Hyperliquid’s HYPE token gained 60% as a sharp uptick in staking and open interest occurred, but other DEX-related fundamentals raise questions on how long the rally can last.
Key takeaways:
HYPE surged 60% to $34.90, fueled by institutional investor accumulation from Hyperliquid Strategies and reduced selling after staking unlocks.
Bearish liquidations exceeding $20 million and ARK Invest's bullish report fueled speculation despite flat perpetual volumes.
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