Hyperliquid vs Tether
Hyperliquid (HYPE) ranks #10 by market capitalization at $19.5B and Tether (USDT) ranks #3 at $184.1B, as of October 12, 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 | $87.48 | $0.999 |
| Market cap | $19.5B | $184.1B |
| Fully diluted valuation | $83.6B | $189.6B |
| 24-hour volume | $493.0M | $38.3B |
| Circulating supply | 222.4M HYPE | 184.3B USDT |
| Maximum supply | 1.0B HYPE | No fixed cap |
| All-time high | $97.96 (September 23, 2026) | $1.32 (July 23, 2018) |
| Change from all-time high | −10.7% | −24.5% |
| 7-day change | −3.5% | −0.1% |
| 30-day change | +11.5% | −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 9.5× as of October 12, 2026: $19.5B for Hyperliquid against $184.1B 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.