Key Takeaways
Why is Hyperliquid drawing attention?
Weekly inflows rose to $25 million and revenue hit $20 million, placing it third among top-earning protocols.
What levels matter now for HYPE?
A break above $48 may clear HYPE’s path to $59 if rising MFI keeps bulls in control.
Hyperliquid [HYPE] continued its bullish rally with a 7% gain in the past day, as of writing, extending its momentum from last week, when the altcoin surged 31%.
Market fundamentals appeared strong as HYPE traded around $47 at press time, closing in on its all-time high. AMBCrypto analyzed how this could reflect on the price chart.
Hyperliquid attracts fresh liquidity
Among the top fifteen chains, Hyperliquid recorded $25 million in stablecoin inflows over the past seven days.
This coincided with a sharp rise in network participation—its Layer 1 Total Value Locked (TVL) climbed past $2.41 billion, ranking it the ninth-largest blockchain overall and seventh among Layer 1s.
Source: Lookonchain
The growth is even more evident in its perpetual trading protocol, which saw a similar pattern of capital inflow and usage.
Lookonchain reported that, within the week, Perpetual Volume surged 35.9%, reaching $58.08 billion in the market during this period.
To put this in perspective, two other major perpetual DEXs experienced mostly outflows, with Aster’s [ASTER] volume dropping 0.36%.
Profits surge across protocols and users
Moreover, Lookonchain reported that the surge in Hyperliquid’s Perpetual Volume coincided with a rise in revenue last week. Revenue reached a record $20.19 million, making it the third-most revenue-generating protocol in the market at the time.
In fact, it remained the most profitable protocol when stablecoin issuers like Tether and Circle were excluded.
Source: Lookonchain
At the same time, HYPE stakers received $90.07 million in cumulative rewards this month. The payout size signaled long-term holder confidence and limited short-term sell pressure.
This mix of revenue growth and staking yield reinforced the token’s bullish bias.
Chart setup favors a retest of highs
The technical outlook for HYPE showed the altcoin traded into a key resistance level between $47.36 and $48.88.
This level has influenced HYPE’s decline on four previous occasions. Should another rejection occur, the token could fall below the descending resistance line it recently breached.
Source: TradingView
Even so, the Money Flow Index (MFI) stood at 63.37 at press time, showing continued inflows and suggesting that investors viewed the asset as undervalued.
A breakout above this range could clear the path toward its previous all-time high near $59. Failure to do so might pull the price back under the descending resistance line it recently reclaimed.
