The recent price action of HYPE has demonstrated a notable recovery following a period of heightened volatility that culminated in a significant whale liquidation worth approximately $44 million earlier this week. After reaching a low of around $36, HYPE experienced a strong rebound, increasing by over 7% in the past 24 hours and currently trading near the $40 mark. This upward movement reflects a renewed sense of confidence among traders, buoyed by positive technical signals and broader market developments.
Central to this rally has been the listing of HYPE on major exchanges such as Binance and Coinbase. These listings have substantially enhanced liquidity and accessibility, facilitating increased trading activity and attracting institutional interest. The dual introduction of trading pairs like HYPE/USDT and HYPE/BTC signifies Hyperliquids’ transition from a niche derivatives platform into a more mainstream decentralized finance contender. The momentum has been further reinforced by speculation that major financial institutions, including BlackRock and Fidelity, are exploring the integration of Hyperliquids’ oracle feeds into upcoming exchange-traded fund products, underscoring growing institutional confidence.
On the technical front, HYPE’s price has begun to stabilize after testing key support levels, notably around the 200-day exponential moving average near $38. Indicators such as the Relative Strength Index are trending toward neutrality, suggesting the potential for further upward movement. Market metrics also reflect ecosystem expansion, with daily active addresses doubling over the past week and the total value locked increasing by more than 150% since late October. These developments demonstrate sustained user engagement and ecosystem growth.
With positive funding rates and rising inflows on major exchanges, sentiment remains cautiously optimistic. While the recent whale liquidation underscores the risks associated with high leverage, the swift market rebound indicates investor confidence that HYPE could revisit previous highs in the near term. Overall, the momentum suggests an evolving bullish outlook amidst ongoing ecosystem maturation.
