Hyperliquid (HYPE) is back! Over the past 24 hours, it has surpassed all chains in terms of fees and transaction volume. Zoom out, and these are also the top weekly criminal reads!
Can this push be a pillar and help drive up the price of native tokens?
A notable moment
Over the past day, Hyperliquid led all major networks in fees and volume, according to Artemis data. The network has outpaced established names like Solana (SOL), TRON (TRX), and Ethereum (ETH).
Source:
Since fees are only paid when users transact, there is also real demand.
Hyperliquid leads the race for criminals
Over the past seven days, Hyperliquid recorded the highest DEX perpetual trading volume, outpacing its rivals.
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The chart shows the network leading in both weekly volume and open interest, which clearly means traders are keeping their positions open.
In contrast, Lighter (LIGHTER) volumes have fallen as its airdrop distribution unfolds, with weekly activity reduced by almost three times its peak.
It appears that traders are returning to platforms that offer liquidity and consistent participation. Perhaps this is why Hyperliquide is back at the center of the criminal market.
Price developments are lagging despite everything
The HYPE token has fallen below its short-term moving averages at press time, with the price trending lower towards the $23-$24 area. The RSI drifted below the neutral bar, so buyers were sleeping with one eye open. Recent attempts higher were short-lived as sellers approached previous resistance levels.
Source: TradingView
For now, the market appears to be waiting, with traders looking for confirmation that this on-chain progress can translate into sustained price strength. A stable base here could help stabilize prices, while further weakness would test traders’ patience.
Final Thoughts
- Hyperliquid dominated all channels in terms of fees and volume in 24 hours.
- Despite significant weekly activity, HYPE traders still want proof before committing higher.
