Hyperliquid (HYPE) Surges 4% as Platform Dominance and Strategic Partnerships Signal Path to $45
Hyperliquid's native token HYPE is trading above $41, marking a 4% gain in the past 24 hours as the decentralized derivatives protocol
Quick overview
- Hyperliquid's native token HYPE is trading above $41, reflecting a 4% gain in the last 24 hours as the platform strengthens its market position.
- The protocol holds over 80% market share in decentralized perpetual contracts, with trading volumes skyrocketing from under $100 million to between $3 and $5 billion.
- A strategic partnership with Phantom Wallet introduces leveraged trading to 10 million users, enhancing Hyperliquid's reach and user engagement.
- Technical analysis indicates potential bullish momentum for HYPE, with predictions suggesting a rise to $45 as the platform prepares for its upcoming Hypercore upgrade.
Hyperliquid’s native token HYPE is trading above $41, marking a 4% gain in the past 24 hours as the decentralized derivatives protocol continues to solidify its market dominance. With trading volume at an all-time high and new strategic collaborations forming, technical analysis implies that the token may be getting ready to rise to $45.
Hyperliquid’s Market Dominance Drives Growing Investor Confidence
According to CoinGlass’ semi-annual crypto derivatives prognosis, Hyperliquid has over 80% of the market share in the decentralized perpetual contracts industry, making it the clear leader. The platform’s amazing development has seen average trade volumes rise from less than $100 million to between $3 and $5 billion. This shows that the protocol can draw in institutional-grade liquidity.
Over the past year, the platform has had $1.57 trillion in perpetual futures volume, which has brought in about $310 million in total revenue. June alone saw $208 billion in trade volume and almost $56 million in income, showing that the protocol can make a lot of money.
Real Yield Model Attracts Long-term Capital
Hyperliquid is successful because it focuses on “Real Yield,” which is income that comes from real economic operations instead of issuing tokens that cause inflation. The platform’s sustainable income strategy, which is based on transaction fees and a new tiered fee structure, has drawn in good traders and liquidity providers.
The protocol’s technological architecture, which is based on a proprietary Layer-1 chain and the HyperBFT consensus mechanism, allows for ultra-fast transaction finality and can handle up to 100,000 orders per second. This architecture offers the same level of performance as a centralized exchange while keeping decentralized, non-custodial characteristics.
Strategic Partnership with Phantom Wallet Expands Reach
The new “Phantom Perps” feature added Hyperliquid’s trading engine to Phantom Wallet, which was a big step forward. This arrangement gives Phantom’s 10 million monthly active users access to leveraged trading. It will start in the European Union and then spread to other parts of the world. The connection lets users trade more than 100 digital asset marketplaces with up to 40x leverage while still keeping their assets safe.
Hyperliquid is making this strategic move in preparation for its “Hypercore” infrastructure upgrade, which is set to happen later this week. This upgrade will make the platform even better at what it does as competition in decentralized derivatives heats up.
HYPE/USD Technical Analysis Points to Bullish Momentum
From a technical point of view, HYPE has shown strength by bouncing off the 50-day simple moving average (SMA) around $37.08, which means there is significant demand at lower levels. The 20-day exponential moving average (EMA) at $38.43, which is slowly going up, and the relative strength index (RSI), which is slightly above the midpoint, suggest a little positive bias.
The coin is currently trading between $36.82 and $41.23 on the four-hour chart. The immediate resistance level is at $41.23, which is an important breakout point. Technical indications say that if HYPE can break above this level, it might start a rally that takes it to $44 and then $45.80.
The 50-day SMA ($37.08) is still a key support level. If it breaks below that, it might drop to $35.33 and $30.69.
Hyperliquid Price Prediction and Outlook
HYPE looks like it will keep growing based on current technical indicators and fundamental factors. The token’s ability to stay above $41, along with more people using the platform and forming strategic alliances, suggests that it could climb up to $45 soon.
The impending Hypercore update and the ongoing growth of trading tools through partnerships like Phantom Wallet could also help prices ascend. HYPE is currently consolidating, which could be setting the way for the next leg up in its growth trajectory. Hyperliquid is still the market leader and its revenue is growing steadily.
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