The Hyperliquid (HYPE) token continues to showcase powerful growth, reaching a record high of $42.53. This article examines the token's achievements, technical analysis, and significant whale activity.
HYPE Coin Reaches New Heights
The Hyperliquid (HYPE) token has once again surpassed the $42 mark, reflecting strong investor interest and a rapid resurgence in the DeFi market. This growth is supported by consistent trading volume and open interest from both retail and institutional investors.
HYPE/USDT Technical Analysis
On the HYPE/USDT daily chart, the price has surged over 350% since bottoming near $9.29 in early April, forming a steep parabolic curve. While the asset shows strength, high indicator values also suggest a potential correction in the near future. The Relative Strength Index (RSI) is at 73.51, signaling potential overbought conditions.
Whale Activity and Rising Metrics
Significant whale activity continues to support HYPE's price, with several wallets recording over $40 million in long positions on HYPE. The total open interest in HYPE futures has reached $1.89 billion, indicating strong trader interest. Metrics such as total value locked (TVL) at $1.73 billion and annual revenue of $851 million validate Hyperliquid’s strong position within the DeFi space.
The HYPE token shows impressive growth and active support from investors. Despite the positive trend, caution is advised when trading as a correction may be possible.
