The broader market is awash in red, while $HYPE has gained about 6% in 24 hours, trading at around $74.44. But don’t forget it’s still down 26% from its all-time high and is currently finding support around $68–$70.
The fundamentals are worth watching: Hyperliquid generated about $68.68 million in protocol revenue over the past 30 days. Maintaining that level of revenue in a bear market suggests that on-chain perpetual futures demand hasn’t disappeared along with prices.
Of course, if the support zone breaks, the pullback could deepen. What I’m watching more closely is whether revenue can hold up during the decline—that says more than a single day’s gain.
#Hyperliquid #Perpetual Futures
For reference only; this is not investment advice.
The fundamentals are worth watching: Hyperliquid generated about $68.68 million in protocol revenue over the past 30 days. Maintaining that level of revenue in a bear market suggests that on-chain perpetual futures demand hasn’t disappeared along with prices.
Of course, if the support zone breaks, the pullback could deepen. What I’m watching more closely is whether revenue can hold up during the decline—that says more than a single day’s gain.
#Hyperliquid #Perpetual Futures
For reference only; this is not investment advice.