Hyperliquid (HYPE) vs Tether (USDT)
Learn how Hyperliquid and Tether differ in their key features, market performance, and community adoption, so you can decide which cryptocurrency is best for your investment strategy.
$85.32
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Hyperliquid is a layer 1 blockchain specifically designed to meet the needs of a perpetual DEX, featuring an on-chain order book, low latency, and high execution capacity. Hyperliquid is also a DEX specialized in the perpetual contracts market and more recently the spot market. Hyperliquid is also developing HyperEVM, an EVM-compatible sidechain.
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USDT, or Tether, is a stablecoin, meaning it is a stable cryptocurrency aimed at maintaining a fixed value relative to the US dollar (USD). Launched in 2014 by Tether Limited, USDT is designed to offer the stability of a fiat currency while allowing for the speed and flexibility of transactions on blockchains. Each USDT is supposed to be backed by an equivalent reserve in dollars or equivalent assets, which helps maintain its parity with the dollar.
View Full PageKey Metrics Comparison
HyperliquidHYPE
Market Cap$18.983B
24h Volume$1.482B
Liquidity Ratio7.81%
24h Change+0.91%
7d Change+5.30%
Circulating Supply222,445,714.074
Max Supply1,000,000,000
All-Time High$88
TetherUSDT
Market Cap$183.392B
24h Volume$72.263B
Liquidity Ratio39.40%
24h Change+0.01%
7d Change0.00%
Circulating Supply183,380,584,914.267
Max SupplyN/A
All-Time High$1
Category Performance
Visual comparison across key categories. Ring fill represents relative strength or share between the two assets.
Market Share
Share of combined market cap
HYPE
9.4%USDT
90.6%Volume Share
Share of combined 24h volume
HYPE
2.0%USDT
98.0%24h Performance
Price change over last 24 hours
HYPE
0.91%USDT
0.01%7d Performance
Price change over last 7 days
HYPE
5.30%USDT
0.00%Proximity to ATH
How close to all-time high (closer is better)
HYPE
-3.1%USDT
-24.2%Liquidity Ratio
Volume to market cap ratio (higher = more liquid)
HYPE
7.81%USDT
39.40%