Hyperliquid Trading Volume Reaches $84B as HYPE Price Climbs 5% and Hypurr NFTs Fetch Over $467K
Hyperliquid is gaining significant traction, with a notable uptick in trading volumes and ecosystem expansion. The platform is witnessing increasing trading activity, high-value NFT transactions, and the HYPE token is currently testing its technical resistance levels.
Trading Activity Sees a Notable Increase
According to data from BlockchainBaller, Hyperliquid’s cumulative trading volume has soared to $84 billion, with daily transactions exceeding $6 billion. This trend indicates a consistent rise in platform engagement since the middle of the year, suggesting that a growing number of users are joining, thereby enhancing liquidity on the platform.
Hyperliquid Experiences Explosive Growth
The trading volume surge to $84 billion, with daily activity surpassing $6 billion, highlights a robust demand and an influx of liquidity into the Hyperliquid ecosystem. The consistent upward trajectory since mid-year emphasizes the platform’s increasing popularity among traders.
Futures Volume Increases While Open Interest Sees Minimal Change
CoinGlass data indicates a 19% rise in futures volume, reaching $1.82 billion, while open interest saw only a marginal increase of 1% to $2.28 billion. This disparity suggests that traders are primarily engaging in short-term positions, frequently opening and closing trades rather than holding long-term investments.
Introduction of New NFT Collection on HyperEVM
On September 28, Hyperliquid launched its Hypurr NFT collection, featuring 4,600 cat-themed NFTs. Of these, 4,313 NFTs were distributed to early participants of the Genesis Event held in November 2024, with the remainder allocated to developers, artists, and the project’s foundation.
Unique Features of Hypurr NFTs
The Hypurr NFTs, which were launched on the HyperEVM, interact directly with the liquidity layer of the chain, distinguishing them from typical NFT drops. Rather than solely serving as collectibles, these NFTs can be integrated into various applications developed on Hyperliquid’s core infrastructure, allowing developers to leverage existing tools within the ecosystem.
Floor Prices and Noteworthy Sales
The NFT collection debuted on OpenSea with a starting price of 1,458 HYPE, approximately valued at $68,700. Remarkably, one NFT was sold for over $467,000 shortly after its release. However, security researcher ZachXBT reported that eight NFTs, valued at around $400,000, were stolen.
HYPE Price Movement and Market Indicators
As of the latest updates, HYPE is trading at $47, having increased over 5% within the last 24 hours, yet it remains 21% lower than its all-time high of $59, achieved on September 18. Over the previous month, the price has still shown a 6% increase. Chart analysis indicates that the price is nearing the 100 and 200 EMA levels, which typically serve as resistance thresholds. The 20 EMA has crossed above the 50 EMA, signaling a positive short-term momentum.
