Multicoin Capital Puts Its Weight Behind Hyperliquid Amid Steep Growth

Investment firm Multicoin Capital has identified Hyperliquid ($HYPE) as one of its largest holdings, based on a comprehensive reassessment of the protocol.

The firm attributes its high-impact assessment to significant growth in liquidity and developer activity surrounding Hyperliquid, a decentralized perpetuals exchange protocol.

This development highlights continued institutional interest in Hyperliquid, which is currently priced around $80 with a 24-hour volume ranging between $1.1 billion and $1.2 billion, and a market cap estimated at $18 billion to $20 billion.