HYPE (Hyperliquid) fell 11.50% in the last 24 hours.

Gate News Bot message, October 11, according to CoinMarketCap data, as of the time of writing, HYPE (Hyperliquid) is currently priced at $39.12, down 11.50% in the past 24 hours, with a high of $51.34 and a low of $26.26, and a 24-hour volume of $1.34 billion. The current market capitalization is approximately $13.17 billion, a decrease of about $1.711 billion from yesterday.

Important news about HYPE recently:

1️⃣ Large-scale liquidation pressure leads to price fluctuations Nearly $7 billion has been liquidated on the Hyperliquid platform, while the total liquidation scale across the network could reach $30-40 billion. Such a large-scale liquidation has put significant pressure on the HYPE price, being one of the main reasons for the 11.50% fall within 24 hours.

2️⃣ Large institutions increase their holdings of HYPE NASDAQ-listed company Hyperion DeFi increased its holdings by 42,052.14 HYPE, with an average purchase price of 46.343 USD. The company currently holds approximately 1.75 million HYPE, with a total value of 79.5 million USD. The continued accumulation by institutional investors may provide some support for HYPE.

3️⃣ Perpetual contract volume surges The 24-hour perpetual contract trading volume of HyperLiquid reached $9.975 billion, reclaiming the top position in DEX trading volume. Additionally, the crypto wallet Rainbow has opened up perpetual contract trading features supported by Hyperliquid. The significant increase in volume reflects the market's high attention to HYPE.

The price of HYPE has recently experienced significant fluctuations, falling from a high of $51.34 to a low of $26.26. Although institutional investors are still increasing their holdings, large-scale liquidations and high volume indicate a complex market sentiment. Investors should closely monitor subsequent market trends and potential volatility risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.