HYPE Perpetual Volume Surpasses $240B Amid Price Forecasts

Key Insights

• Hyperliquid price prediction comes as HYPE attracts $240 billion in 30-day perpetual trading volume.
• Arbitrum ranks first among the remaining chains by trading activity.
• HYPE crypto is up about 5% in the past 24 hours, according to CoinGecko.

Discussions around the Hyperliquid price prediction emerged as HYPE traded near $82.42, registering an approximate 5.5% increase over 24 hours according to CoinGecko metrics. The digital asset maintained a position close to the ceiling of its $77.19 to $83.09 daily span. Concurrently, Hyperliquid dominated tracked perpetual trading venues by pulling in $240 billion across a 30-day timeframe.

CryptoRank metrics from September 16 highlighted a significant divergence between Hyperliquid and the other five monitored exchanges.

Hyperliquid Price Prediction Based on $83.09

CoinGecko figures indicated that HYPE changed hands near $78 prior to encountering price volatility in the tracking period. The token dipped toward $77 before staging a rebound during the latter half of the window. Furthermore, buyers drove the asset past $80 around midday, fueling an accelerated upward push.

That surge lifted HYPE past $83 prior to a slight retracement toward $82.40. The session low of $77.19 serves as immediate support within the current 24-hour framework. In contrast, $83.09 represents the primary resistance level following its peak for the day.

These thresholds frame the short-term Hyperliquid price prediction outlook derived from the provided chart. A breakout above $83.09 would push HYPE past its recorded 24-hour high. On the other hand, a drop beneath $77.19 would breach the daily floor.

Market metrics additionally reflected an $18.34 billion market valuation alongside roughly $1.19 billion in daily trading volume. Total value locked on Hyperliquid sat at approximately $6.69 billion. Moreover, CoinGecko reported a nearly 5% gain for HYPE over a 24-hour duration.

Shorter timeframes displayed mixed outcomes relative to this larger upswing. The cryptocurrency advanced roughly 1.6% across a seven-day span, whereas its 14-day return dropped about 1%.

Hyperliquid Leads 30-Day Perpetual Volume

In parallel with this market performance, CryptoRank pegged Hyperliquid’s 30-day perpetual trading volume at $240 billion as of September 16. That amount outpaced Arbitrum’s $47.2 billion by a margin of $192.8 billion. It also surpassed the collective $226 billion generated by the remaining five platforms featured in the chart.

Combined perpetual volume across all six exchanges totaled roughly $466 billion. Meanwhile, activity among the alternative platforms remained contained in a much tighter band.

Arbitrum secured second place at $47.2 billion, followed closely by Solana at $46 billion. Lighter registered $45.6 billion, ETH as its native asset.">Ethereum reported $44.9 billion, and EdgeX rounded out the category with $42.3 billion.

Significantly, a mere $4.9 billion separated Arbitrum from EdgeX across those five networks. Furthermore, Hyperliquid’s reported volume exceeded five times the total recorded by Arbitrum over the identical 30-day stretch.

HYPE Crypto Derivatives Activity Expands

Derivatives metrics grew in tandem with the movement in the HYPE crypto price. Trading volume expanded by 20.3% to $3.65 billion, while open interest increased by 7.42% to reach $3.07 billion. Options volume experienced an even sharper surge, jumping 107.48% to $6.60 million.

Simultaneously, options open interest rose by 13.81% to hit $44.91 million. Despite this growth, options statistics remained substantially lower than the scale of the perpetual futures market.

Liquidations totaled $3.85 million over a 24-hour window. Short positions accounted for $2.92 million of that sum, whereas long liquidations amounted to approximately $928,260. Consequently, shorts comprised roughly 76% of total 24-hour liquidations.

This short-heavy skew persisted across shorter intervals. Over a 12-hour span, shorts represented $1.95 million out of $2.20 million in liquidations. For the four-hour tracking block, liquidations reached $1.74 million, consisting of $1.52 million in short liquidations and $215,900 in long liquidations.

One-hour statistics demonstrated a near-even split. Total liquidations touched approximately $369,580, divided between $185,210 for longs and $184,370 for shorts. This balance contrasted with the heavy short liquidations documented over the four-hour, 12-hour, and 24-hour periods.

Positioning metrics showed an aggregate 24-hour long-to-short ratio of 1.0137. Accounts for HYPE/USDT on Binance logged a 1.5176 ratio, while OKX accounts registered 1.32. Additionally, top traders on Binance posted a ratio of 1.4876 per account and 1.7252 per position.