Despite some recent price dips, Hyperliquid [HYPE] is attracting capital, traders are staying active, and the pace hasn’t really disappeared. So the big question is… where do we go from here?
Hyperliquid is part of the big leagues!
According to the latest inflow data, capital in crypto is concentrated in a few major ecosystems, and Hyperliquid is now one of them.
Over the past three months, Arbitrum [ARB] was ranked first with around $16 billion in inflows, followed by Ethereum [ETH] at just over $12 billion. Close behind was Hyperliquid, nearly matching Ethereum with roughly $12 billion as well.
Source: X
The gap between second and third place was surprisingly small, and far ahead of networks like Base or Polygon [POL], which were near the $1-2 billion range.
And, it’s still growing while others shrink!
While most major chains have seen capital decline over the past month, Hyperliquid is the only top-10 network with positive growth.
Ecosystems like Ethereum, Solana [SOL], and BNB Chain [BNB] all posted double-digit TVL drops. On the contrary, Hyperliquid recorded roughly a 9% hike – Its total value locked was above $2.3 billion.
Source: X
That difference matters, because users are staying and actively using the platform.
HYPE is up there
HYPE’s price has dipped over the past week, falling by around 8%. The altcoin moved within a tight range, with indicators like the RSI at near neutral levels. There seemed to be a lack of strong confidence, which is required for a decisive move in any direction.
Source: TradingView
However, the derivatives numbers looked much better though.
Open interest held steady at around $1.12 billion, and funding rates turned positive again. There seemed to be growing bullish sentiment too.
Source: Coinalyze
At the time of writing, despite some short-term weakness, HYPE was still up roughly 25% year-to-date.
That makes it one of the year’s surprise performers so far. Hence, traders could maybe start preparing for another move higher!
Final Summary
- Hyperliquid has been emerging as a top capital hub over the past few months.
- Native token is already up 25% YTD!