Hyperliquid Records Milestone Volume in May; HYPE Price Spikes

Hyperliquid, a decentralized perpetual futures platform, recorded a milestone in May, with its volume spiking significantly. The ripple effect of the applaudable feat was also seen in the HYPE price, which recorded a high. Hyperliquid Outshines All Perpetual Futures Platforms Hyperliquid could consider the fifth month of 2025 its best so far, according to data from DeFiLlama, the protocol recorded up to $242.40 billion in cumulative volume for May. This is higher than the $187 billion documented in April and the $175 billion from the previous month. Judging by this growth, Hyperliquid has invariably processed tokens valued at over $1.6 trillion since its inception. The current volume far outweighs the combined volume of its counterparts, such as Jupiter, APX Finance, MYX Finance, and many more. APX Finance saw a cumulative volume of around $7.46 billion, Jupiter $19.78 billion, MYX Finance $7.19 billion, ApeX Protocol $9.30 billion, and Helix Perp registered around $3.08 billion. Many other perpetual futures protocols on the list had a cumulative volume of less than $10 billion each, with some, like AshPerp, even going as low as $1 million. Hyperliquid Placed Side-by-Side With Binance On May 26, the HYPE price reached as high as $39.92, up by over 327% from its lowest point in April. At the time of this writing, it traded at $32.86 , corresponding to a 0.74% increase in the last 24 hours. Based on its new outlook and latest developments, Hyperliquid now ranks amongst the top Centralized Exchanges (CEXs) such as Binance, Bitget, and Bybit. However, there still exists a reasonable distance between the volume of transactions that they handle individually. In the last 24 hours, Binance, Bybit, and Bitget handled $41.27 billion, $15 billion, and $14 billion, respectively. On the other hand, Hyperliquid handles just around $4 billion in assets at the same time. Still, it is ranked as one of the most profitable players in the crypto sphere. ZachXBT Slams Hyperliquid Trader James Wynn It is worth noting that in May, popular Hyperliquid trader James Wynn was accused of acting dishonestly . For backstory, Wynn informed his followers of a token using his name for promotion, urging them to stay away from it. He claimed that those behind the token used his name to trick investors. To this end, Wynn tagged the token a scam and said it would lose all its value. In response to these statements, blockchain investigator ZachXBT criticized Wynn for discussing scam tokens linked to his name if he had not done so before. The post Hyperliquid Records Milestone Volume in May; HYPE Price Spikes appeared first on TheCoinrise.com .

Source: The Coin Rise