On-chain data suggests that Hyperliquid HYPE $19.97 24h volatility: 5.4% Market cap: $6.67 B Vol. 24h: $206.60 M has recorded a massive $548 million in net asset inflows

On-chain data suggests that Hyperliquid HYPE $19.97 24h volatility: 5.4% Market cap: $6.67 B Vol. 24h: $206.60 M has recorded a massive $548 million in net asset inflows

On-chain data from May 5 to 11 reveals massive net asset inflows of $548 million into Hyperliquid (HYPHERLIQUID) HYPE $19.97 24h volatility: 5.4% Market cap: $6.67 B Vol. 24h: $206.60 M .

The protocol's single-day increase in assets peaked on May 8 with a $200 million inflow, the highest in its history.

Hyperliquid also reported a new all-time high in open interest at over $5.6 billion on May 11, highlighting its role in decentralized derivatives trading.

Hyperliquid reached a new all-time high in open interest of >$5.6B.

This increase in activity comes amid the launch of Hyperbridge, a tool built on Layerzero’s omnichain interoperability protocol.

The integration allows for seamless bridging of assets like USDT, USDe, and PLUME from over 50 blockchains directly into Hyperliquid’s decentralized exchange.

Currently, Hyperbridge supports tokens such as COOK [NC], USR , and RLP , with open applications for new listings. The integration brings centralized-like efficiency to decentralized trading. It aligns with Hyperliquid’s vision of combining transparency with high-performance trading experiences.

Hyperliquid’s devs described the rollout as a key milestone in connecting its ecosystem to the wider crypto economy.

HYPE Price Outlook

Amid the ongoing ecosystem growth, HYPE is trading around $25, gaining 4% in the past 24 hours. After falling to $9.20 on April 7, the 19th largest cryptocurrency has rebounded 57% in the past month. During this time, it added $3.37 billion to its market cap.

On the daily HYPE price chart, the RSI sits just below the overbought region, suggesting strong momentum. However, investors must keep an eye on potential exhaustion, especially around the strong resistance at $26.

HYPE price chart with RSI and Bollinger Bands | Source: Trading View

Meanwhile, the price is riding the upper Bollinger Band, a classic sign of strength but also a potential reversal point. If the price fails to hold this level and drops to mid-band (20-day SMA) at $22.10, traders could see some consolidation in the short-term.

The MACD indicator remains in bullish territory with the MACD line above the signal line, showing continued upward momentum. A decisive breakout above $27.50 could lead the token to $30+.

HYPE price chart with MACD | Source: Trading View