HYPE: The Token That’s Making Waves – Are You Missing Out on the Next Big Thing?

HYPE has pulled off a market structure break that’s got folks buzzing like bees in a clover patch.
This here decentralized exchange is seeing more trades than a flea market on a Saturday morning.

Now, let me tell you, Hyperliquid [HYPE] has taken a little tumble, losing close to 4% of its value in the last 24 hours. It’s like watching a cat fall off a fence—unexpected and a tad bit sad. The daily trading volume has also dipped by nearly 9%, which is about as welcome as a porcupine at a balloon party. This comes after a bullish market structure break on January 30, when the price climbed past $23.74, like a squirrel finding a stash of acorns.

In a previous analysis, AMBCrypto suggested that these strong gains could be the start of a larger rally. Well, I reckon that long-term bullish outlook hasn’t changed yet. The RSI is reflecting bullishness like a rooster crowing at dawn, and other metrics suggest that this DEX, with its own L1, might just be gearing up for a wild ride in the coming months.

Hyperliquid Leads the Pack, Like a Hound Dog on a Scent

Data from Artemis shows that Hyperliquid is strutting its stuff, dominating the perpetuals protocols’ trading volume like a peacock in a henhouse.

Out of a whopping $713.8 billion traded in the last three months across the top 10 protocols, Hyperliquid accounted for $419.1 billion, or 59.6%. That’s a whole lot of trading, folks!

Now, on the flip side, the total value locked (TVL) has been on a steady decline since mid-December, like a snowman melting in the sun. The token’s volume has also seen a downtrend, with a few outliers on January 10 and 20, but the perps volume has climbed higher compared to the second half of December. It’s like a rollercoaster ride—up and down, but mostly up!

In a post on X, crypto analyst Miles Deutscher pointed out that the cumulative Hyperliquid trades and total user count have been rising faster than a jackrabbit on a date. This hints at greater adoption and a “project that found a strong product-market fit.”

The volume and the number of new users saw an uptick in December, like a pot of beans on a hot stove. The volume metric has continued to grow over the past month—a sure sign of increased usage and popularity. If this steady stream of new users keeps up, we might just see more demand for HYPE and a whole lot more traction for the project.

Read Hyperliquid’s [HYPE] Price Prediction 2025-26

All in all, with its dominance in the perpetuals protocols trade volume and steady growth over the last two months, HYPE is shaping up to be a promising project that hasn’t quite reached its full potential yet. It’s bound to catch the eye of investors, especially once the price action starts strutting its bullish stuff.

2025-02-01 19:07

Hyperliquid Leads the Pack, Like a Hound Dog on a Scent

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