Hyperliquid [HYPE] is back! In the past 24 hours, it topped all chains by fees and trading volume. Zoom out, and it’s leading weekly perps readings too!
Can this push be a mainstay and help push native token price?
A standout moment
In the last day, Hyperliquid topped every major network by fees and volume, per Artemis data. The network pulled ahead of established names like Solana [SOL], TRON [TRX], and Ethereum [ETH].
Source: X
Since fees are paid only when users transact, there’s real demand too.
Hyperliquid is at the top of the perps race
Over the past seven days, Hyperliquid has recorded the highest perpetual DEX trading volume, pulling ahead of its rivals.
Source: X
The chart shows the network leading both Weekly Volume and Open Interest, which clearly means traders are keeping positions open.
In contrast, Lighter’s [LIGHTER] volumes have dropped while its airdrop distribution plays out, with weekly activity down nearly three times from its peak.
Looks like traders are rotating back toward platforms with liquidity and consistent participation. That’s perhaps why Hyperliquid is back at the center of the perps market.
Price action lags despite it all
The HYPE token slipped below its short-term moving averages at press time, with price trending lower toward the $23-$24 zone. RSI drifted below the neutral mark, so buyers were sleeping with one eye open. Recent attempts to push higher were short-lived, with sellers stepping in near prior resistance levels.
Source: TradingView
For now, the market looks to be in wait, with traders looking for confirmation that these on-chain strides can translate into sustained price strength. A steady base here could help stabilize prices, while further weakness would test traders’ patience.
Final Thoughts
- Hyperliquid topped all chains by fees and volume in 24 hours.
- Despite leading weekly perps activity, HYPE traders still want proof before committing higher.
Source: https://ambcrypto.com/hyperliquid-leads-solana-and-ethereum-in-fees-what-it-means-for-hype/