Hyperliquid [HYPE] is grabbing eyeballs! After heavy selling cleared out and big players stepped in, the network is now topping key charts that traders can’t ignore.
The engine is up and at it!
HYPE is on a strong run at press time, trading near $33.8 after gaining roughly 9% in the last 24 hours and more than 50% from last week’s lows.
Source: TradingView
There has been a clear breakout from the $22-$23 range, followed by a steady climb with very little pullback. The RSI was at around 90, so there was aggressive buying. Meanwhile, the MACD flipped bullish with expanding green bars.
What’s behind the rally?
A big reason is that major sell pressure has finally calmed down. Wallets linked to the Tornado Cash case and Continue Fund finished dumping millions of HYPE earlier this week. That’s cleared a major overhang.
At the same time, Data traders (DATs), including Bobby Diamond via Hyperliquid Strategies, have been buying sizable positions.
AMBCrypto previously reported that Hyperliquid founder Jeff Yan claimed BTC liquidity on the platform now exceeds Binance.
Combined with Hyperliquid’s exposure to the gold and silver rally via HIP‑3, where silver alone records over $1.1 billion in Daily Volume, the broader picture comes into focus.
Hyperliquid is pulling far ahead
The network now controls about 60% of all tokenized asset perpetual trading volume (roughly $1.77 billion), putting it well ahead of Binance [BNB] and every other rival.
The same shows up in Open Interest (OI). With nearly $850 million, Hyperliquid accounts for close to 58% of total OI, again leading the market by a wide margin.
Source: X
Usually, this kind of pace follows the momentum. More traders mean more liquidity, tighter spreads, and deeper markets. This attracts more capital.
Final Thoughts
- HYPE’s rally is being caused by real demand, with selling pressure gone and large wallets buying.
- With 60% market share in volume and OI, Hyperliquid is the leader.
Source: https://ambcrypto.com/hyperliquid-takes-60-perp-market-share-can-hypes-rally-last/
