HYPE reclaims key level after 23% rally, trading at $28 as HIP-3 open interest hits $790M and whales remove supply from exchanges.
HYPE reclaims key level after 23% rally, trading at $28 as HIP-3 open interest hits $790M and whales remove supply from exchanges.Hyperliquid’s token HYPE has surged 23% over the past 24 hours, pushing the price action into a zone that could decide the next trend.
The move follows growing interest in HIP-3 activity and a sharp rise in trading volume and open interest.After weeks of choppy price action, HYPE swept below its October 10th lows, a level that had previously acted as support. The asset has since reclaimed that zone and is now trading above it, hovering around $28 at press time. The area between $25 and $26 is being watched as a key reclaim zone.an “over and under” pattern. The price moved below the level, then quickly recovered it. Holding above this zone could confirm a reversal setup. If it fails to hold, the broader downtrend may resume. Meanwhile, recent growth in HYPE’s ecosystem is tied to HIP-3, a feature launched in October 2025. It allows developers to deploy their own perpetual futures markets using Hyperliquid’s core infrastructure. HIP-3 open interest reached an all-time high of $790M, driven recently by a surge in commodities trading.Open interest tied to HIP-3 reached $790 million, according to data shared by Hyperliquid. That figure stood at $260 million just one month ago. The rise has tracked with broader interest in commodity-linked markets, which are now tradable on the platform. Market cap for HYPE stands at $6.6 billion, with a circulating supply of 240 million tokens.Technical signals point to a possible trend shift. RSI on the daily chart is at 59. This shows increasing strength but remains below overbought levels.Bitcoin Retreats to $90K, Hyperliquid Plunges by 9% Daily: Market Watch MACD has flipped positive, with the MACD line crossing above the signal line. The histogram has turned green. These signals are often watched for early signs of directional change. The move also aligns with a break above recent consolidation.a recent $10.32 million OTC transfer involving 465,000 HYPE. The transaction, which moved tokens from Galaxy Digital, took place while buyers defended the $22–$23 zone. Exchange data from Coinglass shows a 166% increase in volume and a 29% jump in open interest, with total volume at $2.43 billion. Whales continue to remove supply from public markets, reducing immediate selling pressure.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.Olivia Stephanie is a FinTech enthusiast with a sharp insight into financial markets. Her deep interest in economics and finance drives her exploration of blockchain innovations and the evolving world of cryptocurrencies.Chinese-Language Laundering Networks Now Dominate a Fifth of Global Illicit Crypto Flows
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