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Hyperliquid records historic record and indicators suggest new highs
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The decentralized perpetual trading platform Hyperliquid (HYPE) reached a new historic high this Tuesday (17), reaching $29.03. The ATH (all time high) occurs just two weeks after its official launch on November 29th.
The rally was driven by on-chain metrics that suggest a strong upward movement. THE Open Interest (OI) of the platform reached a record of US$4.3 billionwhile the Total Blocked Value (TVL) in the DeFi protocol rose to US$3.04 billionaccording to data from DefiLlama.
This performance surprised the market. After all, many analysts expected that the launch of the HYPE token would not be successful due to the massive airdrop, equivalent to 31% of the total supply with an initial value of US$4.8 billion.
However, the project has shown that it has gained a loyal community of users committed to its platform in the long term. This engagement helped the token reach a market value of US$9.6 billionsurpassing platforms such as Uniswap (UNI)according to CoinGecko.
Expanding Hyperliquid
On-chain metrics confirm the positive trend. The increase in TVLwhich came out of US$190.96 million on November 29th for US$3.04 billionshows the growing interest of investors in the Hyperliquid ecosystem.
This increase indicates that more users are depositing or using assets in protocols based on the HYPE network, a clear sign of trust in the project.
Furthermore, the Open Interest of HYPE, which surpassed US$4.3 billion on Monday, reflects the entry of capital into the market. This suggests a greater purchasing pressure and a potential continuation of the upward movement.
Another relevant factor comes from the so-called “whales” (large investors). Data from Lookonchain reveals that these whales are accumulating HYPE tokens and intensifying buying pressure. On Monday, a “whale” invested US$9.89 million in USDC to buy HYPE.
Since December 7th, this same investor has already spent US$17.08 million to acquire more than 1.02 million HYPE tokenscurrently evaluated at US$29.44 million. Two other whales followed the trend and bought more US$4.8 million and US$3.57 million in HYPE on Tuesday.
Hyperliquid records historic record and indicators suggest new highs
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Hyperliquid records historic record and indicators suggest new highs
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Hyperliquid records historic record and indicators suggest new highs
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Hyperliquid records historic record and indicators suggest new highs
