
Title: Hyperliquid Price Prediction: Can It Hit $90 This Year?
Hyperliquid has been making waves in the crypto space with its impressive growth and performance. In recent times, it has been trading at $42.18, which is a significant increase of 6.5% over the past 24 hours. Additionally, it has seen an astonishing 23% growth this week, 68% growth over the past month, and a whopping 1,596% rise in the last six months.
It is essential to highlight that Hyperliquid’s technical indicators currently display a neutral sentiment with a slightly bullish tilt. Furthermore, momentum indicators such as MACD and Momentum are showing upward strength, while most moving averages are strongly positive. This overall trend suggests a positive outlook for the asset.
A key factor contributing to Hyperliquid’s remarkable growth is its impressive revenue figures. The platform has generated $64.8 million in revenue over the past 30 days, which surpasses major players like Ethereum and Tron. What sets it apart from other projects is that an astonishing 97% of this revenue goes directly towards buying back HYPE tokens, rewarding holders in the process.
Despite its strong fundamentals, analysts suggest a potential short-term pullback around $36 or even $30. This dip could be seen as a healthy reset after Hyperliquid’s recent price surge. However, it is essential to note that even if Hyperliquid cools off, a quick recovery remains plausible due to its robust financials.
Twitter user MetamateDaz (@MetamateDaz) recently tweeted about the situation, highlighting the holders’ calm and confident demeanor during this price increase. This unusual lack of unstaking activity on Hyperliquid is highly unusual and may contribute to the asset’s continued upward momentum.
Expert predictions suggest that Hyperliquid could break its previous high of $43.86 and potentially hit a staggering $90.72 by year-end. The primary factors driving these predictions are the anticipated rise in platform usage, enhancements to the smart mobile app, and the dominant 70% share it holds in the global DEX derivatives market.
Additionally, Hyperliquid recently achieved an incredible $11 billion daily volume in late May and has since reached a staggering $10.1 billion open interest. This marks a significant milestone, as Hyperliquid is now the fifth-largest player in the derivatives trading space, with a potential to rival top exchanges like Binance. Notably, this recent listing rumor-fueled growth boosted Hyperliquid’s trading volume by 20%.
Considering its impressive revenue figures and growing interest, it seems plausible that Hyperliquid could reach $90 or more within the year.
Source: coinpedia.org