Hyperliquid vs Tether
Hyperliquid (HYPE) ranks #10 by market capitalization at $18.7B and Tether (USDT) ranks #3 at $183.4B, as of September 5, 2026. Hyperliquid has a fixed maximum supply of 1.0B HYPE; Tether has no fixed supply cap. Hyperliquid is available on 21 exchanges we have verified and Tether on 21; 12 list both.
Verified How we verify
Side-by-Side
 Hyperliquid |  Tether | |
|---|---|---|
| Market cap rank | #10 | #3 |
| Price | $84.08 | $1.00 |
| Market cap | $18.7B | $183.4B |
| Fully diluted valuation | $80.4B | $188.9B |
| 24-hour volume | $1.2B | $61.8B |
| Circulating supply | 222.4M HYPE | 183.4B USDT |
| Maximum supply | 1.0B HYPE | No fixed cap |
| All-time high | $88.06 (September 3, 2026) | $1.32 (July 23, 2018) |
| Change from all-time high | −4.5% | −24.4% |
| 7-day change | +2.8% | 0.0% |
| 30-day change | +49.4% | +0.1% |
| Category | layer-1 | stablecoin |
| Chains | the Hyperliquid network | 11 chains including Ethereum, Klay Token, and Tezos |
| Launched | — | — |
Where You Can Buy Each
| Hyperliquid | Tether | |
|---|---|---|
| Exchanges listing it | 21 | 21 |
| Countries and US states with a ranked buy page | 70 | 70 |
12 exchanges list both; 70 locations have a ranked buy page for both.
Frequently Asked Questions
- Which has the larger market cap, Hyperliquid or Tether?
- Tether, by about 9.8× as of September 5, 2026: $18.7B for Hyperliquid against $183.4B for Tether.
- Does Hyperliquid or Tether have a fixed supply?
- Hyperliquid is capped at 1.0B HYPE; Tether has no fixed maximum supply.
- Where can I buy both Hyperliquid and Tether?
- 12 exchanges we have verified list both. Pick your location on the buy pages to see which serve you and what a $500 purchase costs.