HyperliquidHYPE

The native coin of Hyperliquid, the largest on-chain perpetual futures exchange, which runs its own blockchain.

Rank #11Since November 2024

Price on 31 Oct 2026

C$121.87 +65.2% since 31 Jul 2026 · 11.7% below its all-time high

The short version

Hyperliquid is an on-chain exchange for perpetual futures that runs on its own blockchain; HYPE is its native coin. It was built by Jeff Yan's self-funded team with no venture investors, and 97-99% of trading fees go to an Assistance Fund that buys HYPE every day. On 30 Oct 2026 ICE announced plans for a CFTC-regulated US perpetuals venue built on Hyperliquid. On 31 Oct 2026 one HYPE cost C$121.87. From 31 Jul 2026 to 31 Oct 2026 its price changed +65.2% in Canadian dollars, and it was 11.7% below its all-time high of C$137.95 set on 23 Sep 2026.^[1]

Checked 31 Oct 2026 · 23 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$137.00 (23 Sep 2026) · low C$29.18 (21 Jan 2026) · +99.6%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$121.62	US$87.12
30 Sep 2026	C$122.49	US$86.04
31 Aug 2026	C$110.99	US$80.05
31 Jul 2026	C$78.34	US$55.84
30 Jun 2026	C$94.89	US$66.80
31 May 2026	C$94.16	US$68.25
30 Apr 2026	C$54.25	US$39.95
31 Mar 2026	C$51.21	US$36.83
28 Feb 2026	C$37.47	US$27.40
31 Jan 2026	C$41.25	US$30.58
31 Dec 2025	C$35.53	US$25.94
30 Nov 2025	C$48.24	US$34.39

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$121.87^[1]
3-month change: +65.2% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 11.7% below its high of C$137.95 (23 Sep 2026)^[1]
Market rank: #11, market value about C$29.1B^[1]
Kind: Native coin · Hyperliquid (its own network: HyperCore order book plus HyperEVM)
Started: November 2024

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?NoSupply fixed at 1 billion at genesis; staking rewards come from a pre-allocated reserve^{[2, 3]}

Can anyone freeze or take coins from holders?Not disclosedNo freeze function is documented; node software is closed-source^[4]

Can the token's contract code be changed?Not applicableRuns on its own blockchain; its rules change only through network upgrades

Is the supply capped?Yes1 billion maximum set at genesis; CoinMarketCap lists 950.4M after burns^[3]

Any scheduled unlocks in the next 12 months?Yes9.92M HYPE a month scheduled for contributors, about 119M (over 30% of circulating) in 12 months^{[5, 6]}

Does a team or foundation hold over 10% of supply?YesCore contributors got 23.8% at genesis, most still unclaimed^[2]

Do network fees reach coin holders?Yes97-99% of trading fees fund daily HYPE buybacks by the Assistance Fund^[7]

Main network hacked or halted in the past 2 years?NoNo exploit of the core exchange or chain in DefiLlama's records^[8]

Is a regulator or court case targeting the coin itself?NoNo enforcement action found; US persons are restricted from using it^[9]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: Hyperliquid Labs (described as Singapore-based) and the Hyper Foundation; place of incorporation not found^[10]
Founders: Jeff Yan (ex-Hudson River Trading) and pseudonymous 'iliensinc'; self-funded, no venture allocation^{[11, 12, 5]}
Validators: 441.9M HYPE staked across 35 validators (23 Oct 2026); node software is closed-source^{[13, 4]}
US access: US persons are restricted; no CFTC application filed as of Oct 2026^[9]

Supply

In circulation: 239.41M HYPE of a 1.00B maximum (23.9%)^[1]
Fully diluted value: 3.97 times its current market value^[1]
Team share: Core contributors 23.8% (238M HYPE), vesting monthly; Foundation says most vesting completes in 2027-2028^[2]
Actual claims: 0.14M-1.13M HYPE a month in Jan-Apr 2026; 3.75M in Oct 2026, sold OTC to one buyer^{[2, 14]}
Buyback fund: Assistance Fund buys HYPE daily; it held about 44.4M HYPE by Jun 2026 (CoinShares)^[7]

Use and fees

Fees: US$903M over the past year; US$687M went to HYPE buybacks^[15]
Revenue mix: Sep 2026 revenue about US$105M; non-core income (HIP-3 markets, USDC yield) about 36%^[16]
USDC yield: About 90% of net yield on USDC collateral goes to the Assistance Fund; first payment US$14.58M^[17]

Trading

Daily trading: About C$1.2B a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 4.83% of its market value changes hands each day^[1]
20-week average: 18.7% above its 20-week average price^[1]
1-year change: +96.5% in C$^[1]^[18]

History

Not a forecast

Coins ranked 11-50 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 1,080 cases, 157 coins

46% were higher a year later^[19]

Typical result: Median -6% after a year; 61% higher after two years
Lost half or more: 25% within a year
Against Bitcoin: 12% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

1 red flag found

Red flag: Tokenomist schedules 9.92M HYPE a month for core contributors, about 119M in 12 months (over 30% of circulating); October 2026's actual claim was 3.75M.^{[5, 14, 6]}

Tokenomist models a 9.92M HYPE contributor tranche on 6 Nov 2026; Coinlaunch shows 6.43M on 1 Nov and DefiLlama none.^[20]
On 30 Oct 2026 ICE announced plans for a CFTC-regulated US perpetuals venue built on Hyperliquid, pending approval.^[21]
Three US spot HYPE ETFs launched in May-Jun 2026, from 21Shares, Bitwise and Grayscale.^[22]
The next USDC-yield payment to the Assistance Fund, put at about US$16M, was expected about 3 Nov 2026.^[23]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.