What is Hyperliquid (HYPE)? Hyperliquid is a high-performance, decentralized layer-1 blockchain with a native DEX for perpetual futures, launched in 2023. The native HYPE token is backed by aggressive revenue-fed buybacks – already hundreds of millions deep. It hit a peak price of over $59 in September 2025 and is known for its high-speed on-chain order book. As of May 2026, the ecosystem supports over $3 billion in TVL. At this point, Hyperliquid dominates over 70% of on-chain derivatives volume across the whole crypto market, regularly clearing $13-15 billion daily and pushing up to $4 million in protocol earnings every 24 hours. Is Hyperliquid Worth All the Recent Hype? Hyperliquid recently delivered one of the strongest moves in the crypto market, but now it may be losing momentum. #BTC Price Analysis# #Macro Insights# $BTC $ETH