On January 28, news reports indicate that the HYPE token surged over 30% this week, with its price reaching as high as $33, clearly outperforming mainstream cryptocurrencies like Bitcoin and Ethereum. This trend is seen by industry insiders as a microcosm of the deep integration between the crypto market and traditional financial assets, driven by recent structural changes in the decentralized platform Hyperliquid.
Hyunsu Jung, CEO of Nasdaq-listed Hyperion DeFi, pointed out that the rise of HYPE is not merely driven by sentiment but results from the acceleration of asset tokenization across multiple asset classes on the same blockchain. As the first US-listed company to include HYPE in its long-term financial portfolio, Hyperion DeFi held over 1.4 million HYPE tokens by the end of last year.
Compared to the overall market, HYPE’s performance is particularly notable. During the same period, Bitcoin saw only a slight increase, while Ethereum remained relatively stable. In contrast, HYPE’s independent market activity indicates that capital is reassessing its underlying economic model and application expansion capabilities.
Hyperliquid initially focused on crypto-related derivatives trading, but after launching the HIP-3 proposal in October 2025, its ecosystem experienced a significant shift. This mechanism allows users staking a certain amount of HYPE to create trading markets for non-crypto assets, enabling on-chain trading of stock indices, commodities, and major fiat pairs. This change coincided with a rally in traditional assets like gold and silver, directly boosting trading activity in related markets.
Data shows that within just a few months of the HIP-3 launch, the platform’s open interest in related markets exceeded $1 billion, with total trading volume around $25 billion and cumulative fees surpassing $3 million. A large portion of these fees are funneled back into the token economy through automation mechanisms, with most used to buy back and burn HYPE, continuously reducing circulating supply.
Hyunsu stated that such a highly deflationary design is rare among other blockchain ecosystems. Additionally, the 24/7 trading of traditional assets on-chain allows global users to quickly price macro events even during traditional market closures, enhancing market efficiency and price continuity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Sits at a Crucial Support Level, Analyst Expects Break Above $79,000 or Below $64,000
Bitcoin sits at a crucial support level, big move could play out soon.
Analyst expects break above $79,000 for bullish reaction.
A bearish reaction and a drop below $64,000 could also play out.
This week was an exciting one for the
CryptoNewsLand55m ago
Solana Recovery Gains Pace While Derivatives Data Shows Split Sentiment
Key Insights
Solana records four consecutive days of gains as funding rates rise, signaling stronger retail interest while overall market conviction remains divided across participants.
Declining futures Open interest alongside rising funding rates highlights reduced trader exposure,
CryptoNewsLand1h ago
ATOM Eyes 15% Gain: Technical Indicators Point to Possible Upswing
ATOM broke a long bearish trend with a 5.25% price increase.
Price must close above $1.77 to confirm a potential 15% rally.
Top holders and rising Open Interest indicate growing bullish sentiment among traders.
Cosmos — ATOM, has started showing signs of breaking free from a long bearish
CryptoNewsLand2h ago
Bitcoin’s implied volatility drops to an intra-year low, and the market is reacting mildly to Friday’s CPI data
April 9, U.S. March CPI data will be released on April 11. The market expects the year-over-year rate to rise from 2.4% to 3.4%. The Bitcoin market has responded calmly, with the options market’s volatility range only at 2.5%. Attention has been drawn by the rise in gasoline prices. Analysts believe that CPI data coming in either too soft or too hot will have different impacts on the crypto market.
GateNews3h ago
XRP Stabilizes Near Key Levels Amid Fed Pressure and Rule Shift
Key Insights
XRP stabilized near $1.31 as macroeconomic pressures and declining liquidity combined to limit recovery momentum and increase short-term volatility risks significantly.
Proposed stablecoin regulations favor utility models, positioning RLUSD for growth while reducing incentives t
CryptoNewsLand3h ago
XRP Today’s News: Institutional funds return, circulating inflow of 120 million exceeds Bitcoin
This week, XRP recorded a $119.6 million capital inflow, setting the highest mark since 2025 and becoming a major beneficiary in the crypto market. This round of funds returning was mainly driven by greater clarity in regulatory policy and XRP’s real-world use in cross-border payment infrastructure. Technically, it shows an initial recovery, but overall it is still in a downward channel. The support and resistance levels are $1.31 and $1.40, respectively; if it breaks through, it is expected to reach $1.50.
MarketWhisper6h ago
