Hype 300% Rally Shows Hyperliquid Growth Is It Overvalued?

Key takeaways:

• HYPE has surged over 300% since April, driven by growing usage of the Hyperliquid exchange and rising investor interest.

• Hyperliquid now leads the decentralized perpetuals market, processing over 70% of DEX perp volume.

• 97% of protocol fee revenue is reinvested into HYPE buybacks, aligning token incentives with platform growth.

Hyperliquid is having a moment. Since its local bottom in April, HYPE (HYPE) has surged over 300% in just two months, reaching an all-time high on June 17, before easing slightly. Meanwhile, the layer-1 blockchain…