9 hour ago
1 0
Asset Manager Withdraws 15000 HYPE; Trendline Breakout Could Trigger Rally
Key Developments:
- DigiAssetFund (DACM) withdrew 15,000 HYPE, valued at $525,000, from FalconX. This increased their Hyperliquid holdings in that wallet to over $1 million.
- DACM's Executive Chairman, Richard Galvin, announced an investment in Ostium Labs’ Series A round to modernize the global CFD market through oracle-driven, RFQ-based perpetuals.
Hyperliquid Market Activity
- Hyperliquid's HIP-3 protocol reached over $5 billion in trading volume across custom markets, with significant activity on platforms such as TradeXYZ, Felix Protocol, and Ventuals.
- The infrastructure supports high-speed derivatives execution without centralized intermediaries, allowing for equity-style perpetuals alongside crypto derivatives.
HYPE Price Analysis
- HYPE is currently priced around $34.78, sitting below a descending trendline that has limited rallies.
- The Bollinger Bands indicate resistance at $40.38 and support at $29.70.
- A breakout above $40 could target $52, whereas rejection may push the price back to $29 or lower.
