{"id":140865,"date":"2026-03-09T21:36:32","date_gmt":"2026-03-09T21:36:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=140865"},"modified":"2026-03-09T21:36:32","modified_gmt":"2026-03-09T21:36:32","slug":"whats-fueling-hyperliquids-surge-hype-outperforms-top-100-cryptos-in-latest-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=140865","title":{"rendered":"What\u2019s Fueling Hyperliquid\u2019s Surge? HYPE Outperforms Top 100 Cryptos In Latest Rally"},"content":{"rendered":"

Oil-linked trading on the decentralized exchange Hyperliquid (HYPE) has recently surpassed $1 billion in volume within a 24-hour period, leading to a significant 10% rally in the platform\u2019s native token, HYPE, allowing it to outperform the top 100 cryptocurrencies by market capitalization.\u00a0<\/p>\n

In fact, oil-linked trading on Hyperliquid hit over $1.2 billion, making it the second-most traded market on the platform, just behind Bitcoin (BTC).<\/p>\n

Hyperliquid\u2019s Oil Contract Trading Soars<\/h2>\n

The driving force behind the recent HYPE performance has been the CL-USDC perpetual contract<\/a>, which tracks West Texas Intermediate crude oil prices. This contract\u2019s trading volume recently eclipsed Ethereum (ETH) trading on the platform.\u00a0<\/p>\n

The increase in activity coincides with a dramatic rise in oil futures, which jumped over 30% to nearly $120 a barrel on traditional exchanges. This spike followed escalating tensions in the Middle East that have disrupted global supply chains.<\/p>\n

Before these developments, daily volumes for the CL-USDC contract hovered around $21 million. However, following the recent geopolitical events, that figure skyrocketed to more than $1.2 billion as of Monday. Additionally, open interest in this contract surged to $183 million.<\/p>\n

$150 Price Target For HYPE<\/h2>\n

Further fueling the excitement surrounding the HYPE rally is a bullish outlook from Arthur Hayes, co-founder of cryptocurrency platform BitMEX.\u00a0<\/p>\n

In a recent essay<\/a>, Hayes set a price target of $150 for HYPE by August 2026, asserting that Hyperliquid can continue to expand its revenue streams even if broader cryptocurrency markets experience difficulties.<\/p>\n

While HYPE has been on the rise, with the token retesting the $35 resistance wall, major cryptocurrencies like Bitcoin and Ethereum have shown modest recoveries during the same period. Bitcoin gained approximately 2.5%, while Ethereum saw a slightly higher increase of 3.4%.<\/p>\n

Analyzing HYPE\u2019s daily trading chart reveals critical support levels that investors should watch. Key support zones are anticipated around $32, $29, and $28, with the latter acting as a significant accumulation point over the past two weeks.<\/p>\n

Featured image from OpenArt, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Oil-linked trading on the decentralized exchange Hyperliquid (HYPE) has recently surpassed $1 billion in volume within a 24-hour period, leading to a significant 10% rally in the platform\u2019s native token, HYPE, allowing it to outperform the top 100 cryptocurrencies by market capitalization.\u00a0 In fact, oil-linked trading on Hyperliquid hit over $1.2 billion, making it the […]<\/p>\n","protected":false},"author":0,"featured_media":140866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-140865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/140865"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=140865"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/140865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/140866"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=140865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=140865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=140865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}