HYPE Price Attempts Breakout Past $90 as Hyperliquid Perpetuals Volume Nears $240 Billion
Key Takeaways
- •HYPE gained approximately 10% in 24 hours on Sept. 18, recovering from the $75–$77 support area to trade around $86–$87 as it approached resistance near $90.
- •Analyst Crypto Patel flagged a higher-timeframe close above $90 as the condition needed to confirm the uptrend, cautioning that failure to reclaim that level could push the token back toward the $60–$50 zone.
- •A single whale address withdrew 55,800 HYPE worth about $4.65 million from Coinbase, lifting its nine-day accumulation to 107,940 tokens valued at roughly $9.11 million.
- •Hyperliquid topped public chains with nearly $240 billion in perpetual futures volume over the past 30 days, outpacing Arbitrum at $47.2 billion, Solana at $46 billion, Lighter at $45.6 billion, Ethereum mainnet at $44.9 billion, and edgeX at $42.3 billion.
- •Real-world asset perpetual futures volume across major exchanges climbed from about $85 billion in January to roughly $470 billion in June, while Hyperliquid's HIP-3 markets grew from around 2% to nearly 50% of its perpetual futures activity.
HYPE, the native token of the decentralized exchange Hyperliquid, climbed roughly 10% over 24 hours on Sept. 18 as the token pressed into a key technical resistance zone near $90. It traded around $86–$87 after rebounding from the $75–$77 region earlier in the week. At the same time, Hyperliquid remained one of the largest on-chain perpetual futures venues, with roughly $240 billion in trading volume over the past 30 days. As the exchange's native asset, HYPE is closely watched alongside that derivatives activity, which serves as the platform's core usage metric.
A sustained break above $90 could support further upside toward $100 and beyond, according to the report, though the level has yet to be decisively reclaimed.
HYPE Attempts Major Breakout Past $90
After retesting support near $76, HYPE has resumed its uptrend and is now attempting to break past a bearish order block around $89–$90. The day's rally came as daily trading volume crossed $1.33 billion.
Derivatives data from Coinglass shows that HYPE's open interest — the total value of outstanding futures positions — has surged to $3.26 billion, while 24-hour short liquidations have climbed to $4.90 million.
Analyst Crypto Patel noted that Hyperliquid must break past the crucial bearish block to confirm the uptrend, adding that HYPE 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. With the token sitting just below the block, that higher-timeframe close is the immediate condition to watch for the setup.
Whale accumulation of HYPE is also continuing 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. Over the past nine days, the same wallet has accumulated a total of 107,940 HYPE, valued at around $9.11 million. Flows of this kind, which move tokens off centralized exchanges, are widely tracked alongside price and derivatives data as an accumulation signal.
Hyperliquid Tops Perpetual Futures Volume Rankings
According to CryptoRank data, Hyperliquid ranked first among public chains and ecosystems by perpetual futures trading volume over the past 30 days. The platform recorded trades worth nearly $240 billion during the period, outpacing 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. With the chasing pack clustered within roughly $5 billion of one another, the gap to Hyperliquid underscores how far ahead the leading platform currently operates.
Hyperliquid Expands Lead in Real-World Asset Volume
Real-world assets (RWAs) contribute a major share of the trading activity taking place on Hyperliquid. HIP-3 markets — launched under Hyperliquid's HIP-3 framework for deploying new perpetual markets on the exchange — 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 — a concentration that shows how quickly the segment has grown from a niche corner of the market into a core driver of derivatives volume for the largest platforms.
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.
Source: The Market Periodical
