TLDR
Contents
- HYPE surged approximately 10% to reach the $40 price level, emerging as the top performer within the top 20 cryptocurrencies by market capitalization
- Open Interest expanded to $1.67 billion, marking its highest point since the beginning of February and indicating new capital inflows
- Funding rates shifted to positive territory at 0.008%, demonstrating that long position holders are compensating short traders
- The 4-hour Relative Strength Index stands at 70, approaching overbought levels, while the MACD indicates a bullish crossover pattern
- Tokenized assets captured 33% of the platform’s weekly trading volume, establishing a new record high for Hyperliquid
Hyperliquid (HYPE) has reached the $40 price point following a nearly 10% increase recorded on Monday. This upward movement allowed HYPE to surpass Cardano’s ADA token, securing its position as the 10th-largest digital asset by market capitalization.
The price surge is underpinned by robust on-chain metrics and derivatives market data. Analysis from CryptoQuant reveals significant whale accumulation patterns, buy-side market dominance, and stabilizing conditions across both spot and futures trading environments.
In the derivatives segment, Open Interest (OI) expanded to $1.67 billion as of Tuesday. This represents the peak level observed since early February, with consistent growth recorded throughout the month of March.
An increase in OI generally indicates fresh capital deployment into the market. This influx of new liquidity could provide additional support for the current bullish price trajectory.
Funding rates on Hyperliquid transitioned to positive territory on Sunday, climbing to 0.008% by Tuesday. This shift from negative to positive funding indicates that traders holding long positions are now paying premiums to short sellers — a clear indicator of robust bullish sentiment in the market.
Chart Analysis Suggests Further Upside Potential
Examining the 4-hour timeframe, HYPE successfully breached a critical daily resistance zone at $36.51 last Thursday. The token subsequently established support near this level the next day before posting approximately 10% gains through Monday’s trading session.
Are you ready for $HYPE summer? pic.twitter.com/LMdpi9MtkV
— Rand Group (@cryptorand) March 13, 2026
The 4-hour RSI indicator currently reads 70, positioning just beneath overbought conditions. Additionally, the MACD has generated a bullish crossover signal, with expanding green histogram bars reinforcing the positive technical outlook.
Should HYPE maintain its upward trajectory, traders are eyeing the psychologically significant $50 level as the primary target. That said, the October 29 peak of $49.88 could serve as a resistance barrier due to potential sell order clustering in that price zone.
A temporary retracement within the broader uptrend remains a possibility. In such a scenario, initial support would be found at $36.51, with secondary support located at $33.60, which was most recently tested on March 10.
Beyond price movements, tokenized assets represented 33% of Hyperliquid’s total weekly trading volume. This figure establishes an all-time high for this asset category on the platform, based on data compiled by Blockworks.
Tokenized assets accounted for 33% of last week's volume on Hyperliquid, a new all time high
These assets also make up 21% of open interest on the platform pic.twitter.com/SZIbJa6Sfb
— Blockworks (@Blockworks) March 16, 2026
Tokenized assets also constitute approximately 21% of the total open interest on Hyperliquid. Open interest measures the aggregate value of active derivative contracts on the platform.
The expanding proportion of tokenized assets indicates that an increasing number of traders are maintaining longer-term positions in these financial products.
Tokenized assets represent traditional financial instruments or tangible real-world assets that have been digitized and issued on blockchain infrastructure, enabling their participation in decentralized trading venues.
As of Tuesday’s trading session, HYPE is valued at $40, with bullish traders setting their sights on $50 as the next significant price milestone.
