A significant investor has just transferred $3.38 million in USDC to Hyperliquid, with the intention of acquiring some HYPE tokens. Up to this point, they have already obtained 116,147 HYPE tokens, allocating $2.36 million at an average cost of $20.31 for each token. It appears that someone is making a substantial wager on HYPE!
Open interest (OI) on Hyperliquid demonstrates that traders in derivatives are also boosting their positions. HYPE’s OI has grown by 1.11% over the past day. This is a positive sign, suggesting increasing attention in the digital asset. It implies that HYPE could keep increasing in value in the near future.
The present optimistic feeling within the Hyperliquid market points to greater purchasing demand, which is shown in the asset’s escalating cost.
The digital asset has maintained its worth above the crucial support threshold of $18.54. If Hyperliquid can sustain its cost above this point, it will probably continue to climb and perhaps surpass the main resistance objective of $25.72.
Put differently, should purchasing demand keep exceeding selling demand, HYPE’s worth might continue to ascend towards the $25 area. If this is achieved, such an increase would place the asset in a rising pattern. Toncoin (TON) Value Forecast for March 26th
Nicholas Otieno is a financial technology writer who focuses on the cryptocurrency space. Since 2019, he has authored pieces that present cryptocurrencies to readers and their considerable beneficial influence on worldwide affluence. Nicholas possesses Bitcoin and strongly trusts in its core principles.
His writings have appeared in Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, among other outlets. When not writing, Nicholas likes performing household tasks, being with companions, hearing songs, and viewing football.
