HYPE (Hyperliquid) decreased by 2.44% over the past 24 hours.

Gate News Bot Report: As of November 6th, according to CoinMarketCap data, HYPE (Hyperliquid) is currently priced at $39.93, down 2.44% over the past 24 hours. Its highest price in that period was $49.95, and the lowest was $35.82. The 24-hour trading volume reached $523 million. The current market capitalization is approximately $13.44 billion, a decrease of $336 million from yesterday.

Hyperliquid is a blockchain platform designed to integrate all financial services. It offers a decentralized exchange as its flagship application, featuring low fees, up to 40x leverage, and fully on-chain order books. HYPE is the native token of the Hyperliquid network, allowing anyone to own, govern, and safeguard the platform. The platform emphasizes community-first principles, with no investors, no paid market makers, and no fees charged to any companies.

Recent key updates on HYPE:

1️⃣ Hyperliquid Leads DEX Trading Volume In October, Hyperliquid achieved remarkable performance in perpetual contract DEX trading volume, reaching $303 billion, surpassing competitors like Lighter and Aster. Additionally, its open interest remains the highest among all perpetual DEXs, exceeding the combined open interest of others. Notably, this was achieved without active incentive programs.

2️⃣ Major Investors Continue to Build HYPE Ecosystem Several large investors have recently increased their positions in HYPE and related tokens on the Hyperliquid platform. One new wallet transferred $2.498 million USDC into Hyperliquid and opened multiple leveraged positions, including 40x long BTC and 10x long PUMP and FARTCOIN tokens. Another investor holds approximately $44.84 million worth of HYPE long positions. These actions suggest institutional confidence in the long-term growth of the HYPE ecosystem.

3️⃣ Market Sentiment Shows Divergence Some major traders, such as the “100% Win Rate Whale,” are long HYPE with 10x leverage, holding about 75,775 HYPE (roughly $295,000). Meanwhile, most of the top ten traders by ZEC contract holdings are bearish, with the leading whale experiencing a loss of $8 million. This divergence in market sentiment could lead to increased short-term volatility for HYPE.

From a technical perspective, HYPE’s price has declined over the past 24 hours, breaking below the $40 support level. Investors should watch the $35–36 support zone and the $40–41 resistance zone. Fundamentally, ongoing large investor activity and platform engagement support HYPE, but market sentiment divergence may cause short-term fluctuations.

Note: This information is not investment advice. Please be aware of market risks when trading.