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Hyperliquid (HYPE), it was announced that it will be integrated into the main network of HyperEVM and will start to be used as the transaction fee of HYPE.

HyperEVM, the new Ethereum compatible virtual machine focused on decentralized finance (DeFi) and futures trading platform Hyperliquid** blockchain ecosystem, has been integrated into the mainnet, and the use of HYPE as the transaction fee has attracted attention.

The newly integrated HyperEVM allows developers to migrate applications running on the Ethereum network to the Hyperliquid network thanks to (EVM) compatibility. It is also expected to expand the network's use case and increase transaction volume

HyperEVM, integrated into Hyperliquid's Layer 1 blockchain, makes the Hyperliquid ecosystem more functional by providing developers with the ability to run Ethereum-compatible smart contracts. Hyper Foundation stated that this system is secured with HyperBFT consensus and strengthens the financial infrastructure of Hyperliquid.

It was announced that with the integration taking place on the main network, spot transfers between the local platform's local cryptocurrency HYPE and the HYPE token used in HyperEVM became possible. However, it was stated that the analysis and tools related to HyperEVM have not yet been fully optimized, but real-time block data is being transferred on the S3 platform.

On the other hand, the Hyperliquid team continues to gather feedback on ERC-20 token transfers and some special transactions on the testnet. It is expected that these features will become active in future updates.

HYPE coin price may have a positive impact

With the launch of HyperEVM, it was announced that the native token of Hyperliquid, HYPE, will be used as a transaction fee on HyperEVM. This development can expand the use cases of the HYPE token while also potentially impacting the supply in the long term.

Hyperliquid, especially stands out by reaching high volumes in the decentralized futures trading space. In January, the platform's futures trading volume reached $197.88 billion, while its competitors remained at Jupiter $36.28 billion and Synfutures $16.21 billion levels. Considering the trading volume of the platform, a rally may be on the horizon for the HYPE coin.

On the other hand, the declines seen throughout Bitcoin and cryptocurrencies cast a shadow over this integration released by HYPE. Important news for prices generally have a significant impact on the market's upward recovery in the cryptocurrency market. Therefore, when the market recovers, it is predicted that this situation could have a positive impact on the price.

According to CoinGecko data, at the time of writing the news, HYPE reached a market value of $8 billion, trading at $23.6 with a 0.3% increase in the last 24 hours.