Hyperliquid (HYPE) is maintaining stability as buyers actively defend support near $52, even as resistance continues to limit further price recovery. Monetalis, a prominent crypto fund, recently moved substantial holdings from Uniswap’s UNI token into Hyperliquid’s HYPE, reflecting what market watchers interpret as growing confidence in Hyperliquid’s potential for further upside.
Monetalis strengthens HYPE positioning
At the time of reporting, HYPE trades at $56.38, with a 24-hour trading volume of $130.28 million and a market capitalization standing at $14.23 billion. Despite a recent correction from its June high above $75, HYPE has rebounded 1.29% over the past day. Recent trading activity and large-scale accumulation suggest that HYPE might be preparing for a bullish reversal in the days ahead.
Crypto analyst HypedLaunches noted HYPE’s stabilization after the sharp decline from its $75 peak, with renewed buyer interest emerging around the $52–$54 range. Following a strong rally from $20–$30 earlier this year and a surge past $50, bulls now aim to reclaim ground lost during the latest downturn.
Current chart analysis identifies $52–$54 as a crucial support zone, while $57–$60 remains immediate resistance. A definitive move above $60 could serve as the catalyst for the next leg upward towards $62–$65. Still, muted trading volumes reveal that momentum remains subdued.
Current on-chain data from Lookonchain shows that Monetalis shifted $13 million by selling 3.72 million UNI through Cumberland and acquired 171,543 HYPE, valued at $9.56 million. These moves underscore increased confidence in Hyperliquid’s decentralized derivatives platform, but also raise short-term selling pressure on UNI.
Decentralized derivatives see renewed accumulation
As Monetalis accumulates HYPE, market participants are weighing whether this influx of institutional capital could be a leading signal. Technical analysis continues to emphasize the importance of steady monitoring around the key $52–$54 support and $57–$60 resistance levels, as price remains constrained within this trading range.
Traders are closely observing broader market dynamics, including a recovery trend in Bitcoin, which may indirectly support HYPE’s upward trajectory. Bullish sentiment is beginning to regain momentum, but the overall move is subject to confirmation by higher trading volumes and a decisive close above $60.
While current activity highlights strong whale interest, this does not necessarily indicate a longer-term negative outlook for UNI, despite recent outflows.
Tokenization broadens market participation
This trend aligns with a broader movement in financial markets, as traditional brokerages face competition from new Web3 solutions. With asset tokenization gaining traction, investors increasingly use platforms such as 1stepSwap to directly hold shares of major US firms, gold, and silver through their crypto wallets. By converting real-world assets into tokens and automatically seeking the best available market prices, these platforms eliminate the need for intermediaries, marking a significant shift for both institutional and retail traders.
Ultimately, buying activity from prominent players like Monetalis may foster greater confidence in burgeoning DeFi ecosystems, amplifying liquidity and investor interest in protocols such as Hyperliquid.
If HYPE closes above $60, the bullish trend could extend toward the $62–$65 area. Ongoing accumulation by funds may help bolster investor sentiment in the near term.
