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Hyperliquid’s robust fundamentals could set the stage for a renewed bullish impulse.  The on-chain order flow and OI expansion could be early indicators of a potential trend reversal. When discussing success stories in crypto, Hyperliquid [HYPE] frequently emerges as a prime example.  Over the past three months, the platform has averaged $6.4 billion in daily trading volume. In fact, positioning it above 50% of Bybit and OKX’s volumes.  Despite this, HYPE currently trades -54% below its cycle peak of $35. According to AMBCrypto, this anomaly suggests the token’s pullback is likely a byproduct of macro-driven liquidity compression, rather than any protocol-level deterioration. Could this position Hyperliquid to capture greater market share if risk-on sentiment returns to the broader crypto ecosystem? Volume profile supports further expansion HYPE is currently consolidating around the $16.30 level. It is a key inflection zone that served as a distribution ceiling in the March cycle, leading to a rapid 40% retracement to sub-$10 levels within two weeks.  However, unlike the prior rejection, the current volume profile shows no signs of climaxing activity or distributional divergence.  In fact, Hyperliquid continues to post robust throughput, averaging $6.4 billion in daily volume.  As of press time, Bitcoin’s OI [Open Interest] on Hyperliquid was $1.4 billion, which is 15% of Binance’s $9.2 billion, 46% of OKX’s $3 billion, and 25% of Bybit’s $5.6 billion. To put that into perspective, Jupiter Perps — Hyperliquid’s closest competitor — averaged $704 million in daily trading volume, 88% lower than Hyperliquid. Source: Blockworks Research The chart above is a testament to HYPE’s growing market penetration in the perp DEX landscape.  Over a condensed timeframe, Hyperliquid has cemented itself as a critical player, exhibiting strong utilization across various liquidity and trading metrics.  Given its current price action, HYPE may be undervalued relative to its emerging…

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Filed under: News - @ April 19, 2025 8:18 am