Hyperliquid Is Becoming A Core Infrastructure Layer For Crypto Finance
Hyperliquid is evolving into a core infrastructure layer for crypto finance with the introduction of HIP-4.
NewsBTC1 min read
HYPE hits 2026 high as Hyperliquid volumes soar: Is the rally sustainable?
TL;DR
Hyperliquid's HYPE token reached $45, its highest since October 2025, following a 108% increase from its January low of $21. However, mixed market demand signals suggest the sustainability of this rally is uncertain.
Key points
- HYPE reached $45, highest since October 2025
- 108% increase from yearly low of $21
- Mixed market demand signals present
HyperliquidHYPE
Hyperliquid’s native token HYPE (HYPE) 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.
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.
HYPE/USDT on the one-day chart. Source: Cointelegraph/TradingView
HYPE price trend and onchain data diverge
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.
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.
Meanwhile, the futures CVD has stayed mostly flat near -$748 million over the past month, after recovering from lows near -$900 million.
HYPE price, aggregated spot volume, futures volume, and funding rate. Source: velo.chart
The open interest (OI) has risen steadily to $1.38 billion, near local highs and signaling an increased market participation.
However, rising OI alongside weak futures CVD suggests traders may be in positions without strong conviction in the bullish price trend.
Q&A
What is the current price of Hyperliquid's HYPE token?
The current price of Hyperliquid's HYPE token is $45.
How much has HYPE increased since its yearly low?
HYPE has increased by 108% since its yearly low of $21 on January 21.
What factors could affect the sustainability of HYPE's rally?
Weak spot buying activity and mixed market demand signals could threaten the sustainability of HYPE's rally.
