Hyperliquid slowly builds up a name in the Decentralized Finance (Defi) sector. In August, according to Defillama, the platform registered nearly $ 400 billion in eternal trading volume and more than $ 106 million in income.
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This milestone not only cementes the Dominance of Hyperliquid in the decentralized Perpetuals market, where it now checks around 70% of the market share, but also indicates the growing acceptance by both retail and institutional investors.
An important engine of this success is the own hyperevm -blockchain, designed for speed, scalability and zero gas costs. These functions replicate the performance of centralized exchanges while retaining Defi’s transparency and user guardianship, making hyperliquis an attractive alternative to platforms such as Binance or Solana-based DEXs.
Whale activity and market sentiment
Despite its strong basic principles, HypeThe native token of the platform is confronted with volatility. Currently, around $ 44 acts, Hype has been withdrawn from the $ 51 Mark, but remains on the right track for a possible outbreak. Analysts point to resistance to $ 48.73, with upward goals at $ 52, $ 55 and even $ 73 as a bullish momentum persist.
HYPE's price trends to the upside on the daily chart. Source: HYPEUSD on Tradingview
Whale activity has added intrigues to the prospects of the token. A whale recently deposited more than $ 3 million USDC in hyperliquid and opened a lever for a short time against hype, which caused a debate about price action in the short term.
While Short’s Care for Care suggests, derivatives data show increasing open interest and a slight long bias, which hints for sustainable optimism among traders.
Can Hyperliquid become the next “Killer App”?
Co-founder of BitMex Arthur Hayes has gone so far that he calls hyperliquid a ‘decentralized binance’, projecting that the hype token could rise more than 100x if the adoption keeps pace. The launch of a 21shares Hyperliquid ETP On the six Swiss exchange, the assembly of institutional trust also signals.
Yet there are challenges. Hyperliquid has had to deal with short malfunctions and accusations of whale manipulation in newly launched futures markets. To prevent this, the team has implemented stricter guarantees, including stricter price caps and external data integrations. These movements are intended to balance rapid growth with market integrity.
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With trading volumes rise, institutional adoption grow and technical indicators that indicate a potential expansion of the hype to $ 55, is hyperliquid at a determining moment. If the momentum retains while tackling the risks, it could confirm itself as cryptos’s next real ‘killer app’.
Cover image of Chatgpt, Hypeusd -Graphic on TradingView
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