Hyperliquid, the decentralized trading exchange, has reached a new all-time high in assets under management (AUM), hitting $6 billion on August 13—the highest level in its history.
According to a Dune report, the surge also pushed USDC deposits to record highs, with the total value locked (TVL) climbing to $5.27 billion.
The growth followed a daily net inflow of $395 million into the exchange, led by $303 million in USDC and $47 million in ETH deposits. At press time USDC accounts for over 70% of Hyperliquid’s TVL, likely due to the recent integration of Cross-Chain Transfer Protocol (CCTP v2), which enables seamless transactions between USDC and Hyperliquid.
At the time of its partnership announcement with Circle, Hyperliquid maintained $5.5 billion in AUM, suggesting a $500 million capital unlock for the protocol.
Broader Market Impact
Hyperliquid continues to dominate the decentralized trading market. Analysis shows that the recent spike in TVL pushed its monthly trading volume to $18.67 billion, securing its position among the top five chains with daily trading volumes above the $1 billion threshold according to DeFiLlama.
Total deposits hit an all-time high of $121 billion, while the exchange logged the highest daily fees in the market at $4.7 million after a recent report that showed a $97.7 million in fees generated in the past month, surpassing all other chains, including Tron—known for its high stablecoin activity and Ethereum garnering institutional attention.
The exchange also leads in open interest, which stands at $12.1 billion at press time.
These developments highlight strong growth in the protocol and sustained user interest, despite Hyperliquid refunding $2 million after an API outage that affected users.
Price Outlook for HYPE
The outlook for HYPE remains bullish. In a recent forecast, Finance Feed anticipated a rally toward $60.
Short-term analysis indicates continued strength after the asset broke through a diagonal resistance line (marked in blue) and reached its August high of $48.8.
The price has since moved into the black trend line, which could act as a new support level after serving as resistance. Sustained momentum could push HYPE toward a short-term target of $49, while the long-term bullish trend remains intact.
