HYPE Price Attempts A Breakout Past $90 As Hyperliquid Trading Volumes Hit $140 Billion

HYPE price climbed roughly 10% over 24 hours on Sept. 18 as Hyperliquid approached a key technical resistance zone near $90.

The token traded around $86-$87 after rebounding from the $75-$77 region earlier this week. At the same time, Hyperliquid remained one of the largest onchain perpetual futures venues, with roughly $240 billion in 30-day trading volume.

Onchain data also showed one whale-linked wallet withdrawing more than $9 million worth of HYPE from Coinbase over nine days.

HYPE Price Attempts Major Breakout Past $90

After retesting the support at around $76, HYPE price has resumed the uptrend again, looking to break past the bearish order block around $89-$90. Today’s Hyperliquid rally comes with the daily trading volume crossing $1.33 billion.

The derivatives data on Coinglass shows that the HYPE open interest has surged to $3.26 billion, whereas the 24-hour short liquidations have shot to $4.90 million. Analyst Crypto Patel noted that Hyperliquid should break past the crucial bearish block to confirm the uptrend.

He noted that the HYPE price should secure a higher-timeframe close above $90. According to the analyst, a failure to reclaim the $90 level could send HYPE back toward the $60-$50 support zone.

Furthermore, whale accumulation of HYPE continues at a strong pace. Data from Onchain Lens showed that a whale address ending …..22aA41 withdrew another 55,800 HYPE, worth approximately $4.65 million, from Coinbase. Just over the past nine days, the wallet has accumulated a total of 107,940 HYPE, worth around $9.11 million.

Hyperliquid Futures Trading Volume Crosses $240 Billion

As per the data from CryptoRank, Hyperliquid ranked first among public chains and ecosystems by perpetual futures trading volume over the past 30 days. During this period, the platform recorded trades worth nearly $240 billion, beating the second-best platform, Arbitrum, by a margin of nearly 5x.

Arbitrum ranked second with $47.2 billion, followed by Solana at $46 billion and Lighter at $45.6 billion. Ethereum mainnet recorded $44.9 billion, while edgeX posted $42.3 billion in perpetual futures volume over the same period.

Hyperliquid Boosts Domination in Real-World Assets (RWA)

RWAs or Real-World assets, contribute a major share of trading activity taking place on Hyperliquid platform. The HIP-3 markets increased from roughly 2% of perpetual futures volume in January to nearly 50% earlier this summer.

RWA perpetual futures volumes across exchanges reached approximately $470 billion in June, up from $85 billion in January. Binance, Hyperliquid and OKX accounted for more than 80% of the category.

This article is for informational purposes only and does not constitute financial or investment advice. Technical levels, exchange flows and analyst targets do not guarantee future cryptocurrency performance.