Hyperliquid flips Solana in 7 day fees; will HYPE surge?

Hyperliquidal, the decentralized perpetual trading platform, has exceeded Solana in weekly costs a few months after its launch.

According to February 28 of Defilma dataHyperliquid (THRESHING) made $ 12.61 million in fees during last week, more than that of Solana (GROUND) $ 11.8 million. This was the case even if the total value of 7.1 billion dollars in locked Solana is ten times higher than that of $ 669 million in hyperliquid. Hyperliquid TVl has increased by 294% since December and 55% since January.

Decentralized hyperliquidal native trading features are responsible for its success. The platform offers merchants a fully chain order book, zero gas costs and a lever effect up to 50x on assets, including BTC, ETH and Sol.

This emphasis on the effectiveness of trading distinguishes Solana’s hyperliquid, which is not specifically designed for DEFI but supports a variety of decentralized applications.

From now on, Hype’s price amounts to $ 20.194. The exponential mobile average (EMA 9) indicates a slight downward trend, the price oscillating around or below the line. The relative resistance index (RSI 14) is 51.21, signaling a neutral moment, but leaning towards weakness.

If the RSI falls below 50, a downward dynamic could push the price to $ 19.50 to $ 19.00. The support remains about $ 20.00, with resistance at $ 21.00.

Whales are still optimistic despite recent price oscillations. In a transaction that was reported by Lookonchain on February 26, a whale deposited $ 5 million in USDC at the platform and bought 73,959 media threshing worth 1.51 million dollars at market prices. The whale has also placed limit orders to buy 183,768 media threw for $ 19.04 and $ 19.05.