Figure Heloc vs Hyperliquid
As of Nov 5, 2026, 05:23 AM UTC, Figure Heloc's market cap ($27.32B) is about 1.4 times Hyperliquid's ($20.00B). Since 2025-11-05, FIGR_HELOC is -0% and HYPE +116%. Figure Heloc has no maximum supply; Hyperliquid's supply is capped at 1.00B.
| Metric |  Figure Heloc |  Hyperliquid |
|---|---|---|
| Price | $1.05 | $83.53 |
| Market Cap | $27.32B | $20.00B |
| 24h Volume | $22.10M | $1.36B |
| Rank | #9 | #11 |
| Circulating Supply | 26.06B | 239.41M |
| Max Supply | Uncapped | 1.00B |
| All-Time High | $1.08 (Nov 1) | $97.96 (Sep 23) |
| Launched | N/A | N/A |
1-Year Relative Performance
Key Differences
Figure Heloc and Hyperliquid represent two distinct frontiers of on-chain finance: tokenized traditional credit versus native crypto trading infrastructure. FIGR_HELOC belongs to the real-world asset (RWA) category — it is tied to Figure's platform on the Provenance blockchain, where home equity lines of credit and private credit are standardized and tokenized. HYPE is the native token of Hyperliquid, a Layer 1 blockchain best known for its decentralized perpetual futures and spot exchange.
Their mechanics differ fundamentally. FIGR_HELOC does not operate its own consensus; it exists on Provenance infrastructure, with roughly 21.1 billion tokens fully circulating and value linked to underlying loan assets. HYPE secures its own Proof of Stake chain, is capped at 1 billion tokens with a substantially smaller portion currently circulating, and serves staking and governance functions while the chain supports a full Ethereum Virtual Machine (HyperEVM).
Ecosystem roles reflect their origins. Figure's system serves institutional debt markets: Figure Connect operates as a primary market for tokenized credit, while Figure Markets provides around-the-clock secondary trading and settlement with both crypto and fiat on- and off-ramps. Hyperliquid's ecosystem is crypto-native, spanning derivatives trading, lending, borrowing, and RWAs within its own DeFi environment.
One token brings existing lending products onto a blockchain for institutions; the other powers a purpose-built chain whose flagship product is high-performance decentralized trading.