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#HYPEBreaks88HitsNewAllTimeHigh
- HYPE enters new price discovery
The HYPE token cracked over $88 in the early hours of this morning for a new ATH and is building upon its historic gains by being up well over 57% in 30 days.
But the numbers do not stop at price; the ecosystem for HYPE is firing on all cylinders.
New ATH: $88+
30-day: +57%+
Daily active traders: ~42,000
Open Interest: ~$2.3B
Buy back/burns: Still applying deflationary pressure
HYPE's built-in buy back and burn will continue reducing total supply of the token over time, as activity on the network remains active with increasing buy interest & Open Interest to match.
Breaking past a previous all time high is often great for attracting new attention, given that there is now no real 'resistance' on charts. This can lead to high volatility.
Will HYPE hold its ground above $88 or will we see consolidation after a huge run-up,?
For me, the combination of momentum, active traders, Open Interest, and buybacks make HYPE one of the most attractive coins I have seen in some time to watch unfold.
Can HYPE break through $88 and make another ATH or has the heat come to an early end?
#Hyperliquid #Crypto