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Key takeaways

• Hyperliquid’s Open Interest (OI) reached a record $18.2 billion in September.
• Hyperliquid recorded $730.6 billion in matched trading volume, while average daily traders increased 20% to a record 65,161.
• HYPE trades around $72.19, facing resistance near $75.12 and $75.69.

Hyperliquid strengthened its position in the cryptocurrency derivatives market during the third quarter, with Open Interest reaching a record $18.1 billion as traders increasingly used the decentralized exchange alongside established centralized platforms.

According to its Q3 report released Thursday, the exchange’s share of combined Open Interest across eight leading centralized exchanges and Hyperliquid climbed to 11.7% by the end of September, compared with 9.6% in June.

The expansion was driven primarily by renewed activity in Hyperliquid’s native cryptocurrency derivatives markets, even as its HIP-3 platform continued attracting demand for perpetual futures linked to traditional financial assets.

Hyperliquid Open Interest surges 80% as exchange gains market share

Hyperliquid recorded substantial growth in derivatives activity during the third quarter, strengthening its position against some of the cryptocurrency industry’s largest centralized exchanges.

The platform’s Open Interest reached an all-time high of $18.1 billion on September 22, reflecting increased trader participation and larger outstanding derivatives positions.

By September 30, Open Interest stood at $16.7 billion, representing a 79.9% increase from $9.31 billion at the end of June.

Average Open Interest also climbed 46.4% quarter over quarter to $12.7 billion. The growth helped Hyperliquid capture a larger share of outstanding derivatives positions across major trading venues.

Its market share increased from 9.6% at the end of June to 11.7% at the end of September.

The exchange surpassed Kraken and Bybit in Open Interest on August 12 before moving ahead of OKX on September 17.

Despite these gains, the platform remains smaller than the largest centralized derivatives exchanges.

At the end of September, Hyperliquid’s Open Interest represented approximately 93% of Bitget’s and 27% of Binance’s.

A significant development during the quarter was the shift in trading activity from HIP-3 markets toward Hyperliquid’s native cryptocurrency derivatives.

According to the report, native trading volume rose 72% from its July low, helping drive the platform’s record Open Interest.

HIP-3 generated $262 billion in perpetual futures trading volume during Q3, representing a 23% increase from the previous quarter.

The segment accounted for 35.9% of Hyperliquid’s total matched volume during the period. However, its monthly share of perpetual futures activity declined from 51.1% in July to 24.5% in September.

Equity-linked perpetual futures generated $153.8 billion in trading volume during the third quarter, representing a 160.8% increase from Q2. Commodities trading volume declined 47.7% quarter over quarter to $45.6 billion.

HYPE faces resistance near $75

Despite Hyperliquid’s strong quarterly performance, its native token remains under pressure.

On the daily chart, HYPE trades around $72.19, maintaining a bearish near-term structure as it remains below several important technical indicators.

The cryptocurrency is trading below its 20-day, 50-day, and 100-day Exponential Moving Averages (EMAs), which are clustered between approximately $77.44 and $80.26.

These moving averages represent potential resistance levels that could limit recovery attempts.

HYPE also remains below a descending resistance trendline, with the immediate breakout reference positioned near $75.12. The nearby horizontal resistance at $75.69 creates another obstacle for buyers.

A sustained recovery above these levels would suggest that short-term selling pressure is beginning to ease.

However, momentum indicators continue to reflect weakness. The daily Relative Strength Index (RSI) stands near 35, indicating that bearish momentum remains dominant.

Meanwhile, the Stochastic Oscillator has fallen to approximately 9, placing the cryptocurrency in deeply oversold territory.

HYPE’s immediate downside support stands at $67.63. This horizontal level represents an important area where buyers could attempt to stabilize the cryptocurrency following its recent decline.

A successful defense of $67.63 could support a temporary recovery toward the descending resistance trendline.

However, a decisive breakdown below this level would expose HYPE to further downside risk. The next significant support stands at $61.16, followed by another horizontal level near $51.57.

