Hyperliquid becomes ‘most liquid venue for crypto price discovery’- What does it mean?

ambcryptoPublicado a 2026-01-27Actualizado a 2026-01-27

Resumen

Hyperliquid has achieved significant traction, becoming a leading venue for crypto price discovery with deeper liquidity than Binance, according to its founder. The platform has seen over $1 billion in trading volume for its equity perpetuals and near-record open interest of $800 billion. Its native token, HYPE, surged 24% to $28, though it faces a key resistance level. Analysts suggest the recovery is supported by eased selling pressure from monthly unlocks and whales, as well as substantial accumulation by top buyers. However, sustained price growth depends on increased platform revenue driving token buybacks.

Hyperliquid has recorded remarkable traction in equity and crypto perpetuals (perps). Perps are contracts that allow traders to speculate on price movements without a fixed maturity.

The recently deployed equity perps (HIP-3), which allow traders to bet on traditional stocks with leverage, have crossed $1 billion in trading volume.

Additionally, the daily Open Interest (OI) was nearing a record high of $800 billion. This further underscored strong demand despite an overall lull in the crypto market.

On Bitcoin perps, Hyperliquid founder Jeff Yan said,

“Hyperliquid has quietly achieved an important milestone of becoming the most liquid venue for crypto price discovery in the world.”

He cited the platform’s liquidity depth, which showed thicker order books than Binance. But will this boost the native token’s recovery?

Will HYPE extend its 24% recovery?

Following the update on the massive traction, HYPE posted a 24% jump in the past 24 hours. It rose from $22 to $28. But it also reached an overhead hurdle that may derail further recovery if bulls fail to clear it.

The $28 price area (red zone) has been a key short-term supply pressure since mid-December and may block bulls again if momentum falters at the level. If they clear it and top $30, then a clear run to $35 may be feasible.

What could drive HYPE’s recovery?

Overall, HYPE was still down 52% from its record high of $59 hit in September 2025. But according to analyst Ericonomic, some of the bearish catalysts that drove the downtrend have significantly eased.

The feared monthly unlocks (9.92 million HYPE), for example, saw only 10% of the supply sold off in the past two months. For Ericonometric, this was a ‘trickle’ rather than a ‘cliff’ that was priced in during the late 2025 dump.

The only problem, the analyst added, was that Hyperliquid Strategies was accumulating these team unlocks. This could limit the treasury firm’s ability to buy more HYPE off the spot market directly.

Besides, several whales, including Fasanara Capital, Tornado Cash player, and Continue Capital, have been persistent sellers, but the pressure had eased, the analyst noted.

The top 10 buyers had accumulated nearly $200 million in HYPE in the past 30 days, further helping stabilize prices above $20.

Finally, a significant portion of long leveraged positions have been wiped out and have presented a structural setup for a bullish recovery. However, the platform’s revenue was still muted despite growing traction.

For a sustained price recovery to be possible, Hyperliquid’s revenue neeeds to reverse higher to drive more HYPE buybacks.

Final Thoughts

Hyperliquid’s founder said the platform now rivals Binance as the most liquid venue for crypto price discovery.
Analysts believe HYPE’s recovery was likely amid overblown monthly unlock fears and easing selling pressure from whales.

Preguntas relacionadas

QWhat milestone did Hyperliquid founder Jeff Yan claim the platform has achieved?

AHyperliquid has become the most liquid venue for crypto price discovery in the world.

QWhat type of contracts, specifically mentioned in the article, have seen over $1 billion in trading volume on Hyperliquid?

AEquity perpetuals (perps), which allow traders to bet on traditional stocks with leverage.

QWhat was the key overhead price hurdle for the HYPE token that could block further recovery?

AThe $28 price area, which has been a key short-term supply pressure since mid-December.

QAccording to analyst Ericonometric, what was the feared monthly token unlocks actually like, and how much was sold?

AThe unlocks were a 'trickle' rather than a 'cliff,' with only 10% of the supply sold off in the past two months.

QWhat does the article state is necessary for a sustained price recovery of the HYPE token?

AHyperliquid's revenue needs to reverse higher to drive more HYPE buybacks.

Lecturas Relacionadas

iQiyi Is Too Impatient

The article "iQiyi Is Too Impatient" discusses the controversy surrounding the Chinese streaming platform IQiyi's recent announcement of an "AI Actor Library" during its 2026 World Conference. IQiyi claimed over 100 actors, including well-known names like Zhang Ruoyun and Yu Hewei, had joined the initiative. CEO Gong Yu suggested AI could enable actors to "star in 14 dramas a year instead of 4" and that "live-action filming might become a world cultural heritage." The announcement quickly sparked backlash. Multiple actors named in the list issued urgent statements denying they had signed any AI-related authorization agreements. This forced IQiyi to clarify that inclusion in the library only indicated a willingness to *consider* AI projects, with separate negotiations required for any specific role. The incident, which trended on social media with hashtags like "IQiyi is crazy," is presented as a sign of the company's growing desperation. Facing intense competition from short-video platforms like Douyin and Kuaishou, as well as Bilibili and Xiaohongshu, IQiyi's financial performance has weakened, with revenues declining for two consecutive years. The author argues that IQiyi is "too impatient" to tell a compelling AI story to reassure the market, especially as it pursues a listing on the Hong Kong stock exchange. The piece concludes by outlining three key "AI questions" IQiyi must answer: defining its role as a tool provider versus a content creator, balancing the "coldness" of AI with the human element audiences desire, and properly managing the interests of platforms, actors, and viewers. The core dilemma is that while AI can reduce costs and increase efficiency, it risks creating homogenized, formulaic content and devaluing human performers.

marsbitHace 49 min(s)

Jensen Huang Publicly Challenges Google and Amazon, Is the Chip Business Entirely Sustained by Anthropic?

