Market Activity for Hyperliquid (HYPE) – 31 January 2026

Hyperliquid’s token (HYPE) has experienced a series of notable movements in late January 2026. The following points summarize the most significant developments reported across the cryptocurrency media outlets on 31 January 2026.

  1. Price Rally and Technical Support
  • Coinpedia and BitRss reported a positive price rally for HYPE, citing sustained strength across multiple time frames.
  • BitcoinEthereumNews noted that HYPE had rebounded from $28 and was trading above $30, identifying a key chart level that could trigger a surge to $45.
  1. Social Media Activity and Derivative Projects
  • BitcoinEthereumNews highlighted that HYPE and Aster (ASTER) were leading derivatives projects in terms of social activity, suggesting heightened community engagement.
  1. Competitive Positioning
  • OpenPR published an article titled “From Challenger To Contender: HFDX Continues To Gain Momentum Against Hyperliquid.” The piece discusses how HFDX (another perpetual trading platform) is gaining credibility, implying competitive pressure on Hyperliquid’s trading platform.
  1. Liquidity Events
  • BitcoinEthereumNews reported that a whale on the Hyperliquid platform lost over $8.99 million in a single position due to liquidations, reflecting significant volatility in the platform’s order book.
  • Another article from BitcoinEthereumNews documented that “Machi Big Brother” lost nearly $71 million in four months after repeated ETH liquidations on Hyperliquid, indicating broader market stress affecting the platform.
  1. Market Sentiment and Target Levels
  • BitRss suggested a continued growth outlook for HYPE with a $35 target, reinforcing bullish sentiment among analysts.
  1. Contextual Market Conditions
  • Cryptonews and other outlets noted that the overall market remained quiet, with other major tokens such as XRP and Cardano trading near their respective support levels. This subdued environment may have contributed to the focus on HYPE’s performance.

Summary

Across the reported sources, Hyperliquid’s token demonstrated a mixed landscape: a recent price rally and strong community engagement were counterbalanced by significant liquidity losses and competitive challenges from rival platforms. Analysts remain cautiously optimistic, citing technical support levels and a potential upside to $45, while market participants monitor liquidity dynamics and competitive developments closely.