Hyperliquid Achieves $548 Million in Weekly Inflows and $5.6 Billion Open Interest
On-chain data indicates that #HYPE experienced $548 million in net asset inflows from May 5 to 11, with a record single-day inflow of $200 million on May 8. The protocol achieved an all-time high open interest of $5.6 billion on May 11, solidifying its position in decentralized derivatives trading.
- Hyperliquid executed $2.5 to $3 million in buybacks daily through its Assistance Fund Buybacks program.
- Activity increased following the launch of Hyperbridge, which enhances asset bridging across over 50 blockchains into Hyperliquid’s platform.
- Hyperbridge currently supports tokens like COOK [NC], USR, and RLP, aiming to improve efficiency in decentralized trading.
HYPE Price Outlook
The price of HYPE is approximately $25, rising by 4% in the last 24 hours. After hitting $9.20 on April 7, it has rebounded 57%, adding $3.37 billion to its market cap. The RSI is near the overbought region, indicating strong momentum, while resistance is noted at $26.
- The price is at the upper Bollinger Band, suggesting strength but potential for reversal. A drop to $22.10 may result in short-term consolidation.
- The MACD indicator shows bullish momentum, with a breakout above $27.50 potentially leading to prices over $30.
