The popularity of Hyperliquid is surging significantly, not just in terms of its price performance but also internally, as favorable market trends coincide with unprecedented expansion of its platform, particularly in critical areas.
In the last 24 hours, the cost of Hyperliquid (HYPE) has increased by 15%, now being sold for $35.50. The trading activity has significantly escalated by a staggering 130% as well.
After this recent increase, the price has surpassed the local resistance at around $28, indicating the highest point of the price range that had remained stable for about two weeks following the strong upward movement in early May, which boosted the price by 30% to approximately $25. Previously, the $28 level was a significant horizontal resistance line that held firm from late December until late February.
After shattering all resistance levels following ATH (All Time High), it seems we’re on a course to challenge the previous $35 peak again. If successful, HYPE will venture into uncharted price discovery realms.
Furthermore, today’s peak represents the fifth straight rise in prices for HYPE since it dipped below $10 in early April. Throughout this upward trend, the price has consistently stayed above both the 20 EMA and 50 SMA, with a bullish intersection between these moving averages taking place in mid-April, adding more evidence to support this upward trajectory.
The momentum appears strongly positive, as the MACD line surpasses the signal line and the histogram is increasing. The Relative Strength Index (RSI) stands at 76, indicating it’s in the overbought zone, possibly suggesting a temporary correction or stabilization period might follow.
In addition to a robust technical infrastructure, Hyperliquid’s derivatives trading platform is exhibiting remarkable expansion in crucial areas, adding credence to its optimistic forecast. Today, the platform achieved multiple record-breaking milestones: open interest touched an all-time high of $8.9 billion, daily trading fees spiked to $5.4 million, and the Total Value Locked (TVL) in USD Coin (USDC) soared to a staggering $3.2 billion.
Today, Hyperliquid achieved several new record-breaking levels:
+ Open interest reached an impressive $8.9 billion.
+ 24-hour transaction fees totaled a substantial $5.4 million.
+ The TVL (Total Value Locked) in USDC amounted to a staggering $3.2 billion.In the realm of transparent, onchain markets, Hyperliquid is paving the way for the future.
— Hyperliquid (@HyperliquidX) May 22, 2025
Remarkably high transaction fees are significant since these earnings can be channeled back into the system via token repurchases. If Hyperliquid decides to use a part of the fees to buyback HYPE tokens from existing marketplaces, it could potentially escalate the HYPE price significantly by decreasing the total supply in circulation.
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2025-05-22 11:30