Recent changes in the derivatives market have contributed to the growth of the Hyperliquid platform. However, signs of correction and shifts in trader sentiment are evident.
Volume Growth on Hyperliquid
Hyperliquid recorded impressive growth in trading volumes, increasing from $2 billion at the end of June to $18.14 billion by mid-July. However, volumes later fell to around $10 billion, indicating a decrease in traders' appetite for leverage.
HYPE Price Correction
The price of the HYPE token reached a peak of $49.8 in mid-July, up 431% from its lows. Currently, the price has dropped to $40.9, attributed to the tense market situation and growing fears among investors.
Changes in Trader Sentiment in the Market
Trading data shows that the number of short positions on Hyperliquid has risen, reaching $5.35 billion recently. This reflects a decline in trader sentiment amid market uncertainty.
In light of current changes, Hyperliquid's growth and correction may indicate a more cautious approach from traders. Current sentiments bring the market closer to expectations of greater clarity.
