Key takeaways
Hyperliquid gained 2% on Thursday after advancing nearly 3% in the previous session.
Hyperion DeFi’s HYPE holdings recorded a $31 million fair-value increase during the second quarter.
HYPE futures Open Interest rose more than 4% to $2.38 billion, while trading volume jumped 45%.
Hyperliquid (HYPE) extended its recovery on Thursday as sustained corporate demand and improving derivatives activity supported bullish momentum.
The token gained approximately 2%, building on its nearly 3% advance during the previous session. HYPE is now approaching its 50-day Exponential Moving Average (EMA) near $58.37, which represents the next major obstacle to further gains.
A decisive break above this level could allow Hyperliquid to target the $62.58 supply zone.
Corporate treasuries maintain strong HYPE exposure
Corporate interest in Hyperliquid remains firm, with HYPE-focused digital-asset treasuries increasing their exposure while benefiting from the token’s rising market value.
Hyperliquid Strategies held 17.60 million HYPE, up from 12.50 million in January. The market value of its holdings climbed from $703 million at the end of the first quarter to approximately $980 million in the second quarter.
Hyperion DeFi also increased its treasury holdings from 1.88 million HYPE to 1.93 million. The value of its position rose from $77 million at the end of the first quarter to $107 million in Q2, representing a $31 million fair-value increase.
The stability and growth of these corporate positions indicate continued confidence in the Hyperliquid ecosystem.
Digital-asset treasury companies can provide sustained demand by accumulating and holding tokens over longer periods. However, concentrated corporate holdings may also create selling risks if treasury firms later reduce their exposure.
Retail and derivatives activity has strengthened alongside the price recovery. CoinGlass data shows HYPE futures Open Interest rose more than 4% over the past 24 hours to $2.39 billion. Increasing Open Interest indicates that the notional value of active contracts is rising, potentially reflecting the creation of new positions.
Trading volume also jumped 45% to $1.60 billion over the same period, showing that traders are becoming more active as HYPE approaches key resistance.
The simultaneous rise in price, trading volume and Open Interest supports the view that fresh capital is entering the market rather than the recovery being driven solely by traders closing existing positions.
Hyperliquid’s liquidation data reflects a bullish short-term bias. Short liquidations reached $1.34 million over the previous 24 hours, significantly exceeding the $251,040 in liquidated long positions. The imbalance suggests rising prices forced bearish traders to close leveraged positions.
HYPE’s funding rate remained positive at 0.0080%, despite experiencing brief moves into negative territory. Positive funding means traders holding long positions are paying shorts, showing a willingness to pay a premium for bullish exposure.
While the data supports further gains, rising leverage could increase volatility. An unexpected reversal could trigger long liquidations and place renewed pressure on the token.
HYPE remains above long-term support
HYPE continues to trade above its 200-day EMA at $51.29 and a rising trendline near $53.05.
These levels reinforce the token’s broader constructive structure and could attract buyers if the recovery loses momentum.
The Moving Average Convergence Divergence indicator has crossed above its signal line, while its histogram remains positive. The shift indicates that bullish momentum is gradually rebuilding.
The Relative Strength Index stands near 50, reflecting neutral conditions and leaving room for further gains before the token enters overbought territory.
The 50-day EMA at approximately $58.37 remains the immediate resistance level controlling HYPE’s short-term outlook.
A decisive daily close above the moving average could confirm strengthening bullish momentum and open the way toward the $62.58 supply zone.
Failure to reclaim the 50-day EMA could produce another pullback toward the rising trendline at $53.05. Below that level, the 200-day EMA at $51.29 would provide the next important support.
Buyers would need to defend this support cluster to preserve Hyperliquid’s wider bullish structure.
For now, growing corporate holdings and improving derivatives metrics favor the recovery, but a breakout above $58.37 remains necessary to confirm its continuation.
