HYPE Reaches $65 Oil Growth As ETF Flows: Is $100 Next?
Hypeliquid's native token HYPE continues to rally, possibly targeting $100 as the next all-time high, as the influx of exchange-traded funds shows investor interest.
Inflows into HYPE ETFs totaled $89 million over the past nine days, with daily buying pressure of nearly $9.2 million.
Combined assets under management (AUM) on Bitwise's BHYP and 21Shares's THYP rose to $89 million within days of launch, giving HYPE the fastest ETF growth curve among crypto investment products.
Total Position HYPE ETF Net Income. Source: SoSoValue
Bitwise CEO Hunter Horsley he said. BHYP alone has generated nearly $12 million in 90-minute trading volume. The fund's assets reached $40 million a week after its launch.
HYPE fan Havoc Added The upcoming Greyscale GHYP product could contribute $8 million to $12 million in daily revenue streams. At different average purchase prices, projected annual demand can take anywhere from 8% to 33% of HYPE's distribution supply.
After taking into account outflows of 30% to 35%, similar to those seen in Bitcoin ETFs, Havoc estimates annual net demand between $2.9 billion and $3.6 billion. The analyst described the figures as large for a crypto asset with a relatively thin floating supply.
It shows the development of onchain activity, with Hyperliquid Interesting Over $1.1 billion in net income last month.
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HYPE leaves open demand trails
HYPE rose to a new all-time high of $64.50 on Tuesday, while Bitcoin continued to struggle below the $77,000 resistance level. The token has since strengthened above its previous tick level around $59.40, placing HYPE in a price discovery.
If HYPE continues to hold above $59.40, the next Fibonacci retracement target is set at the 1.236 level near $76. Beyond that, the 1.382 Fibonacci extension will place the next high near $89.50, followed by the 1.618 extension near $101.
HYPE/USD, one day chart. Source: Cointelegraph/TradingView
Fibonacci retracements are commonly used by traders to predict potential resistance zones and profitability when an asset moves above its previous all-time high.
Derivatives continue to increase alongside data loss. Velo data showed that total open interest reached $2 billion as traders added new positions to the rally. Consolidated funds rate is held around 0.004%, suggesting a bullish position.
HYPE rate, compounded funding rate and open interest. Source: Velo Chart
Crypto analyst Byzantine General HyperLiquid said. has arrived It exchanges $8.5 billion in cumulative interest, making it the third largest cryptocurrency exchange behind Binance and Bybit. The platform's overall open interest market share rose to 7.2%, a new all-time high.
Meanwhile, some traders are watching for signs of congestion after a sharp vertical move. Crypto trader GonzoXBT he said. A temporary retracement near the 4-hour 200-time exponential moving average (EMA) breakout area will help reset the position.
The daily chart also shows an unfilled equity gap between $48 and $54 that overlaps with the rising 50-day EMA and could serve as a key liquidation and support zone if the price pulls back.
BTC/USD, One Day Chart Analysis by Gonzo. Source: X
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