Metamask perps expand to Hyperliquid – Will HYPE break $60?

Key Takeaways

How will MetaMask’s integration affect HYPE’s growth?

MetaMask’s large user base will bring more liquidity and adoption for Hyperliquid 

How will HYPE holders benefit from the integration? 

It means more fees that will help buy back and burn more HYPE, which could boost the token’s value. 

MetaMask is planning to offer perpetual markets powered by Hyperliquid [HYPE]. 

This would be the third wallet provider, after Solana [SOL]-focused Phantom and Ethereum [ETH]-based Rabby wallets, to leverage Hyperliquid’s growing ecosystem. 

Perpetual or perps allow users to bet on price movements with leverage, offering the chance of multiplying the user’s profit and losses.   

Given that MetaMask is planning to launch a token, users could jump on it to earn the rewards (airdrops), further driving traction for Hyperliquid, according to an analyst.  

Source: X

Will Hyperliquid’s growth boost HYPE?

Hyperliquid DEX and chain was launched late last year, but has grown to rival established chains and centralized exchanges like Solana and Binance [BNB].

In particular, the DEX’s successful perpetual markets have since attracted other platforms to plug into the liquidity via ‘builder codes.’

Third parties can offer perps to users on their interfaces, but under the hood, they are using Hyperliquid.  

So far, the number of new Hyperliquid users has hit a daily average of 3000 in H2 2025. The cumulative new users have climbed from 525K to nearly 700K over the same period. 

Source: Hyperliquid Stats

In terms of capital flows, about $6B has entered the platform in less than two years, further reinforcing its traction. 

And HYPE holders are the greatest beneficiaries of growth. Over 90% of earned fees help fund HYPE buybacks that reduce supply and boost its value. 

In fact, the platform has launched its stablecoin USDH that will keep yield within the ecosystem and further help with the buyback program. 

On the back of these catalysts, HYPE has a positive outlook in the mid-term despite the recent pullback on the price charts. On the price charts, the $50 level was a key support to hold to confirm further upside above $60. 

Source: HYPE/USDT, TradingView

Interestingly, the Options market positioning echoed this outlook. The 25-Delta Skew for 1-week tenor (red) slipped to the negative but recovered slightly.

It meant a short-term premium for puts (bearish bets for hedging) over calls (bullish bets). In other words, short-term caution. 

However, in the mid-term, the 1-month tenor was relatively flat and positive, suggesting a neutral to positive outlook in the mid-term.

Simply put, HYPE could attempt a shot at $60 or higher in the next few weeks or days. 

Source: Leavitas