Hyperliquid (HYPE) has flipped the script — sellers have largely exited and buyers are piling in, pushing the token into the spotlight. Price and momentum - HYPE was trading around $33.80 at press time, up roughly 9% over the past 24 hours and more than 50% from last week’s lows, according to TradingView. - The token broke out decisively from the $22–$23 range and has climbed with minimal pullbacks. Technicals show very aggressive buying: the RSI sits near 90 and the MACD has turned bullish with expanding green bars. What changed on-chain - Heavy sell pressure that weighed on HYPE earlier in the week appears to have eased. Wallets tied to the Tornado Cash case and the Continue Fund dumped millions of HYPE, clearing a major overhang. - At the same time, data traders (DATs) — including notable buyer Bobby Diamond via Hyperliquid Strategies — have been accumulating sizable positions, providing a counterweight to earlier selling. Platform momentum and market share - Hyperliquid’s founder Jeff Yan has said BTC liquidity on the platform now exceeds Binance’s (as previously reported by AMBCrypto). The platform’s HIP‑3 product gives it exposure to the current gold and silver rally; silver alone reportedly records over $1.1 billion in daily volume. - These flows show up in market share figures: Hyperliquid now controls roughly 60% of all tokenized-asset perpetual trading volume (about $1.77 billion), edging out Binance and other competitors. - Open Interest (OI) also reflects the shift, with Hyperliquid holding nearly $850 million — roughly 58% of total OI — putting it well ahead of rivals. Why it matters - Higher trader counts and growing liquidity typically tighten spreads and deepen markets, which can attract even more capital and reinforce momentum. If liquidity and order flow sustain, the platform could continue to consolidate market share in tokenized perpetuals. Disclaimer - This report is informational and not investment advice. Cryptocurrency trading carries high risk; always do your own research before making decisions. (Sources: TradingView, X, AMBCrypto) Read more AI-generated news on: undefined/news

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