Hyperliquid (HYPE) continues to demonstrate robust market performance, sustaining prices above the $40 threshold amid significant growth in perpetual futures trading dominance and substantial protocol revenue generation.
The platform has solidified its leadership in perpetuals trading, capturing 76.9% market share with weekly volumes consistently ranging between $50 billion and $75 billion. This represents a notable expansion from its 63.7% market position recorded in December.
Revenue metrics further underscore Hyperliquid’s competitive standing, generating nearly $65 million over the past month. This performance places it just behind industry giants Tether and Circle while surpassing established protocols like Tron and PancakeSwap.
Technical indicators point to consolidation with bullish potential. The Relative Strength Index (RSI) has moderated to 67.27 from a peak of 77.63, signaling reduced overbought conditions while maintaining strong buying interest. Concurrently, the BBTrend indicator improved from -4.11 to -0.9, suggesting constructive consolidation rather than underlying weakness.
Price action remains supported above the $40 level with bullish EMA alignment, targeting the $45 resistance zone. Market analysts note that a breach below the $38.2 support level could trigger a corrective move toward $32.62.