HYPE (Hyperliquid) fell 7.78% in the last 24 hours.

Gate News Bot news, on September 22, according to CoinMarketCap, as of the time of writing, HYPE (Hyperliquid) is currently priced at $48.83, with a 7.78% fall in the last 24 hours, reaching a high of $59.39 and a low of $47.59. The 24-hour volume has reached $593 million. The current market capitalization is approximately $16.305 billion, a decrease of about $1.376 billion from yesterday.

Hyperliquid is a blockchain platform aimed at integrating all financial businesses. As its flagship application, Hyperliquid provides a decentralized exchange featuring low fees, zero gas fees, up to 40x leverage, and a fully on-chain order book. The platform emphasizes transparency, with all transactions, funds, and settlements occurring on Hyperliquid L1. Additionally, Hyperliquid offers a one-click trading feature that requires no wallet approval to ensure a smooth trading experience. Technically, Hyperliquid claims to have a block time of 0.07 seconds and a maximum TPS of 200,000.

Important news about HYPE recently:

1️⃣ Large institutional investors actively layout Recently, multiple large institutions and whale addresses have been buying HYPE in large quantities. A major investor deposited 15 million USDC into the Hyperliquid platform to establish long positions in several digital assets, including BTC, SOL, HYPE, and PUMP. Another investor deposited 2.8 million USDC and purchased 52,020 HYPE tokens at a price of $53.96. This indicates that institutional investors maintain a positive attitude towards HYPE, which may provide support for its price.

2️⃣ Volume continues to lead Hyperliquid stands out among mainstream perpetual contract DEXs. The latest data shows that Hyperliquid's 24-hour volume has reached $8.1 billion, ranking first in the industry, with a TVL of approximately $5.99 billion, supporting 180 trading pairs. This data highlights Hyperliquid's leading position in the decentralized derivatives trading space, helping to attract more users and liquidity.

3️⃣ The ecosystem is continuously expanding The Hyperliquid ecosystem is rapidly developing. The AMM DEX Upheaval on HyperEVM has released a roadmap that includes innovative features such as the permissionless token launch platform JumpPad, an aggregator, and veUP governance. At the same time, there are reports that MetaMask plans to launch perpetual contract trading functionality within the wallet through Hyperliquid. These initiatives will further enrich the Hyperliquid ecosystem and enhance its competitiveness in the DeFi space.

Despite the recent fall trend of HYPE, the continued entry of institutional investors and the steady development of the ecosystem may provide long-term support. However, investors should remain cautious of the short-term selling pressure that may arise from profit-taking by large holding addresses. On the technical side, HYPE is currently in an adjustment phase, with key support levels in the 47-48 dollar range.

This message does not constitute investment advice, and investors should be aware of the risks of market volatility.