While the market purged $1.5 billion in liquidations today following the record $6.36 billion hack of centralized hot wallets (with $BTC touching $76,664), there was one asset that did exactly the opposite, attracting all the flow: Hyperliquid ($HYPE ), surging +15.22% to $91.41 as volume exploded +680% and Open Interest hit $4.02 billion, driven by the deal involving ICE (owner of the New York Stock Exchange) and Stanley Druckenmiller, alongside Trade[XYZ], to bring its 24/7 perpetuals to the U.S.
The institutional narrative is impeccable, but with $4.02B in Open Interest stacked just below the all-time high of $97.98, be careful not to get caught in late-stage FOMO.
💡 My take: The shift toward on-chain self-custody is real, but I never buy with leverage into historical resistance when all the retail traders are piling in euphorically; I’m watching for a rejection between $94 and $98, or waiting for a pullback to support.
What do you think? Does it break straight through $100, or do they first sweep the overleveraged longs? 👇🔥
#HKDollarStablecoinHKDAPToLaunchOnSolana #DeFi
The institutional narrative is impeccable, but with $4.02B in Open Interest stacked just below the all-time high of $97.98, be careful not to get caught in late-stage FOMO.
💡 My take: The shift toward on-chain self-custody is real, but I never buy with leverage into historical resistance when all the retail traders are piling in euphorically; I’m watching for a rejection between $94 and $98, or waiting for a pullback to support.
What do you think? Does it break straight through $100, or do they first sweep the overleveraged longs? 👇🔥
#HKDollarStablecoinHKDAPToLaunchOnSolana #DeFi
