Over the past week, Total Value Locked (TVL) in the cryptocurrency market has shown remarkable growth, with Bitcoin gaining $3.09 billion and Ethereum adding $2.22 billion.
However, the standout performer is the Hyperliquid chain, which saw its TVL grow by $1.87 billion, fueled by significant inflows of USDC.
In the past 7 days, #Bitcoin's TVL increased by $3.09B, #Etherum's TVL increased by $2.22B, and #Hyperliquid's TVL increased by $1.87B.
Funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.https://t.co/4vCCiAiY2d pic.twitter.com/SA83mWiNYc
— Lookonchain (@lookonchain) December 16, 2024
Since the Token Generation Event (TGE) for HYPE on November 29, the Hyperliquid chain has experienced a staggering $1 billion net inflow of USDC. This has significantly boosted the Deposit Bridge, which now holds $2.09 billion in USDC—doubling in value in just 17 days.
🔥 #Hyperliquid is on fire! Since $HYPE's TGE on November 29, a massive $1B net inflow of $USDC has entered this chain.
The Deposit Bridge now holds $2.09B $USDC —doubling in just 17 days.
Meanwhile, $HYPE has surged 729% during this period.
Follow @spotonchain and track the… pic.twitter.com/8B3DmkNqls
— Spot On Chain (@spotonchain) December 16, 2024
This growth momentum coincides with a massive price surge for HYPE, which has skyrocketed by 746% within the same timeframe. Investor interest has been further reflected in open interest levels for Hyperliquid, which have reached a record-breaking $4.3 billion.
Hyperliquid reached a new all-time high in open interest of >$4.3B. pic.twitter.com/8YUwBEEWEU
— Hyperliquid (@HyperliquidX) December 16, 2024
The rapid expansion of Hyperliquid’s ecosystem, driven by increased adoption and liquidity inflows, highlights its rising prominence within the blockchain space. The impressive gains in TVL and token value suggest growing confidence among investors and institutional players in the platform’s potential.
As Hyperliquid continues to attract capital and achieve milestones, its role in the broader crypto market is becoming increasingly significant. With the price of HYPE soaring and TVL reaching new heights, all eyes are on Hyperliquid to see how it sustains this trajectory in the coming months.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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