Hyperliquid (HYPE), the utility token of the Hyperliquid DEX, has seen its price surge by over 50% in a week, trading at approximately $33.43, rebounding from its decline late last year. The platform dominates the decentralized perpetual futures space, boasting nearly 70% of the space's daily active users and over $8 billion in open interest. It offers leverage up to 40x, amplifying potential gains and risks, as evidenced by the massive market liquidations. Its future hinges on the activity of the cryptocurrency market and the increasing adoption of traditional on-chain finance.