- Hyperliquid handles 5-7x the trading volume per year of BSC or Ethereum
- Crypto analyst says HYPE might outperform BTC for the Q3 period.
Hyperliquid [HYPE] According to DeFiLlama, the on-chain permanent markets have topped this month’s list, as they saw a volume of over $214 Billion dollars traded in just 30 days. It’s true. data BNB Smart Chain is ranked second in the world. Ethereum [ETH] In third place, Handled $44 billion and $ 30 billion respectively.
Hyperliquid’s volume is about 7 times that of Ethereum and 5 times BSC.
Source: DeFiLlama
The on-chain DEX has been added. ranked Seventh among the top crypto app and chain chains in terms of revenue generated over the past 30 trading days.
The company has generated over $300 million cumulatively and $62,5 million in fees in the last month. It is a good investment based solely on its performance and fees.
Is HYPE an excellent buy for the third quarter?
According to crypto analyst and influencer Ansem, HYPE’s press time valuation at a $10B – $15B market cap is grossly undervalued. He added,
“Main trade in Q3 should be looking for swing longs here, will easily outperform Bitcoin & there’s still a ton of ppl sidelined on this trade.”
He is not a liar. speculated HYPE’s market capitalization could hit $100 billion this cycle. This would translate to about $299 per unit of HYPE, if this $100 billion cap was reached.
Ryan Watkins, Syncracy Capital’s CEO, also subscribes Hyperliquid may have a longer moat than other companies in the perpetual markets (perps).
Perps, for those who are unfamiliar with them, are derivative instruments which allow traders to make price speculations without owning an underlying asset directly and they do not expire like options contracts.
Perpetuals has become popular among those looking to increase their profits due to its high leverage structure. Hyperliquid also offers no KYC, making it a great option for anyone in a restricted area. Jump Trading recently had a Jump Trading executive as a client. called The aforementioned is the a “meaningful competitor to Binance.”
Some still see a potential short-term danger as Robinhood or Coinbase launch products that are similar, but more regulated.
In the meantime, you can check out HYPE’s latest releases. price action Recent signs of a weak bullish mood have been seen. It could be a sign of the broader weakness at Q2’s end.
CoinGlass’ 30-day liquidity heat map shows that the key price and liquidation magnets are at $43, $41, $45, and $45.
CoinGlass
The HYPE tag could be $43, $45 or $35 in a sweep of liquidity scenario. Or, it can start with $35 and climb up. A whale deposit $16.51M. opened A long bet with HYPE.
The outcome of the bet will depend upon BTC’s next moves, but the liquidity pools mentioned above will remain key in the near term.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: ambcrypto.com
