Key Takeaways
- With a 4.5% price uptick, Hyperliquid (HYPE) reached a new all-time high of $57.44.
- Hyperliquid’s Total Value Locked (TVL) also reached a new all-time high of $2.773 billion.
- Price action and whale accumulation suggest a potential 37% rally is on the horizon.
Today, September 12, 2025, Hyperliquid (HYPE) reached a new all-time high of $57.44, with a solid 4.5% price uptick. This increase marks the fifth consecutive day the asset has been rising, a streak that has continued since September 7, 2025.
Why is the Hyperliquid (HYPE) Price Rising?
HYPE’s impressive performance is driven by its strong fundamentals and bullish price action. Not only that, but interest from whales and institutions in the asset has also continued to rise, which appears to be a key catalyst for the asset’s notable rally in recent days.
Hyperliquid TVL Hits Record High
The on-chain analytics tool DeFiLlama reveals that Hyperliquid’s staking mechanism has shown remarkable growth this year. According to the data, HYPE’s Total Value Locked (TVL) has increased to $2.773 billion from $403.38 million in January 2025.
TVL indicates how much HYPE investors have locked in the protocol, whether through staking, lending, or other means. In addition, it reflects investors’ confidence in the protocol and their belief in the asset’s long-term potential.
As TVL rises, the total circulating supply in the market decreases, reducing the chances of selling pressure.
Also Read: Hyperliquid’s USDH Stablecoin Issuance: DeFi Giant Sky Proposes 4.85% Yield
DEX Trading Volume Shows Strong Growth
In addition, HYPE’s decentralized exchange (DEX) volume has continued to rise over the past week. DeFiLlama recorded a surge in DEX volume, increasing from $357.07 million to $1.443 billion as of today.
Revenue Growth Fuels Token Buybacks
Beyond on-chain data, a crypto analyst shared that HYPE is one of the crypto market’s biggest revenue generators, using approximately 100% of its revenue to buy back its unlocked tokens.
According to the report, the expert stated that HYPE has generated $103.7 million in monthly revenue and $1.24 billion in annual revenue. Meanwhile, the project’s buyback yield over 30 days and annually is 0.70% and 8.40% of the token’s circulating supply, respectively.
These strong fundamentals appear to be the primary catalyst behind HYPE’s consistent performance.
Hyperliquid (HYPE) Technical Outlook: Key Levels to Watch
Another catalyst for HYPE’s strong upside momentum is its bullish price action. TimesCrypto’s technical analysis reveals that the asset recently broke out of an ascending triangle pattern and has continued to rise since then.
The current price action suggests that HYPE may experience a short-term correction or a breakout retest before a major rally begins. Based on past performance, if HYPE’s upside momentum continues, it could see a price surge of over 37% and potentially reach the $75 level in the future.
At press time, the Supertrend indicator remains in green while trading below the asset price, indicating that the asset is in an uptrend with strong bullish momentum.
Whale Accumulation Drives HYPE Demand
Blockchain-based transaction tracker Lookonchain reveals that whales continue to buy HYPE. Recently, the crypto wallet addresses 0x7E4E and 0x1abD purchased $4.88 million and $4.58 million worth of HYPE tokens, respectively.
