Hyperliquid’s HYPE Token Soars to New Heights as Open Interest Surges to $9 Billion!

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Hyperliquid (<a href="https://minority-mindset.com/hype-usd/">HYPE</a>) Hits New <a href="https://minority-mindset.com/ath-usd/">ATH</a> as Open Interest Climbs to $9B

The native token of Hyperliquid, denoted as HYPE, experienced a substantial surge, reaching an unprecedented peak of $37.44, following increased trading activity and regulatory involvement. This rise in value propelled its market capitalization beyond the $12 billion threshold. Additionally, the 24-hour trading volume reached $206.60 million, while the 24-hour volatility stood at 5.4%. The current price of HYPE is $19.97, with a total market cap of $6.67 billion.

Currently, HYPE is being traded at $35.96 per share and has experienced a 17.20% increase over the last 24 hours. It’s aiming to reach a price of around $50 soon.

Institutional-Scale Activity Drives Record Open Interest

Constructed upon its proprietary Layer 1 blockchain, Hyperliquid is swiftly gaining popularity amongst traders who value high-speed, permissionless perpetual trading opportunities.

This week, I’ve observed a significant surge in open interest (OI) on our platform, reaching an unprecedented level of $9.2 billion – an increase from $8 billion just two days ago as reported by CoinGlass. This escalation closely coincided with Bitcoin‘s price spike, which soared above the new all-time high of $111,800. This upward momentum propelled the overall cryptocurrency market capitalization beyond $3.6 trillion.

As a researcher examining the dynamics of Hyperliquid’s Open Interest (OI), I find it noteworthy that a significant portion is attributable to Bitcoin (BTC) derivatives. These derivatives alone accounted for an impressive $4.2 billion, representing more than 40% of the platform’s total.

Known by the alias “moonpig” in cryptocurrency circles, James Wynn, a prominent high-stakes trader, made headlines by amassing an astounding $1 billion Bitcoin long position at 40 times leverage during the market surge. However, as the market began to calm down, he opted to cash out some of his profits.

Legendary!

Top trader @JamesWynnReal’s 40x leveraged long $BTC position has exceeded 10,000 $BTC, worth $1.1B!

Entry price: $108,084.3Liquidation price: $103,640Unrealized profit: $17.5M

— Lookonchain (@lookonchain) May 21, 2025

Ethereum took the second spot with a significant $1.3 billion in Open Interest (OI), trailing only the leader. HYPE contracts earned a considerable $748 million, coming in third. Solana (SOL) had a 24-hour volatility of 2.6%, boasting a market cap of $78.04 billion and a trading volume of $3.80 billion. Meanwhile, XRP followed suit with 0.8% volatility, holding a market cap of $129.99 billion and a daily trading volume of $2.17 billion. Even the meme coin Fartcoin saw increased activity, with a 1.5% 24-hour volatility, a market cap of $1.20 billion, and a daily trading volume of $236.92 million.

In summary, the daily trading volume for Hyperliquid soared to an impressive $11.5 billion, while its revenue hit $3.4 million, as reported by DeFiLlama.

Price Action: HYPE Rockets to New All-Time Highs

Beginning from its November 2024 lows, HYPE has skyrocketed an astounding 814%. As the chart below illustrates, this upward trend appears to be persisting, with the RSI (Relative Strength Index) currently reading 84.09 – a level that indicates it’s deeply in overbought territory, hinting at potential short-term excesses or overheating.

In my analysis, I’ve observed that significant market uptrends, or “breakouts,” have often been preceded by bullish phases in the past. A potential correction or “pullback” might be beneficial for the market to consolidate its gains, paving the way for potential further upward momentum.

HYPE Daily Chart with Fib Levels | Source: TradingView

The significant targets for Fibonacci extensions, calculated from the low of $16.901 to the peak of $26.982, serve as key areas where price action may find resistance or support:

1. 38.2% extension level: approximately $28.54 (rounded to nearest cent)
2. 61.8% extension level: approximately $30.72 (rounded to nearest cent)
3. 100% extension level: approximately $34.91 (rounded to nearest cent)

These levels could potentially act as important price targets in the near future.

  • 1.618 Fib level: $33.21 – already broken convincingly.
  • 2.618 level: $43.29 – the next key resistance.
  • 3.618 and 4.236 levels: $53.37 and $59.60 – potential medium-term targets if momentum sustains.

If profits start to increase, search for potential support around the 0.786 Fibonacci retracement level at approximately $24.82 and the 0.618 level at roughly $23.31. A fall within this range might be viewed as a strong buying opportunity by bulls.

Regulatory Engagement Signals Maturity

Enhancing the momentum of the market, Hyperliquid Labs announced on Thursday that they have sent formal comments about regulatory suggestions for continuous swaps and round-the-clock cryptocurrency markets to the US Commodity Futures Trading Commission (CFTC).

The following post is from Hyperliquid Labs

At Hyperliquid Labs, we’re dedicated to propelling decentralized finance (DeFi) forward, embracing its potential to establish a more accessible, transparent, and streamlined financial ecosystem for everyone. As part of the Hyperliquid blockchain community, we have faith in DeFi’s capacity to…

[Not completed: As part of the Hyperliquid blockchain community, we have faith in DeFi’s capacity to …]

Here are a few options for completing the sentence:

1. …deliver on its mission of empowering individuals and organizations with financial tools that were previously unavailable or difficult to access.
2. …revolutionize traditional finance by providing innovative solutions that promote fairness, inclusivity, and efficiency.
3. …disrupt the status quo of centralized financial systems and foster a more equitable and distributed financial landscape.
4. …transform the way we interact with money and create opportunities for greater financial freedom and autonomy.

— Hyperliquid (@HyperliquidX) May 23, 2025

In the Decentralized Finance (DeFi) sector, regulatory engagement is scarce. However, Hyperliquid’s correspondence advocated for DeFi as a secure and efficient market model, urging the Commodity Futures Trading Commission (CFTC) to adopt decentralized infrastructure.

The team’s point was straightforward: Decentralized Finance (DeFi) platforms such as Hyperliquid not only match but often surpass conventional finance in terms of honesty, productivity, and security for users.

Note: this is a sponsored message from our partners

HYPE Hits ATH, But All Eyes Are on $SUBBD Now

With HYPE reaching its peak, SUBBD (SUBBD) is stirring up the $85 billion subscription-based content market by envisioning a groundbreaking approach. This innovative strategy merges blockchain technology, artificial intelligence, and tokenized experiences, aiming to forge an unprecedented bond between creators and fans.

The platform streamlines the digital content realm by providing AI-driven tools and a built-in Web3 token economy, which eradicates conventional hurdles, revolutionizes fan interaction, and empowers creators with greater independence.

Presale Information:

Current Price: $0.055475

Amount Raised: $482,723

Ticker: SUBBD

Blockchain: Ethereum

About $SUBBD

The SUBBD token serves as the core element in our system, enabling effortless transactions, opening up top-tier content, and providing entry to advanced AI resources. To date, the initiative has garnered more than $480K, demonstrating robust initial backing from our audience.

By being a token holder, you’ll get benefits like reduced subscription costs, earnings of up to 20% annually through staking, and the opportunity to support or elevate creators, thereby increasing their visibility while earning returns. Creators can provide advantages such as higher rankings on leaderboards, exclusive content access, and unique perks in exchange for your assistance.

The staking mechanism offered by SUBBD further enables fans to access exclusive content such as backstage videos, live broadcasts, and personalized interactions with creators.

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2025-05-23 20:30