Hyperliquid Spot trading volume surpasses the largest CEX in the United States! Can HYPE break through the 50 dollar barrier?

The decentralized exchange Hyperliquid (HYPE) has surpassed the 24-hour trading volume of the largest CEX in the United States for the first time, becoming the leader in global spot trading volume. Although the HYPE price has not yet reached $50, it has set a new historical high of $49.86. As the platform's trading volume and market share continue to rise, the market is following whether HYPE can break through the psychological barrier in the short term.

Spot trading volume hits a new high, surpassing multiple mainstream platforms

According to official data, Hyperliquid's spot trading volume in the past 24 hours reached 3.4 billion USD, mainly driven by the activity of BTC trading.

This figure temporarily surpassed the largest CEX in the United States (with a trading volume of about 3 billion USD during the same period), as well as several centralized exchanges.

At the same time, Hyperliquid has surpassed Uniswap and PancakeSwap, becoming the protocol with the largest spot trading volume in the market.

In the derivatives market, Hyperliquid remains the leader among similar products, with a 24-hour volume of 19.7 billion USD.

Decentralization advantages and low fee model

Hyperliquid is referred to by some crypto communities as the "on-chain large CEX," and its core competitiveness comes from two major advantages:

Fully Decentralized: Operates on a proprietary blockchain, no permission required, no KYC, users can trade directly through their own wallets, assets are fully self-custodied.

Low trading fees: Both spot and futures transaction fees are lower than most competitors, attracting short-term traders and long-term holders.

In addition, the platform operates stably, executes quickly, and has almost no large-scale downtime or forced liquidation incidents, which has continuously enhanced Hyperliquid's reputation in the decentralized exchange (DEX) field.

HYPE price trend: just a step away from 50 USD

All-time high: 49.86 USD (only 0.14 USD away from 50 USD)

Recent pullback: Due to the overall sell-off in the crypto market, HYPE has pulled back about 3% from its peak and is currently fluctuating around $47.

Volume changes: During the price pullback period, trading volume surged by 80%, indicating intense competition between bulls and bears at key price levels.

Key Support and Technical Analysis

(Source: Trading View)

From the daily chart, HYPE's two attempts to break through 50 dollars were unsuccessful, indicating strong profit-taking pressure at that price level.

First support level: $40 (trend line support)

Second support level: $31.50 (demand zone)

If it can hold above 40 dollars and increase volume to attack again, HYPE is expected to break through 50 dollars and start a new round of bullish market.

Conclusion and Outlook

Hyperliquid leads in both the Spot and derivatives markets, gradually establishing its dominance in the field of Decentralization trading. Although the HYPE price faces strong resistance at 50 USD in the short term, with the growth of platform users and the continuous rise in volume, a breakthrough is just a matter of time.

Investors should follow the support performance at 40 dollars and 31.50 dollars, as well as the volume changes during the next challenge at 50 dollars.