In a candid interview, Nvidia CEO Jensen Huang challenged competitors like Google and Amazon, admitted past strategic errors, and criticized U.S. export controls on AI chips. He framed Nvidia’s role as turning “electricity in, tokens out,” emphasizing the complexity and value of AI inference. Huang dismissed rival custom chips like Google’s TPU and Amazon’s Trainium as inflexible and niche, claiming their growth relies heavily on clients like Anthropic. He also acknowledged missing early investment opportunities in OpenAI and Anthropic. On China, Huang warned that export restrictions risk pushing the country toward self-sufficiency and could cost U.S. leadership in AI. Finally, he explained Nvidia’s acquisition of Groq as a move to serve premium, low-latency token markets. Throughout, Huang emphasized ecosystem trust and Nvidia’s central role in global AI infrastructure.

marsbitHace 54 min(s)

Jensen Huang Publicly Challenges Google and Amazon, Is the Chip Business Entirely Sustained by Anthropic?

marsbitHace 54 min(s)

ARK's SpaceX IPO Investment Guide: $1.75 Trillion Valuation, 95x Price-to-Sales Ratio, Where Is the Money Going?

ARK Invest, a major investor in SpaceX, provides an analysis following SpaceX's confidential IPO filing on April 1, 2026, targeting a $1.75 trillion valuation and up to $75 billion in funding for a Nasdaq listing around June 2026. This would be the largest IPO in history. The valuation implies a price-to-sales ratio of ~95x based on ~$18.5B in projected 2025 revenue. ARK argues this reflects future potential, not current reality. Key drivers include Starlink, with over 10M users and $20B+ in 2026 revenue, launch services which have reduced costs by ~95% since 2008, and the strategic merger with xAI in February 2026, enabling vertically integrated AI and orbital computing. ARK’s investment thesis is based on SpaceX's proven execution of ambitious goals, like reusable rockets and global satellite internet. The firm notes that significant value creation often occurs pre-IPO, and its Venture Fund offers exposure to SpaceX’s earlier private stages. Post-IPO, the fund will manage the position per standard lock-up and rebalancing processes, maintaining flexibility to reinvest in other private innovations. The analysis is based on public estimates and ARK research; the S-1 filing is not yet public. This is not investment advice.

marsbitHace 55 min(s)

ARK's SpaceX IPO Investment Guide: $1.75 Trillion Valuation, 95x Price-to-Sales Ratio, Where Is the Money Going?

marsbitHace 55 min(s)

Stablecoin Hype Overblown? Moody’s Says Banks Aren’t In Danger

The article discusses the legislative stalemate in the US over the Digital Asset Market Clarity Act of 2025 (CLARITY Act), which aims to regulate crypto assets. A key point of contention is whether stablecoins should be allowed to pay interest, with crypto companies opposing a ban and banks supporting it. Moody's analyst Abhi Srivastava states that, for now, stablecoins do not pose a significant threat to traditional banks due to existing efficient payment systems and the current prohibition on yield-bearing stablecoins. This limits their appeal for pulling deposits from banks at scale. However, with the stablecoin market cap exceeding $300 billion and growth in tokenized assets, banks could face future pressure from deposit outflows. The crypto industry warns that failure to pass the bill could lead to stricter regulatory crackdowns. Negotiations continue with little progress, despite both sides desiring a resolution.

bitcoinistHace 1 hora(s)

Stablecoin Hype Overblown? Moody’s Says Banks Aren’t In Danger

bitcoinistHace 1 hora(s)

Not a Price Hike, but a Supply Cut? Oil Prices Have Crossed the Tipping Point

The global oil market has passed a critical point, shifting the focus from price increases to potential physical supply shortages. The core issue is a time mismatch: even if the Strait of Hormuz reopens, shipping disruptions have already caused significant delays, which will continue to deplete onshore crude inventories for weeks. Refinery behavior acts as an amplifier. Reduced runs in Asia and Europe don’t reflect weaker demand but instead shrink product inventories, raising fuel prices and refining margins, which in turn encourages higher runs—creating a self-reinforcing cycle. If the Strait remains closed beyond April, traditional pricing models may fail. The market could face an unprecedented physical shortfall of 11-13 million barrels per day—roughly four times historical disruption levels. In such a scenario, price becomes an inadequate balancing tool. The only way to rebalance the market would be policy-driven demand destruction, similar to COVID-era lockdowns. Current prices around $95/barrel are insufficient to balance the market. Key signals to watch include inventory levels, policy announcements, and the pace of involuntary demand contraction. Geopolitically, the situation appears likely to worsen before improving, with little room for compromise between the US and Iran.

marsbitHace 3 hora(s)

Not a Price Hike, but a Supply Cut? Oil Prices Have Crossed the Tipping Point

marsbitHace 3 hora(s)

Trading

Spot

Futuros