Hyperliquid (HYPE) Surges 14% in the Last 24 Hours... "Impact of Increased Platform Trading Volume"
Summary
- Hyperliquid's HYPE token surged over 14% in the last 24 hours, surpassing 30 USDT.
- The increase in trading volume and fee income of the Hyperliquid platform acted as a positive factor.
- With the strength of Bitcoin, interest in on-chain derivatives platforms is increasing, and the expectation of platform growth for HYPE is seen as driving the price increase.
The native token HYPE of the decentralized derivatives exchange Hyperliquid has surged over 14% in the last 24 hours, surpassing 30 USDT.
According to CoinMarketCap data on the 22nd, HYPE reached an intraday high of $30.52, marking a 15.27% increase from the previous day.
The increase in trading volume and fee income of the Hyperliquid platform is also considered a positive factor. Previously, the platform recorded a 24-hour trading fee of $5.4 million, setting a new record high. The total open interest (OI) also surpassed $8.9 billion.
Recently, with the strength of Bitcoin, liquidity is flowing into on-chain derivatives platforms. Consequently, the expectation of platform growth for HYPE is interpreted as driving the price increase.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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