Gate News Bot Message, January 28th, according to CoinMarketCap data, as of press time, HYPE (Hyperliquid) is trading at $32.72, up 26.44% in the past 24 hours, with a high of $33.51 and a low of $20.53. The 24-hour trading volume reached $777 million. The current market capitalization is approximately $9.883 billion, an increase of $2.066 billion from yesterday.
Hyperliquid is an L1 blockchain dedicated to integrating the financial ecosystem, advocating for the construction of a unified high-performance chain to support all financial applications. Its flagship application is a decentralized exchange, featuring low fees (zero gas fees and low transaction costs), up to 40x leverage, fully transparent on-chain order book, seamless one-click trading, and more. The network block time is 0.07 seconds, with a maximum throughput of 200,000 TPS, and a daily trading volume of $6.9 billion. HYPE is the native token of the network, supporting community ownership, governance, and security rights. Following the “community first” philosophy, there are no investors, no paid market makers, and no company fees.
Important recent news about HYPE:
1️⃣ Commodity Futures Ecosystem Sparks Trading Boom to Record Highs
The HIP-3 mechanism has driven the decentralized perpetual contract market’s open interest to surpass $790 million, a new all-time high, more than tripling from $260 million a month ago. Metal contracts are exceptionally active, with silver contracts (SILVER) trading $1.102 billion in 24 hours, gold contracts (PAXG+GOLD) totaling $169 million, and copper contracts (COPPER) reaching $71.52 million in 24 hours. As global precious metal prices continue to rise, boosting safe-haven demand, these commodity derivatives markets have entered the platform’s top ten mainstream trading pairs. Hyperliquid’s total open interest has reached $8.12 billion, accounting for 48% of the total mainstream Perp DEX volume. The platform’s trading volume also remains industry-leading, with about $7.14 billion daily, making it one of the most liquid derivatives trading centers in the industry.
2️⃣ Token Deflation Mechanism and Whale Accumulation Provide Double Support
The protocol directs most trading fees to a buyback pool that continuously repurchases HYPE, with over $44 million in buybacks in the past 30 days. Additionally, when users pay fees with HYPE, the tokens are burned directly, creating a dual deflationary effect that tightens circulating supply. On-chain data shows several institutional whales are accelerating their positions, with over $10 million worth of HYPE transferred to private addresses in the past 24 hours, some through OTC channels for large trades. Major whale addresses have been building long positions with 5-10x leverage in the $25-$26 range, with one whale opening a long position of 84,900 HYPE at an average entry price of $26.15, indicating strong institutional confidence in the future market. Well-known traders like Huang Licheng are also continuously adding to their holdings, with total positions now valued at $20.8 million.
3️⃣ Market Selling Pressure Has Basically Released, Technical Reversal Looks Positive
The three main sources of previous token price suppression have largely subsided. Tornado Cash clusters hold about 4.4 million HYPE, but their daily liquidation scale is limited, with Wintermute market makers arbitraging and transferring to off-chain buyers like Resolv Labs, so actual market selling pressure is much lower than initially expected. Aggressive long leverage positions created at high levels of $45-$50 have been mostly liquidated, with remaining long liquidations below $15 totaling $150 million. The downward pressure from leverage has largely dissipated. Technical indicators show a clear reversal trend: price has broken out of a long-term descending wedge, MACD has formed a golden cross, RSI has risen above 60, and candlestick momentum has strengthened significantly, indicating robust buying power. If this momentum continues, the price may approach the $40 region.
This message is not investment advice; please be aware of market volatility risks.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
MORPHO Rockets 9% – Key Resistance Could Determine the Next Move
MORPHO surged 9% as spot trading volume jumped 52 percent in 24 hours.
Price now tests a critical $2.08 supply zone that may trigger breakout or pullback.
Growing TVL supports bullish momentum, indicating rising user confidence and ecosystem participation.
Morpho — MORPHO, has captured t
CryptoNewsLand11m ago
ETH's current key resistance levels are $2,400 and $2,600
Gate News reported that on March 16, according to on-chain analyst Ali Charts' monitoring, Ethereum spot ETFs accumulated net inflows of 83,000 ETH over the past three weeks, valued at approximately $193 million. Meanwhile, ETH price has reclaimed the $2,200 level and established it as a support level, with key resistance levels currently at $2,400 and $2,600.
GateNews30m ago
CryptoQuant Analyst: Bitcoin Price Returns Above Fair Value, Short-Dominated Pattern Reversed
CryptoQuant analyst Axel Adler Jr stated that Bitcoin price has returned to fair value, with market structure significantly transformed compared to two weeks ago. The phase dominated by bears has ended, with prices rebounding above fair value, indicating a warming market.
GateNews46m ago
BTC Short-term Decline of 0.61%: Support Level Breakdown and Leveraged Liquidations Drive Cascading Price Decline
Between 2026-03-16 08:30 and 08:45 (UTC), BTC experienced significant price movement, with a 15-minute return rate of -0.61%. The price range was 72903.3 to 73366.4 USDT, with a volatility amplitude of 0.63%. This short-cycle decline was at the upper limit of normal price fluctuations, drawing market attention and indicating increased market volatility and heightened trading activity.
The primary driver of this price movement was BTC breaking through a key short-term support level, which triggered technical stop-loss orders and accelerated a chain reaction of selling pressure that further drove prices lower.
GateNews1h ago
Avalanche Hits Key Resistance – Is AVAX Headed Toward $8.25?
AVAX struggles at $9.77 resistance, signaling potential downward movement toward support.
Strong selling pressure dominates, supported by spot outflows and derivative short positions.
A drop to $8.25 could occur if resistance holds and buyers fail to push higher.
Avalanche — AVAX, has
CryptoNewsLand1h ago
DeFiance Capital Founder: Going long on cryptocurrencies and shorting stocks trading strategies may be attractive, as USDC supply returns to a historical high
DeFiance Capital founder Arthur believes that the current stock market is priced too optimistically, and market shifts will accelerate adjustments. He thinks that Bitcoin and crypto assets present opportunities to perform amid uncertainty, and recommends a "long crypto, short stocks or high-yield bonds" strategy. Additionally, he mentioned that USDC supply has rebounded to historical highs, which may drive CRCL growth.
GateNews1h ago
