Key Highlights
- HYPE surged approximately 10% to reach the $40 mark, establishing itself as the top gainer among the leading 20 cryptocurrencies by market capitalization
- Open Interest surged to $1.67 billion, marking the highest level observed since the beginning of February and indicating new capital inflows
- Funding rates shifted into positive territory, climbing to 0.008%, indicating that long position holders are compensating short traders
- The 4-hour chart displays an RSI reading of 70, approaching overbought conditions, while the MACD indicates a bullish signal
- Tokenized assets captured 33% of Hyperliquid’s weekly trading volume, setting a new platform record
Hyperliquid (HYPE) has climbed to $40 following a substantial 10% gain on Monday. This upward movement enabled HYPE to overtake Cardano’s ADA, securing the position as the tenth-largest digital currency by market capitalization.
Supporting this price surge are robust on-chain metrics and derivatives indicators. According to CryptoQuant analysis, significant whale accumulation, pronounced buy-side pressure, and stabilizing conditions across both spot and futures markets are evident.
In the derivatives segment, Open Interest (OI) expanded to $1.67 billion on Tuesday. This represents the peak level witnessed since early February and has demonstrated consistent growth throughout March.
An increase in OI generally indicates fresh capital flowing into the market. This influx of liquidity could provide sustained support for the current upward price trajectory.
Additionally, Hyperliquid’s funding rates transitioned to positive territory on Sunday, reaching 0.008% by Tuesday. This shift from negative to positive funding rates indicates that traders holding long positions are paying a premium to short sellers — a clear indication of heightened bullish sentiment.
Technical Indicators Suggest Further Upside
Examining the 4-hour timeframe, HYPE successfully breached a critical resistance level at $36.51 last Thursday. The token consolidated near this zone the next day before rallying approximately 10% 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 currently registers at 70, hovering just beneath overbought territory. Meanwhile, the MACD indicator has generated a bullish crossover signal, with expanding green histogram bars reinforcing the positive technical outlook.
Should HYPE maintain its upward momentum, the primary target zone is the psychologically significant $50 level. That said, the October 29 peak of $49.88 could serve as a potential resistance barrier due to clustered sell orders in this region.
Within the broader uptrend, a temporary retracement remains possible. Should this scenario unfold, initial support is positioned at $36.51, with secondary support at $33.60, a level that was most recently tested on March 10.
Tokenized Assets Achieve Unprecedented Volume Share
Beyond price performance, tokenized assets represented 33% of Hyperliquid’s total weekly trading volume. This marks an unprecedented share 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
These tokenized assets also constitute approximately 21% of total open interest on Hyperliquid. Open interest measures the aggregate value of active derivative contracts.
The expanding proportion of tokenized assets indicates that an increasing number of traders are maintaining positions in these instruments over extended timeframes.
Tokenized assets represent conventional financial instruments or tangible real-world assets that have been converted onto blockchain infrastructure, enabling them to be exchanged within decentralized trading environments.
As of Tuesday’s session, HYPE is changing hands at $40, with bullish traders setting their sights on $50 as the subsequent major resistance level.
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