HYPE posted a 23% gain over the past 24 hours and reclaimed key technical levels, currently trading around $28. The move coincided with a sharp increase in volume and open interest, driven by activity linked to HIP-3 within its ecosystem.
According to platform data, open interest tied to HIP-3 reached $790 million, up from $260 million one month ago. The feature allows developers to deploy perpetual futures markets using Hyperliquid’s core infrastructure. The product’s expansion coincided with increased trading in commodity-linked markets.
From a technical perspective, HYPE recovered the area corresponding to the October 10 lows, a level that had previously acted as support. The $25–$26 range is now established as a key technical zone following the recovery. The daily RSI stands at 59, while the MACD shows a positive crossover, in line with a breakout from the most recent consolidation phase.
Separately, an OTC transfer worth $10.32 million, equivalent to 465,000 HYPE, was recorded from Galaxy Digital. Data from Coinglass shows a 166% increase in trading volume and a 29% rise in open interest, with total volume near $2.43 billion. The token’s market capitalization stands at $6.6 billion.
Source:
- https://x.com/HyperliquidX/status/2015812710483845519
- https://x.com/BullyDCrypto/status/2016026793363546513
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