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Hyperliquid has been making waves in the crypto market with its impressive performance lately. With a current price of $42.18, up 6.5% in the last 24 hours and a staggering 1,596% increase over the past six months, it’s natural to wonder if it can continue its upward trajectory.
At this point in time, it seems that all indicators are pointing towards Hyperliquid continuing its strong growth. Momentum indicators like MACD and Momentum show upward strength, while most moving averages are strongly bullish. This technical analysis suggests a positive trend for the cryptocurrency.
It’s worth noting that Hyperliquid has already exceeded expectations by pulling in an impressive $64.8 million in revenue over the past 30 days. To put this into perspective, it outpaced major players like Ethereum and Tron. What truly sets Hyperliquid apart from its competitors is that a whopping 97% of its revenue goes directly back into buying HYPE tokens, resulting in direct rewards for holders.
Despite the recent surge to $44, the unstaking queue on Hyperliquid remained remarkably calm, with very little sell-off activity observed. This suggests that investors are confident and patient, which could lead to even more significant gains.
Experts and analysts have been closely monitoring Hyperliquid’s performance and predict a potential short-term pullback around $36 or potentially as low as $30. However, they also emphasize that this dip would be an excellent buying opportunity for those who missed the initial surge.
Looking ahead, experts are predicting a long-term trend of growth, with some even suggesting that Hyperliquid could break its previous high of $43.86 and reach a staggering $90.72 by the end of the year. This prediction is based on the platform’s rising usage, upgrade to smart mobile apps, and its dominant 70% share in the global DEX derivatives market.
It’s clear that Hyperliquid has established itself as a major player in the crypto space, recording an astonishing $11 billion daily volume in late May and recently hitting $10.1 billion open interest. Its recent performance even caught the attention of Binance, which fueled listing rumors, resulting in a 20% boost in trading volume.
In light of this momentum, it seems unlikely that Hyperliquid’s growth will slow anytime soon.
Source: coinpedia.org
