Hyperliquid has hit new all-time highs across key metrics, including open interest, trading fees, and USD Coin (USDC) liquidity. This follows a recent surge in HYPE price which is currently taking a breather before potential consolidation. 📈
The platform’s latest record-breaking numbers include:
* Open Interest: $10.1 billion
* 24-hour trading fees: $5.6 million
* USDC TVL: $3.5 billion
These new highs come after Hyperliquid previously set records for these same metrics, with the most recent update being a 13.5% increase in open interest, a 3.7% rise in fees, and a 9.4% growth in USDC TVL in just five days. This indicates growing user activity and enhanced liquidity on the platform.
The HYPE price surge, leading up to a new ATH of $39.93 yesterday, is also worth noting. This price action has followed a classic double bottom formation that started in early March, culminating in the recent breakout with a 329% surge from its local low on April 9th.
HYPE is currently taking a breather and trading around $37.50 after declining 2% over the past 24 hours.
While HYPE’s price may target $47 in the long term, consolidation is the most likely scenario for the near future as the RSI is deep in the overbought zone at 77.
However, the underlying trend remains strong. The EMA 20 remains above the SMA 50 with a bullish crossover since mid-April, and trading volume stands at $358 million, still significant even after a decline of 25% over the past day, indicating cooled momentum in the short term.
Looking ahead,