Hyperliquid (HYPE) Surges Toward $50 on Whale Bets and Strong Burn Mechanics

Sean Williams
hyperliquid

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Key Takeaways:

  • A smart whale with $73M in prior HYPE profits has opened $120.8M in leveraged long positions.
  • Hyperliquid’s open interest hit $14.29B, pushing it past OKX in global rankings.
  • HYPE’s burn mechanism, high network fees, and deflationary model support long-term strength.

A powerful move is underway in the altcoin market, and Hyperliquid’s HYPE token is leading the charge. The token surged nearly 5% in the past 24 hours, drawing attention from traders and whales alike. One notable smart whale with $73.85 million in profits from previous HYPE trades is doubling down, opening 10x leverage longs on HYPE and PEPE, alongside aggressive positions in BTC and ETH.

This wallet, now sitting on $120.8 million in long positions, currently holds over $1.17 million in unrealized profit. Such conviction from a major market player has only added fuel to HYPE’s ongoing rally.

Hyperliquid DEX Surges in Global Rankings

Hyperliquid isn’t just trending — it’s climbing. According to CoinGlass and SpotOnChain, Hyperliquid’s open interest (OI) recently soared to $14.29 billion, placing it sixth globally and surpassing OKX in the process.

In the past 24 hours, DEX volume reached $12.65 billion, signaling increasing market participation. Additionally, funding rates turned decisively positive, climbing from 0.0066% to 0.08%, an indicator of bullish momentum.

Burn Mechanism and Usage Drive Real Demand

Unlike many speculative tokens, HYPE has real utility and tokenomics working in its favor. Data from Artemis shows that HYPE generated over 51% of all blockchain fees among major chains in the last 24 hours — ahead of Ethereum, Solana, and Bitcoin.

These fees are actively used to buy back HYPE tokens, which are then burned, reducing circulating supply and applying consistent upward price pressure. This deflationary model sets Hyperliquid apart in a crowded altcoin landscape.

Also Read: Hyperliquid’s HYPE Eyes $50 After Bullish Spike

Technical Outlook: All Eyes on the $50 Level

From a technical standpoint, HYPE recently retested the $41–$42 zone, which has flipped from resistance into support. The token touched an all-time high at $49.87, narrowly missing the psychological $50 barrier.

If buying pressure persists, HYPE could break above $50 and aim for the $75 level next. On the flip side, a pullback to below $40 could provide a healthy consolidation before the next leg up.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

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