Overview
- Hyperliquid reported total open interest near $11 billion and a new all‑time high of about $3.6 billion in real‑world‑asset perpetuals, reflecting rapid growth in tokenized traditional‑asset trading.
- The HYPE token has pulled back into a critical support zone around $64–$65 after repeated rejection near $67.8 with the 50‑day moving average acting as the immediate technical floor.
- HYPE ETFs recorded a ninth straight week of inflows of roughly $10.36 million, and the protocol routes most trading fees into an Assistance Fund that conducts open‑market buybacks of HYPE.
- Short‑term futures metrics show rising pressure with a recent 24‑hour drop in open interest, about $2.48 million in long liquidations, and a sharply lower funding rate that favors short positions.
- Broader market risks such as Bitcoin’s ability to hold around $63,000, U.S. macro data, and geopolitical events could trigger further volatility even though buybacks, staking locks, and profitable treasuries reduce forced selling risk.