Hyperliquid Open Interest Hits $1.43B as HYPE Trades Near $43
Hyperliquid's open interest reached approximately $1.43 billion, driven by growth in the HIP-3 product and rising protocol revenue. HYPE token traded at $42.78 on Tuesday, up 1.6% over the prior 24 hours.
Key Takeaways
- 1## Open Interest Surge Hyperliquid's open interest climbed to about $1.
- 243 billion, reflecting increased trading activity on the protocol.
- 3The growth was attributed to expansion of HIP-3, the protocol's newer derivatives product, alongside rising protocol revenue from trading fees and liquidations.
- 4## Price Action and Levels HYPE token traded at $42.
- 578 on Tuesday, a 1.
Open Interest Surge
Hyperliquid's open interest climbed to about $1.43 billion, reflecting increased trading activity on the protocol. The growth was attributed to expansion of HIP-3, the protocol's newer derivatives product, alongside rising protocol revenue from trading fees and liquidations.
Price Action and Levels
HYPE token traded at $42.78 on Tuesday, a 1.6% gain over the prior 24 hours, according to available price data. Market participants are watching a support level near $43.50; if that holds, some analysts see potential for a move toward $45 to $50 over a near-term horizon. The token has maintained a tight intraday range in recent trading sessions.
Why It Matters
For Traders
HYPE support at $43.50 is the key near-term level; a breakdown below that point could accelerate selling toward lower technical targets.
For Investors
Rising open interest suggests healthy protocol adoption, but price forecasts in the $45-50 range lack on-chain or fundamental anchors beyond recent momentum.
For Builders
HIP-3 growth signals demand for Hyperliquid's expanded product suite; protocol teams should track whether volume is sticky or driven by near-term speculation.
