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What’s Fueling Hyperliquid’s Price Rally Amid a Crypto Sell-Off? Is It Too Late to Buy?
- Hyperliquid's native token, HYPE, stands out with a 4.6% gain to $35.83 amidst a crypto market sell-off.
- Whale accumulation, evident through a new wallet depositing $17.5 million to buy 517,602 HYPE tokens at $33.8 average price, indicates strong belief in HYPE's potential.
- Hyperliquid shows resilience with a market cap of $11.8 billion, strong trading volumes, and technical indicators hinting at a possible rally if it breaks the $39 resistance level.
- Total value locked (TVL) in Hyperliquid surged to $1.8 billion, leading in gross profits and recording over $9 billion in open interest.
- USDC usage on Hyperliquid saw substantial growth of 8.3% this week, surpassing industry norms.
- Inovia and other entities are staking HYPE tokens, contributing to its bullish outlook.
- Analysts project a bullish outlook for HYPE in June and July, with potential price targets ranging from $42 to $200 in the next altseason.
- Short-term dips to $30-$35 could occur if market sentiment weakens, with $40 identified as a critical level for bull control.
- The outlook for HYPE in July remains positive, with potential climbs past $45 and minor pullbacks anticipated at key resistance zones.
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