Hyperliquid Overtakes Ethereum and Solana in Transaction Fees, HYPE Sets a Record High!

Jakarta, Pintu News – Decentralized finance coin Hyperliquid (HYPE) surged nearly 10% today, setting an all-time high as positive momentum builds.

This increase comes amid increased network activity, where on-chain data shows user demand for the Hyperliquid blockchain continues to grow. This has fueled expectations that HYPE prices could continue to rise.

HYPE PRICE Rally Supported by Increased User Activity

According to data from Artemis, Hyperliquid’s layer-1 (L1) blockchain managed to record the highest network fees in the last 24 hours (18/9), surpassing established leaders such as Solana (SOL), Tron (TRX), and Ethereum (ETH).

Read also: Ethereum Falls to $4,500 on September 19 — Is a Rally to $5,400 Still in Sight?

During the period, Hyperliquid generated $3.2 million in transaction fees, well ahead of Solana with $1.8 million, Tron $1.4 million, and Ethereum $1.1 million.

Network fee spikes are generally considered an indicator of true user demand, as they reflect the level of on-chain activity. Therefore, the fact that Hyperliquid was able to outperform its major competitors suggests that the network is attracting significant user engagement.

If this trend continues, it will further strengthen HYPE’s positive trend and potentially push the token to new highs.

Additionally, according to data from DefiLlama, the supply of stablecoins on the Hyperliquid network has increased by 5% in the past week, signaling increased liquidity in the ecosystem.

The supply of stablecoins on a network is an indicator of market participation and capital flows. So, when this supply increases, it indicates more users are allocating funds, making transactions, and seeking opportunities within the ecosystem.

This increase in liquidity provides additional support for HYPE and could help maintain its upward momentum in the near term.

Bulls aim for higher peaks, bears beware of bottom at $48.84

Continued demand for HYPE could extend its price rally. In this scenario, HYPE could potentially break its record high of $59.41 and attempt to form a new price peak.

Read also: Dogecoin Slips Slightly as ETF Expectations Spark a Wave of Selling

However, if profit-taking returns, this bullish outlook could fail. Under these conditions, HYPE prices are at risk of dropping to test the support level at $48.84. If this level is unable to hold, the price could continue to weaken towards the $40.54 area.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Hyper Price Hits All-Time High, User Demand Climbs. Accessed on September 19, 2025