Hyperliquid (HYPE) jumps 35% as it reaches top 12 cryptocurrencies Is it the next Solana?

Hyperliquid’s native token, HYPE, has become one of the fastest-rising assets in the crypto market after recording a 35% year-to-date gain despite weakness across major digital currencies. While Bitcoin and Ethereum have traded sideways, Hyperliquid has broken away as a top performer, recently pushing into the top 12 cryptocurrencies by market capitalization.

As of late November 2025, HYPE trades near the $35 level with a market valuation approaching $12 billion. Its move into large-cap territory reflects growing demand from retail traders and professional market participants searching for alternatives beyond traditional layer-1 assets.

Why Hyperliquid is rising

Hyperliquid is not just another hype-driven crypto project. It operates a decentralized derivatives platform powered by its custom-built blockchain, delivering fast execution, zero-gas trading, and advanced tools typically found on centralized exchanges.

A major catalyst is the project’s fee buyback model, where most platform revenue is used to repurchase HYPE from the market. Higher trading volume directly increases token demand, helping support the recent price breakout.

Another factor is the project’s community-first launch strategy. Instead of heavy venture capital involvement, tokens were broadly distributed via airdrops and usage incentives, resulting in decentralized ownership and strong organic growth.

Why some are calling it the next Solana

Many investors now describe Hyperliquid as a possible successor to Solana’s early growth phase. The comparison comes from similar traits: high throughput, efficient infrastructure design, and a growing ecosystem centered around speed and scalability.

HYPE has also outperformed Bitcoin in 2025, strengthening its reputation as a high-growth digital asset. Still, such comparisons should be treated cautiously. History does not repeat exactly, and price momentum alone does not guarantee long-term success.

Risks investors should note

Despite strong performance, HYPE remains volatile. Earlier this month, the token briefly fell out of the top 20 before rebounding, showing how rapidly sentiment can shift.

There are also ongoing discussions around future tokenomics adjustments, including possible changes to supply limits. Any major decisions could impact investor confidence.

In addition, competition in decentralized derivatives continues to intensify, with multiple networks racing to dominate liquidity and user adoption.

What happens next?

Hyperliquid is now among the most closely watched crypto projects of 2025. If platform growth remains steady and market conditions improve, HYPE could continue its climb.

However, investors must remember that crypto markets remain unpredictable. No price increase is guaranteed, and careful research is essential.

FAQs

What is Hyperliquid (HYPE)?

Hyperliquid is a decentralized trading platform built on a proprietary blockchain, with HYPE as its native token.

Why did HYPE surge 35%?

Rising platform usage, a buyback model, and growing attention from traders helped push prices higher.

Is Hyperliquid really the next Solana?

The comparison comes from speed and adoption growth, but outcomes can differ widely.

Can HYPE grow even larger?

This depends on trading volume, competition, and market conditions.

Is Hyperliquid a safe investment?

It offers potential but carries high risk, like all digital assets.