Hyperliquid’s price remains closely tied to the platform’s dominance in the perpetual futures market.
According to recent data published by Wu Blockchain, which cites CryptoRank, Hyperliquid reported approximately $240 billion in perpetual futures trading volume over the past 30 days, significantly outpacing competing ecosystems.
Arbitrum ranked second with $47.2 billion, while Solana followed with $46 billion.
According to the data shared by Wu Blockchain, “Hyperliquid led public chains and ecosystems by perpetual futures volume over the past 30 days, with approximately $240 billion in volume.”
As of the time of writing, Hyperliquid’s native token, Hyperliquid price changed hands at $82.04, rising by 4.67% during the last 24 hours. The chart below shows the price of HYPE against the US dollar.
Also Read: Payward Expands On-Chain Trading With Hyperliquid US Perpetual Futures
Hyperliquid Price Benefits From Record Perpetual Futures Volume
The latest CryptoRank data highlights Hyperliquid’s supremacy in the perpetual futures space.
As reported by Wu Blockchain, Hyperliquid price has seen a staggering $240 billion total volume in the last 30 days, making it the leading ecosystem for on-chain perpetual futures trading.
In this regard, Hyperliquid price has significantly overtaken competitors, including Arbitrum, which had a total volume of $47.2 billion, and Solana’s $46 billion during the same period.
Also Read: HYPE Price Targets $130 as Hyperliquid Overtakes OKX in Open Interest
Hyperliquid Price Holds Strong at Key Support
As can be seen in the daily chart above, HYPE is currently trading above the key support level of approximately $77.3.
This region has seen heavy buying pressure in recent weeks as HYPE has repeatedly bounced off of it. A break below this level would be a strong bearish signal for the future performance of the token.
At the moment, it seems that buyers have greater control of the situation, as the Bollinger Bands indicator suggests a potential move towards the upper band.
Specifically, the lower band is currently at $75.91, while the middle band sits around $82.2, with HYPE trading just below that level. If the price continues its upward trend, it could soon reach the upper Bollinger Band at approximately $88.49.
In addition, the RSI, which is another popular technical indicator, currently stands at approximately 55.5. This value falls within the neutral zone, meaning there may be room for further upside before RSI approaches overbought territory above 70.
Also Read: HYPE Price Holds Above $80 With High Hyperliquid Network Activity
Open Interest Gains Momentum on CoinGlass Chart
Turning our attention to another important metric, it seems that trader participation on Hyperliquid remains elevated. More specifically, according to CoinGlass data, the open interest (OI) for Hyperliquid has recently reached approximately $6.8 billion, remaining elevated despite HYPE pulling back from its recent highs around $90.
As can be seen in the chart below, OI has steadily increased during the last month of trading. In particular, as HYPE climbed toward new highs, OI surged alongside the price action.
The most interesting aspect of this development is that traders have continued holding positions even after the recent pullback. If anything, the OI trend suggests that market participants remain actively engaged, as evidenced by recent increases that occurred alongside notable price gains.
OI is an important metric for determining the level of trader exposure and participation in the futures market. In this regard, another important factor is trading volume, which, according to CoinGlass, has remained relatively strong compared with recent levels.
Also Read: HYPE Price Eyes $90 Breakout as Hyperliquid Advances Its U.S. Regulatory Push
Hyperliquid TVL Growth Supports Ecosystem Expansion
Aside from the derivatives market, Hyperliquid’s fundamental metrics also point to growing interest in the protocol. Specifically, according to DeFiLlama, Hyperliquid currently has a total value locked (TVL) of approximately $6.7 billion, putting it among the largest DeFi protocols by locked capital.
Combined with the recent increase in trading volume, this is an important sign that more traders and capital are flowing into the Hyperliquid ecosystem.
The combination of rising TVL, strong perpetual futures activity, and elevated open interest highlights growing engagement across the platform.
What Traders Are Watching Next for Hyperliquid Price
With approximately $240 billion in 30-day perpetual futures volume, around $6.8 billion in open interest, and $6.7 billion in TVL, Hyperliquid price appears to be a serious competitor in the derivatives market.
With that said, traders interested in Hyperliquid should focus on how the price behaves in the coming days and weeks.
If HYPE begins trading above the middle Bollinger Band at approximately $82.20 and builds momentum toward the $88 region, it could strengthen the bullish case.
A similar conclusion can be reached if trading volume and open interest continue to remain elevated in the weeks ahead.
Also Read: Hyperliquid Price Holds $78 as HYPE Burn Removes $2.65M Supply
