Hyperliquid takes 60% perp market share: Can HYPE’s rally last?

ambcryptoPublished on 2026-01-28Last updated on 2026-01-28

Abstract

Hyperliquid (HYPE) is gaining significant attention as its price surged to $33.8, rising 9% in 24 hours and over 50% from the previous week. The rally drivers include reduced sell pressure from major wallets linked to the Tornado Cash case and continued buying from data traders. Technical indicators like the RSI near 90 and a bullish MACD signal strong buying momentum. Additionally, Hyperliquid's perp market share has reached 60%, with founder Jeff Yan claiming its BTC liquidity now exceeds Binance. Exposure to gold and silver rallies via HIP-3, with over $1.1 billion in daily silver volume, further strengthens its position.

Hyperliquid [HYPE] is grabbing eyeballs! After heavy selling cleared out and big players stepped in, the network is now topping key charts that traders can’t ignore.

The engine is up and at it!

HYPE is on a strong run at press time, trading near $33.8 after gaining roughly 9% in the last 24 hours and more than 50% from last week’s lows.

There has been a clear breakout from the $22-$23 range, followed by a steady climb with very little pullback. The RSI was at around 90, so there was aggressive buying. Meanwhile, the MACD flipped bullish with expanding green bars.

What’s behind the rally?

A big reason is that major sell pressure has finally calmed down. Wallets linked to the Tornado Cash case and Continue Fund finished dumping millions of HYPE earlier this week. That’s cleared a major overhang.

At the same time, Data traders (DATs), including Bobby Diamond via Hyperliquid Strategies, have been buying sizable positions.

AMBCrypto previously reported that Hyperliquid founder Jeff Yan claimed BTC liquidity on the platform now exceeds Binance.

Combined with Hyperliquid’s exposure to the gold and silver rally via HIP‐3, where silver alone records over $1.1 billion in Daily Volume, the broader picture comes into focus.

Hyperliquid is pulling far ahead

Related Questions

QWhat is the current trading price of Hyperliquid (HYPE) and what are its recent gains?

AHyperliquid (HYPE) is trading near $33.8 at press time, having gained roughly 9% in the last 24 hours and more than 50% from last week's lows.

QWhat technical indicators suggest aggressive buying of HYPE?

AThe RSI was at around 90, indicating aggressive buying, and the MACD flipped bullish with expanding green bars.

QWhat major event cleared a significant sell pressure for HYPE earlier this week?

AWallets linked to the Tornado Cash case and Continue Fund finished dumping millions of HYPE, which cleared a major overhang.

QAccording to the article, what did Hyperliquid founder Jeff Yan claim about the platform's liquidity?

AHyperliquid founder Jeff Yan claimed that BTC liquidity on the Hyperliquid platform now exceeds that of Binance.

QHow is Hyperliquid exposed to the gold and silver rally, and what volume is mentioned for silver?

AHyperliquid is exposed to the gold and silver rally via HIP-3, with silver alone recording over $1.1 billion in Daily Volume.

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