{"id":71711,"date":"2026-04-15T09:09:28","date_gmt":"2026-04-15T02:09:28","guid":{"rendered":"https:\/\/hbbgroup.net\/hype-hits-2026-high-as-hyperliquid-volumes-soar-is-the-rally-sustainable\/"},"modified":"2026-04-15T09:09:28","modified_gmt":"2026-04-15T02:09:28","slug":"hype-hits-2026-high-as-hyperliquid-volumes-soar-is-the-rally-sustainable","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/hype-hits-2026-high-as-hyperliquid-volumes-soar-is-the-rally-sustainable\/","title":{"rendered":"HYPE hits 2026 high as Hyperliquid volumes soar: Is the rally sustainable?"},"content":{"rendered":"
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Hyperliquid\u2019s native token HYPE (HYPE<\/a>) re-tested $45 on Tuesday, marking its highest value since October 31, 2025. The rally extends a 108% rally from its yearly low at $21 on Jan. 21.<\/p>\n

With HYPE price pushing toward all-time highs, market demand signals remain mixed, as weak spot buying activity threatens to slow the rally’s momentum.<\/p>\n

\"Cryptocurrencies,
HYPE\/USDT on the one-day chart. Source: <\/em>Cointelegraph\/TradingView<\/em><\/a><\/figcaption><\/figure>\n

HYPE price trend and onchain data diverge<\/h2>\n

HYPE currently trades 26% below its all-time high of $59, with relatively thin resistance between the current levels and its peak. The next liquidity zone lies between $52 and $48 and could be reached if momentum sustains. However, the HYPE spot and futures trading data suggest the rally is not entirely conviction-driven.<\/p>\n

The spot cumulative volume delta (CVD) has gradually declined to -$41.48 million, even as prices have risen. This divergence suggests the rally is being supported more by passive demand without aggressive spot buying.<\/p>\n

Meanwhile, the futures CVD has stayed mostly flat near -$748 million over the past month, after recovering from lows near -$900 million.<\/p>\n

\"Cryptocurrencies,
HYPE price, aggregated spot volume, futures volume, and funding rate. Source: velo.chart<\/em><\/figcaption><\/figure>\n

The open interest (OI) has risen steadily to $1.38 billion, near local highs and signaling an increased market participation.<\/p>\n

However, rising OI alongside weak futures CVD suggests traders may be in positions without strong conviction in the bullish price trend.<\/p>\n

As a result, the market may become more vulnerable to sharp, liquidation-driven moves once the bullish trend fades.<\/p>\n

Related:\u00a0Tether launches self-custodial wallet with cloud backup option<\/strong><\/em><\/a><\/p>\n

BitMEX founder say HYPE may gain 200% by August<\/h2>\n

In March, BitMEX co-founder Arthur Hayes said<\/a> HYPE could reach $150 if Hyperliquid expands its dominance in the futures market and its product suite.<\/p>\n

Hayes\u2019 thesis centers on the continued market-share gains from centralized exchanges and the rising protocol revenue.<\/p>\n

Hyperliquid\u2019s 30-day annualized revenue run rate stood at $843 million in March, and it would need to reach $1.4 billion by August. That implies a 66% increase within five months.<\/p>\n

Hyperliquid allocates up to 97% of its revenue to buying HYPE from the open market, creating a direct link between trading activity and token demand.<\/p>\n

HIP-3, a protocol upgrade enabling trading of non-crypto assets like commodities, contributes close to 10% of revenue and could drive further expansion, especially as assets like gold and oil gain traction on the platform.<\/p>\n

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RWA trading on Hyperliquid continues to reach new ATHs week after week, surpassing $2.3B in open interest pic.twitter.com\/R9uDCAx3fo<\/a><\/p>\n

\u2014 Hyperliquid (@HyperliquidX) April 6, 2026<\/a><\/p><\/blockquote>\n

The real-world asset (RWA) trading activity on Hyperliquid has also accelerated sharply, with open interest rising to $2.3 billion on April 6<\/a>. This marks an increase of over 190% from March levels and nearly 800% from early-year lows.<\/p>\n

This growth pace for the protocol and its market-share gains could play a key role in any extended price move for the altcoin.\u00a0<\/p>\n

Related:\u00a0XRP consolidation may transform into explosive rally if $1.40 is topped: Data<\/strong><\/em><\/a><\/p>\n