Hyperliquid Price Finds Strong Support at $35 as DeFi TVL Jumps 80%
The price of Hyperliquid (HYPE) has bounced back after dropping earlier this month. It found strong support near $35 and has now moved up around 3%, trading close to $36.80. This small recovery is getting attention as the token tries to break past the $37–$40 zone.
One big reason behind this move is the strong growth in DeFi activity. The Total Value Locked (TVL) on Hyperliquid’s platform has jumped nearly 80% in the past three months. It went from about $350 million to more than $1.7 billion, showing that more people are using the platform and locking their crypto in it. This signals rising trust and popularity in the project.
However, futures trading for HYPE has slowed down. Open interest has dropped from almost $2 billion to about $1.66 billion, which means fewer traders are betting on its short-term moves. This could make the price move slower unless fresh interest comes in.
On the charts, the next big resistance is around $40. If the token crosses that level, it may push higher. But for now, some indicators still suggest caution.
Impact:
HYPE could move higher if DeFi keeps growing. But falling trading activity might limit gains in the short term.