Blockchain project HyperEVM hits new high with 106,000 active wallets, total value locked increases to $2 billion

HyperEVM, the Ethereum Virtual Machine-compatible network, has achieved significant milestones in recent times. The network's Total Value Locked (TVL) currently stands at around $1.97 billion, nearing the $2 billion mark. This impressive figure accounts for $567 million in assets locked within HyperLend and $521 million secured by Morpho, making these two protocols a substantial part of the network's TVL, contributing more than half.

The growth in TVL is a testament to the increasing adoption of HyperEVM and suggests underlying demand that could support price resilience in the long term for the network's native token, $HYPE, which is trading at around $47.03.

The price stability of $HYPE is notable given the volatility in crypto markets over the past few months. This stability, combined with the network's ability to withstand higher demand, as demonstrated by over 106,000 active addresses in a week, strengthens its credibility with institutional and long-term investors.

The pattern of development on HyperEVM reflects growing user activity in applications. Network transfers have consistently risen through spring and summer, culminating in an active September. This increased activity is not a recent phenomenon, as the network has seen consistent growth in user addresses throughout 2025.

HyperEVM has reached a new milestone with 106,375 weekly active addresses registered between September 1st and 7th. This growth in user activity, along with stable capital inflows into DeFi protocols, provides a solid base for further growth.

The sustained growth in user addresses and liquidity indicates that HyperEVM is moving into a phase of consolidation and ecosystem maturity. The development of the network has been primarily driven by a small and focused team led by founder Jeff Yan, who emphasized maintaining a lean staff to preserve speed and a coherent company culture. The company is fully self-financed and independent, allowing it to focus on technology and community.

If transaction volumes and active addresses maintain their current momentum, HyperEVM could establish itself as a central platform for DeFi activities. With a TVL nearing $2 billion and record numbers of active addresses, HyperEVM is well-positioned to navigate market cycles and competitive pressures. This historic high for the network underscores its potential as a significant player in the DeFi landscape.

Blockchain project HyperEVM hits new high with 106,000 active wallets, total value locked increases to $2 billion