Holders of Hyperliquid (HYPE) lost 15% over the month: the token fell more sharply than Bitcoin, Ethereum, and Solana. However, analysts are more optimistic about HYPE than any other major coin, according to CryptoQuant's rating.
On Sunday, HYPE was trading at $76.55 – 22% below its all-time high of $97.96 on September 23. The market capitalization is around $17 billion. Over the same 30 days, Bitcoin's price remained unchanged, while Ethereum and Solana lost about 9%.
On October 6, the Hyperliquid team received 3.75 million HYPE tokens – at that time, their value was approaching $340 million. This was a planned tranche. The project's co-founder stated that the package would be sold off-exchange to one institutional investor; the buyer's name and the deal price were not disclosed. The unlocking of such a volume could affect the altcoin's price: the tranche was almost five times the $71 million that Hyperliquid directed towards token buybacks over the past 30 days. The platform specializes in crypto futures trading, and about 99% of all trading fees are used daily to purchase HYPE. Traders who opened leveraged long positions lost $688.56 million in one day this month due to forced liquidations.
CryptoQuant assesses how optimistic analysts are about each coin relative to its recent history. HYPE took first place: the indicator is 2.3 standard deviations above normal. Next are BNB, Solana, Bitcoin, and Cardano (ADA). "According to analysts, the most bullish crypto asset is $HYPE," noted CryptoQuant's founder and CEO Ki Young Ju. The company's key target on the chart is the $100–120 range.
In terms of support share, HYPE is not the leader: 90% of analysts support HYPE's growth, while ADA is supported by 100%, and Uniswap (UNI) by 92%.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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