Hyperliquid HYPE volume doubles 100% as price slides 8% to $55

HYPE trading volume surged 100% to $455 million in 24 hours as the token fell 8% to $55.50, CoinGecko data show.

"The divergence between rising volume and falling price points to distribution pressure across major exchanges," analysts at The Block Research said. "Elevated turnover suggests active position adjustment rather than passive holding."

The 24-hour range spanned $54.77 to $60.35, with the token now trading 28% below its all-time high of $76.87 set on June 16. Market capitalization stood at $14.01 billion, placing HYPE among the top 10 cryptocurrencies by value. Circulating supply is estimated at 222 million to 252.6 million tokens against a maximum supply of about 1 billion, giving the asset a fully diluted valuation between $52.5 billion and $55 billion.

Hyperliquid operates as a high-performance Layer-1 blockchain built for decentralized perpetual futures and spot trading, featuring a fully on-chain order book. The volume surge comes as broader altcoin markets face headwinds, with Bitcoin trading near $67,000 and Ethereum below $3,200 as of 06:00 UTC. The next support zone sits around $54, a level tested during the latest session. A break below that could open a path toward $50, while a recovery above $60 would signal renewed buying interest.

This article is for informational purposes only and does not constitute investment advice.