The HYPE token from Hyperliquid has set a new all-time high, reaching above $44. This milestone results from increased trader interest and market speculation.
New HYPE Record and Its Market Impact
HYPE has shown impressive growth again, reaching new records at $44.70. The token has not seen significant selling pressure, and derivative traders remain optimistic.
Achievements of Major Traders and Market Expectations
One of the top HYPE holders achieved unrealized profits of over $13.93 million. They rank 58th in the trading leaderboard with over 121% profit in the last month. Open interest for HYPE exceeds $1.89 billion, and the long-short ratio indicates traders are cautious of a potential correction.
HYPE's Prospects and Market Position
HYPE continues to reflect the overall sentiment of the crypto market and may continue to rally as long as market conditions remain positive. Hyperliquid has shown the highest earnings among decentralized protocols, generating $65.3 million in earnings over the past month, with registered users surpassing 500,000.
The rise of HYPE emphasizes trader interest and positive market expectations, despite the risks associated with its volatility. With the development of Hyperliquid, further growth in volumes and interest in the token can be expected.
