Hyperliquid Sets New Records for Daily Volume and Fees
Hyperliquid has set new records in trading activity, as HYPE stays near its all-time high, fueling speculation about a possible rally.
Summary
- Hyperliquid reported a trading volume of $29 billion in the last 24 hours and generated $7.7 million in fees.
- HYPE has seen a 19% increase over the past week, currently priced at $48.57, just 1.1% away from its all-time high of $49.75 set on July 14, along with strong exchange and liquidity metrics.
- Technical indicators show bullish momentum, with all key moving averages in buy territory, hinting at a potential breakout.
Hyperliquid (HYPE) has reached new milestones, achieving $29 billion in trading volume within 24 hours and $7.7 million in fees, as highlighted in an August 15 post on X. This rise corresponds with notable improvements in various metrics, indicating increased network activity and greater investor interest.
Currently, HYPE trades at $48.57, reflecting a 19% increase over the last week and a 1.6% rise in the past day. The token stands just 1.1% below its peak of $49.75, reached on July 14, with consistent growth observed over the past seven days, maintaining a range between $40.46 and $49.13.
Institutional Momentum and Liquidity Growth
According to data from DefiLlama, Hyperliquid’s total value locked (TVL) has grown to $610 million, up from about $460 million in mid-July. Additionally, July saw a substantial increase in monthly USD inflows, rising from $21.35 million in June to $349.27 million.
Recent advancements are further spurring this momentum. On July 31, Circle announced the launch of native USD Coin (USDC) and CCTP V2 on Hyperliquid, enabling direct on/off ramps, cross-chain transfers, and improved liquidity for decentralized finance and derivatives markets.
Institutional adoption is also increasing. Anchorage Digital Bank announced on August 13 its intention to provide custody solutions for Hyperliquid’s native HYPE token, ensuring institutional-grade security on HyperEVM.
Hyperliquid Technical Overview
Strong bullish signals are positively affecting the price trajectory of HYPE. All major moving averages, from the 200-day SMA to the 10-day EMA, indicate a buying trend.
The relative strength index is at 63, suggesting a neutral position and leaving space for further upside before reaching overbought territory. The moving average convergence divergence is currently positive, and the stochastic at 87.81 reflects ongoing buying momentum.
The Bollinger Bands are tightening, with the price nearing the upper band. This indicates a reduction in volatility, often leading to a breakout. If the token closes firmly above $49.75, potential upward targets may emerge near $55, with $52 serving as interim resistance.
Support is located at $45, while a more significant demand zone appears at $42, aligning with the 20-day EMA and the mid-Bollinger band. Given that the average directional index is in the early phases of a trend, a continued rise in volume could set HYPE up for a more robust directional movement.