HyperLiquid Price Holds Steady After $1M Whale Exit And On‑Chain Surge

HyperLiquid HYPE/USD is trading at $39, holding firm after trader James Wynn booked a $1 million profit, buying at $24.84 and exiting near $32.72. The move triggered a brief dip, but buyers quickly stepped in. HYPE found its footing above $39, keeping the uptrend alive.

The rebound wasn’t random. Hyperliquid’s on‑chain metrics have been heating up, underpinning the move. In May, HyperLiquid’s TVL jumped 108% to $1.46 billion, while DEX volume hit $248.3 billion. Technicals are lining up as a bullish MACD crossover and price consolidation under $35 is hinting at a potential breakout toward $40 if buyers maintain conviction.

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The numbers come into sharper focus in the Foresight Ventures report, “Decoding the Hyperliquid Playbook and the Next Wave of On‑chain Infrastructure.” By drawing a direct line from protocol mechanics to market performance, the report cements why traders are flocking to HyperLiquid.

The report points to HYPE’s appeal as a KYC‑free platform with clean user interface and ultra‑low fees (maker 0.01%, taker 0.035%), offering up to 50x leverage, and community‑run HLP vault offering 14–24% APY. The features feed into the platform’s liquidity and trading volume, reinforcing the strong on‑chain signals.

Foresight Ventures spotlights HyperEVM (HyperLiquid’s EVM‑compatible Layer 2), which is boasting $1.8 billion in TVL. Projects like HyperLend ($370 million TVL), the Hypurr Fun memecoin launchpad, and HyperSwap’s low‑slippage AMM show how the ecosystem has matured around HYPE’s core trading engine.

With these product lines, HyperLiquid has captured an 80% share of the DeFi perpetual market, amounting to $248 billion in May volumes. The dominance underscores the platform’s magnetic pull on institutions and retail, while regulators eye KYC‑free models for compliance risks.

Amid the dominant run, earlier whale inflows propelled HYPE to a May all‑time high of $44, an outcome foreshadowed by a sustained buyer edge in CVD data.

Momentum indicators on multiple timeframes are flagging caution. A classic bearish divergence on the three‑day RSI, lower highs as price peaks rise, coupled with fading four‑hour momentum, suggests a measured retracement may be underway before the next leg higher.

A dip might arrive as support sits at $38.30, $36.95, and $35.00. On the upside, clean breaks above $41.49 and $47.67 could reignite 10%+ rallies, especially if Bitcoin BTC/USD bounces from current near‑term lows. If Bitcoin continues to slide toward $102k, HYPE could follow. Any retrace might be brief as demand has been solid, and buyers have stepped in before.

Unit’s recent tests of “ES” and “NQ” tickers, likely on‑chain S&P 500 and Nasdaq futures, sparked a fresh 5% pop in HYPE and speak to the growing demand for regulated assets on‑chain.

Looking forward, HyperLiquid’s strengths, deep liquidity, rapid innovation on HyperEVM, and proven token‑economic loops face two tests: regulatory scrutiny of a KYC‑free model and the resilience of incentive‑driven revenue in bear markets. The platform’s metrics and community suggest HYPE is well armed to drive DeFi’s next wave.

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