If selling pressure intensifies, the broader structural support around $33.20 could become relevant, although reaching that level would require a substantially deeper correction.

On the upside, HYPE must first reclaim the $75.12 descending trendline and the nearby $75.69 horizontal resistance.

A sustained breakout above these barriers could encourage buyers to target the EMA cluster between $77.44 and $80.26.

Further resistance stands at $85.04, followed by $97.84. However, reaching these higher levels would require stronger buying momentum and an improvement in broader cryptocurrency market sentiment.

The post HYPE up 1% as Hyperliquid OI hitting record $18.1b appeared first on CoinJournal.

Key takeaways

• Cardano (ADA) trades around $0.171 on Friday, extending its weekly losses toward 4%. 
• ADA has lost more than 30% since early October, reflecting sustained selling pressure and weakening investor confidence.
• ADA faces immediate support at $0.156, while resistance stands at $0.183 and the $0.203–$0.229 EMA cluster.

Cardano (ADA) continued its decline on Friday, trading around $0.171 as weakening derivatives activity and bearish on-chain signals reinforced concerns about further losses.

The cryptocurrency has fallen nearly 4% this week and is heading toward its sixth consecutive weekly decline, extending a correction that has erased more than 30% of its value since early October.

Derivatives traders are increasingly positioned defensively, with Cardano’s long-to-short ratio falling toward its lowest level in more than a month and funding rates turning negative.

Cardano derivatives signal bearish sentiment as long-to-short ratio falls

Cardano’s derivatives market continues to reflect weakening investor confidence as traders position themselves for further downside.

According to CoinGlass, ADA’s long-to-short ratio stands at 0.86, approaching its lowest level in more than a month.

A ratio below 1 indicates that short positions outnumber long positions under the metric being measured, suggesting that bearish positioning has become more prominent.

Funding rates provide additional evidence of weakening sentiment. Cardano’s funding rate turned negative on Thursday and stood at -0.0015% on Friday.

The combination of bearish positioning and negative funding suggests that traders remain reluctant to anticipate a sustained price recovery.

Cardano’s on-chain and trading indicators also suggest that market conditions remain unfavorable.

According to CryptoQuant’s summary data, both ADA spot and futures markets are experiencing large whale orders alongside elevated trading activity.

The data also indicates sell-side dominance across both markets. CryptoQuant’s indicators suggest that large market participants remain active while aggressive selling continues to outweigh buying activity.

Cardano price forecast: ADA remains below major moving averages

Cardano’s technical outlook remains bearish as the cryptocurrency continues trading below its major daily Exponential Moving Averages (EMAs).

At the time of writing on Friday, ADA trades around $0.171, significantly below its 50-day EMA at $0.203.

The 100-day EMA stands near $0.208, while the 200-day EMA is positioned around $0.229.

Trading below all three moving averages suggests that sellers retain control of the short-, medium-, and longer-term price trends.

Momentum indicators provide little evidence of an immediate bullish reversal. The daily Relative Strength Index (RSI) has fallen to approximately 29, placing Cardano in oversold territory.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory, with its histogram showing limited momentum.

This suggests that bearish pressure persists even though the pace of selling may be stabilizing.

Taken together, these indicators suggest that Cardano’s broader downtrend remains intact despite the possibility of a short-term rebound.

Cardano’s next important downside support stands at $0.156. This horizontal level could attract buying interest as traders assess whether the cryptocurrency’s recent correction has become excessive.

A successful defense of $0.156 could allow ADA to consolidate and potentially attempt a temporary recovery. However, a decisive breakdown below this support would weaken the technical outlook further.

Despite the bearish technical structure, Cardano could attempt a recovery if buyers successfully defend the $0.156 support level.

The first important resistance stands at $0.183. A sustained breakout above this level would suggest that short-term buying momentum is improving.

However, ADA would still face a significant resistance cluster between $0.203 and $0.229, where its major daily EMAs are concentrated.

