- A whale added leveraged longs on HYPE, pushing open interest to $14.29B—second only to major exchanges.
- HYPE led all chains in 24h fees, beating Ethereum and Solana, thanks to its aggressive burn model.
- Price retested the $41–$42 zone and is testing the $50 barrier—breakout could trigger a run toward $75.
HYPE’s been making quiet waves lately, and now it’s up about 5% in the past 24 hours. Not a moonshot, but definitely steady. Since launch, the token’s built up some solid traction—and whales are noticing. According to a post from SpotOnChain, one smart whale with unrealized gains of around 115% just went even deeper in. They loaded up a 10x leveraged long on both HYPE and PEPE… and yeah, they also threw in 40x and 25x longs on BTC and ETH. Not exactly a conservative play.
Open Interest Pops, Fees Lead the Pack
Here’s the kicker—HYPE’s open interest (OI) shot up and now ranks sixth overall, even overtaking OKX. We’re talking $14.29 billion in OI, which is wild considering Hyperliquid uses a cashless settlement model. That kind of activity’s not normal for most newer DEXs.
At the same time, 24-hour volume hit $12.65B—solid, though still about a quarter of what OKX managed. But it’s not just volume. CoinGlass showed green funding rates too, meaning longs are paying shorts. The rate jumped from 0.0066% to 0.08%, which usually leans bullish.
What’s really driving this? Probably the platform’s revenue mechanism. Hyperliquid burns revenue from trading fees—reducing supply and pushing up token value. And in the last 24 hours, Artemis showed HYPE led all chains in fee generation, outpacing even ETH, SOL, and BTC. That’s no small thing.
Can HYPE Smash Through $50?
So where do we go from here? Technically, HYPE just bounced off the $41–$42 zone after a solid retest. That area used to be resistance but now might act as a strong base. Its recent peak at $49.87—just a breath away from the big $50—could be the last ceiling before another rally.
Volume’s been picking up again too, after a short pause where sellers had the upper hand. That dip took price back near $44 before bulls stepped in again.
Still, new all-time highs can be tricky. Sometimes coins cool off, maybe dip a bit or just chill in consolidation. If HYPE does pause, a pattern under $40 could set up the next push. And if it clears $50 cleanly? You’re probably looking at $75 next.
