Active addresses on Hyperliquid surge by 150% in Q4 2025

Active Address Growth and Network Participation

Q4 2025 has marked a transformative period for Hyperliquid, with active addresses experiencing explosive growth that reflects the platform's accelerating mainstream adoption. The 150% surge in active addresses demonstrates robust network expansion driven by institutional inflows and ecosystem development initiatives.

This extraordinary growth trajectory aligns with Hyperliquid's expanding market presence. The platform's 75% market share in decentralized perpetual contracts and $95.63 million in 30-day revenue have attracted both retail and institutional participants seeking superior trading infrastructure. The MetaMask integration announced in early December further amplified accessibility, enabling seamless user onboarding through one of the industry's most trusted wallet solutions.

The address surge reflects confidence in Hyperliquid's fully on-chain central limit order book technology, which delivers CEX-comparable execution speeds with sub-1-second block latency. HyperEVM's rapid ascent into the top ten blockchains by TVL reinforces the ecosystem's momentum. These metrics collectively indicate that Hyperliquid has successfully transcended niche positioning to establish itself as essential infrastructure within decentralized finance.

Transaction volume reaches $10 billion, fees surpass Ethereum

Hyperliquid has achieved a historic milestone by reaching $10 billion in transaction volume while simultaneously surpassing major blockchain networks in daily network fees. This remarkable achievement underscores the platform's rapid ascent as a dominant force in decentralized finance infrastructure.

The following table illustrates how Hyperliquid now outperforms traditional layer-1 networks in transaction fee generation:

With daily trading volumes reaching $10-$20 billion and $13 billion in open interest across various assets, Hyperliquid commands approximately 9-11% of global Bitcoin and Ethereum perpetual trading volume. This dominance reflects the platform's capacity to handle massive transaction throughput with sub-second block latency, enabling seamless on-chain execution of every order, cancellation, trade, and liquidation.

The achievement becomes more significant when considering that Hyperliquid accomplished this feat despite HYPE token trading at substantial discounts compared to established networks. This valuation gap highlights the substantial potential for upside appreciation as the platform continues expanding its ecosystem and market penetration. The convergence of extraordinary transaction volumes with fee superiority demonstrates that Hyperliquid has fundamentally disrupted the competitive landscape for decentralized derivatives trading infrastructure.

Whale addresses control 60% of HYPE token supply

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HYPE token distribution presents significant centralization concerns that warrant investor attention. Whale addresses currently control approximately 60% of the total HYPE token supply, creating substantial market manipulation risks. This concentration level substantially exceeds healthy tokenomics standards, where projects typically distribute tokens across broader holder bases to ensure ecosystem stability.

The implications of such concentrated ownership are multifaceted. Research demonstrates that tokens with over 60% supply concentration in few wallets grant insiders complete control over price mechanisms and liquidity dynamics. In projects where tokens confer voting rights, centralized ownership enables a handful of wallets to dominate key governance decisions, frequently prioritizing insider interests over community welfare. Data from comparable projects indicates that tokens with lower whale concentration show 35% more stable price movements compared to highly concentrated alternatives.

Recent developments amplify these concerns. The November 29, 2025 token unlock distributed 1.75 million HYPE tokens exclusively to team members, further reinforcing institutional control patterns. Subsequently, the December cliff unlock released $333 million worth of HYPE tokens, creating additional supply pressure that disadvantages retail holders. Transparency tools now enable investors to identify wallet patterns and potential manipulation risks, transforming concentration data into a critical risk assessment metric for informed investment decisions.

On-chain metrics signal bullish trend, price target of $70

Hyperliquid's on-chain metrics present a compelling bullish narrative, with institutional participation reaching unprecedented levels. Hyperliquid Strategies transferred 12 million HYPE tokens to Hypercore for staking and acquisitions, representing approximately $372 million in locked capital. This institutional commitment demonstrates significant confidence in the protocol's long-term trajectory.

The platform's market dominance continues to strengthen, capturing 73% of decentralized perpetual trading volume in 2025 through HIP-3 upgrades that reduced fees and enabled permissionless market creation. Exchange activity metrics tell a similar story, doubling from $75 billion in November to $150 billion in December 2024, establishing Hyperliquid as one of the fastest-growing decentralized finance platforms.

Technical analysis aligns favorably with these fundamental improvements. HYPE currently holds critical support levels between $28 and $31, with analysts identifying $51.3 as the next major resistance before testing the $65 to $70 zone where profit-taking typically emerges. The $70 price target reflects a reasonable valuation considering the platform's market position and institutional backing. Recent momentum indicators flash buy signals, suggesting potential breakout scenarios from current consolidation levels.

FAQ

What is the hype coin?

HYPE coin is the native token of Hyperliquid, a decentralized perpetual futures exchange built on a high-speed layer-1 blockchain. It combines DeFi transparency with centralized exchange efficiency, offering institutional-grade speed and fully on-chain order books.

Can Hyper reach $1?

Yes, Hyper could potentially reach $1 by 2025, given strong market adoption and favorable crypto conditions. However, it would require significant growth from current levels.

Which coin has 1000x potential?

HYPE coin has 1000x potential. Its innovative technology and strong community support suggest massive growth in the coming years.

Is Hype Token a good investment?

Yes, Hype Token is a promising investment. Its focus on trading and governance supports long-term growth potential. Current market trends indicate strong upside for HYPE in 2025.