NFT

HYPE Price Climbs Higher with $84B Volume and NFT Frenzy

2 hours ago
Bitcoin Ethereum News

Hyperliquid trading volume hits $84B as HYPE price rises 5% and Hypurr NFTs sell for over $467K.

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Hyperliquid is drawing attention as both trading activity and ecosystem growth accelerate.

Volumes are climbing, NFTs are trading at high values, and the HYPE token is testing technical resistance.

Trading Activity Surges Across the Board

Hyperliquid’s total trading volume has reached $84 billion, with daily activity now above $6 billion, per BlockchainBaller. These figures reflect a steady rise in engagement since the middle of the year. The increase in usage suggests that more participants are entering the platform, pushing liquidity higher.

Futures volume rose by 19% to $1.82 billion, according to CoinGlass data. Open interest, however, only went up by 1% to $2.28 billion.

Such a gap between volume and open interest suggests that most traders are opening and closing their positions within a short span of time. Very few long-term positions seem to exist, meaning that short-term positions are accounting for present circumstances.

New NFT Collection Launches on HyperEVM

On September 28, Hyperliquid released its Hypurr NFT collection. A total of 4,600 cat-themed NFTs were created. Of these, 4,313 went to early users who took part in the Genesis Event held in November 2024. The rest were allocated to developers, artists, and the project’s foundation.

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The NFTs are deployed on HyperEVM and interact directly with the chain’s liquidity layer. This makes them different from most typical NFT drops. Instead of functioning only as collectibles, they can be tied to applications built on the core infrastructure of Hyperliquid. Developers may build around them using tools already active in the ecosystem.

The collection opened on OpenSea with a floor price of 1,458 HYPE, which is roughly $68,700. One NFT sold for more than $467,000 shortly after launch. Security researcher ZachXBT reported a theft of eight NFTs worth about $400,000.

Price Tests Resistance While RSI Nears Peak

HYPE was trading at $47 at press time. It has gained over 5% in the past 24 hours but remains 21% below its all-time high of $59 from September 18. Over the past month, the price is still up about 6%.

Chart data shows the price is approaching the 100 and 200 EMA levels, around $48 and $49. These often act as resistance points. The 20 EMA has crossed above the 50 EMA, which shows short-term momentum is leaning upward.

HYPE price chart
Source: TradingView

The Stochastic RSI is currently above 95, placing it in the overbought range. This may lead to reduced buying pressure in the short term.

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