- Hyper Ricquid has been steadily grew with new users for the past two months.
- Open interest decrease and spot sales hiking may have a lower price of over -advertising than nearby support.
At the time of writing, the total market capitalization’s market cap decreased by 13% from January 9th. In fact, Altcoin’s market cap (excluding Ethereum) has decreased 17.5%. In contrast, DEX Platform Hyperliquid’s (Hype) token decreased by 7.2% in the opening.
Source: TradingView’s Hype/USDT
According to the price chart on the 1st, Hype recently tested the lowest level in January at $ 18.5. The bull has defended this level so far. Nevertheless, the OBV fell off the cliff.
Even though the price of sales in the field market increased, we saw the absolute diving of the lowest level in January despite the fact that the price was maintained. This suggests that if the purchase volume does not increase soon, the Hype may soon be lower than the $ 18.5 support.
Does Hyper Clicade Metrics suggest that the price will soon come in?
Source: Sand Hill Analysis
Dune Analytics’ data shows that November and December are largely daily on the hyper liquid platform. We also saw the rapid surge of new users. But in January, the number of new users decreased.
Nevertheless, the number of new users has not been on the south over the last two months. Instead, it maintained a relatively trajectory. At the same time, the daily trading volume also maintained a flat trend instead of falling.
These were also a positive sign that the hyperclicade platform continued to see traffic despite the difficult market conditions and weaknesses.
Source: Artemis
The generated fee also supported this idea.
The commission generated compared to the end of December has increased. But this may not be converted directly to the demand for over -advertising due to the fearful market sentiment.
Source: COINGLASS
Finally, the interests held over the last 10 days have begun to show a low trend. This suggested in the fall of speculative activities and pointed to the weakness of the side with a side -up trader.
In particular, if the BTC (Bitcoin) is lower than the $ 80K psychological level, it may be possible to fall over $ 18.5. As emotions begin to recover in the future, Hype Bulls can defend the $ 19 support area.