52.0882,983 satAugust 1, 2026 | $87.97109,495 satSeptember 6, 2026 | in dollars +$35.89 (+68.9%)against Bitcoin +31.9%from $52.08 on August 1, 2026 to $87.97 on September 6, 2026 | in dollars -$11.05 (-12.6%)against Bitcoin -7.0%from $87.97 on September 6, 2026 to $76.92 on September 15, 2026 |
| Year by year |
| 2026: in dollars +31.4% (from $64.82 to $85.19) · against Bitcoin +0.7% |
If the high of a window comes before the low, the rise is calculated from the low to the next interim high within the same window.
The four questions that are always answered
Net supply and issuance pressure2 of 20
Starting valuation and size leverage0 of 14
Survivability3 of 12
Relative strength against Bitcoin4 of 6
11 of the twelve criteria collected individually, nothing extrapolated. What the twelve questions measure and what has been corrected about the measurement is on the method page.
The remaining criteria are not recorded individually for this asset; the total comes from the assessment of September 5, 2026.
For User growth per valuation it says “not determined” – that does not count.
The figures in detail
Price, as stored$82.35
against Bitcoin, 7 days—
against Bitcoin, 30 days—
listed on CoinMarketCap sinceJuly 2024
Age since listingnot researched
Fees relative to valuationnot determined
Supply still lockednot researched
hard supply capnot researched
Carried by Nexocarried
Trading venues of 15 checked13 of 15
The fifteen largest centralized exchanges by the CoinMarketCap ranking were counted, as of September 5, 2026. Decentralized exchanges do not count. Bybit is not included in any figure, because the venue was not reachable through sixteen address forms. Which five venues are the best for each asset has not been collected yet.
Finding
Remaining unlock 73.57 percent — by far the worst value of the first Nexo run; 77.76 percent of the total supply is locked. The second strongest capital channel of the run with three US spot ETFs totaling around $449 million. The node software is closed source, there is exactly one implementation, and the foundation holds around 49.3 percent of the voting power. CME and ICE pressed the CFTC for a review in May 2026, and the British FCA put Hyperliquid on its warning list.
Investors and partners: not researched — awards no points, because projects with large backers did not perform better.
Nexo: Carried by Nexo — purchase page documented on September 1, 2026.
No investment advice, no price forecast, no buy or sell recommendation. A high score does not mean “will rise”. It means the asset scores better on these questions than the others.