The 50-day EMA at $0.203 represents the first major dynamic barrier. Beyond this level, the 100-day EMA near $0.208 and the 200-day EMA around $0.229 could limit further gains.

A recovery above these moving averages would provide stronger evidence that Cardano’s bearish structure is beginning to improve. Additional resistance levels stand at $0.236, $0.245, and $0.296.

The post Cardano could dip to $0.156 as ADA faces sixth consecutive weekly loss appeared first on CoinJournal.

Key Takeaways

• Injective (INJ) trades around $7.42 on Thursday, extending losses after a 5.7% decline in the previous session.
• The futures taker buy-to-sell ratio stands at 0.96, with sell orders accounting for 51.1% of taker activity, suggesting that sellers retain a slight advantage.
• A breakdown below the $7.19 trendline support could expose INJ to further losses toward $6.71 and $6.27, while a breakout above $8.35 could open the door to $9.41.

Injective (INJ) remains under pressure on Thursday, trading below $7.50 as declining derivatives activity and renewed selling weigh on its near-term recovery prospects.

The cryptocurrency is trading around $7.42 after losing approximately 6% during Wednesday’s session, with traders showing little conviction in a sustained rebound.

CoinGlass data reveals a steady reduction in futures Open Interest since mid-October, while market sell orders continue to outweigh aggressive buying activity.

Injective futures OI falls as traders reduce Exposure

Investor participation in Injective’s derivatives market has weakened considerably over the past several weeks.

According to CoinGlass, INJ futures Open Interest has declined by 4% in the last 24 hours and now stands at $140.77 million. 

A sustained decline typically indicates that traders are reducing their positions, potentially reflecting weaker speculative interest or uncertainty about the market’s direction.

CoinGlass data shows that sellers continue to hold a slight advantage in Injective’s futures market.

The INJ taker buy-to-sell ratio stands at 0.96, indicating that aggressive sell orders are exceeding aggressive buy orders.

A ratio below 1 generally suggests that traders executing market orders are more willing to sell into existing bids than buy from available offers.

Injective technical outlook: INJ tests the crucial $7.19 trendline support

Injective’s daily chart presents a mixed technical outlook, with the cryptocurrency trading between an important moving average and a rising support trendline.

At the time of writing on Thursday, INJ trades around $7.42, slightly below its 50-day Exponential Moving Average near $7.55.

The inability to reclaim this moving average suggests that buyers have yet to regain control of the near-term trend.

However, Injective continues to trade above an ascending support trendline around $7.19. The 200-day EMA, positioned near $6.27, also remains below the current market price.

Trading above this longer-term moving average suggests that the broader technical structure has not yet deteriorated as significantly as the recent price action might imply.

Nevertheless, momentum indicators are beginning to weaken. The Moving Average Convergence Divergence (MACD) has crossed below its signal line, indicating that bullish momentum is fading.

Meanwhile, the Relative Strength Index (RSI) stands around 44, slightly below the neutral threshold of 50.

This suggests that sellers are gaining influence, although the market has not entered oversold territory.

The ascending trendline near $7.19 represents Injective’s first important downside support.

A sustained move below this level would weaken the current technical structure and suggest that sellers are gaining greater control.

If INJ breaks decisively below the trendline, the next significant support stands at $6.71. Failure to defend $6.71 would expose Injective to another important support region around $6.27.

Despite the recent weakness, Injective could attempt another recovery if buyers successfully defend the $7.19 support trendline.

The first obstacle stands at the 50-day EMA around $7.55. A sustained recovery above this level would suggest that buying momentum is improving and could encourage traders to target higher resistance.

The next major barrier stands at $8.35, a horizontal resistance level that limited Injective’s gains during the previous week.

A decisive daily close above $8.35 would strengthen the bullish outlook and potentially open the door for a recovery toward $9.41.

The post Injective could dip further as futures Open Interest drops appeared first on CoinJournal.

Key takeaways

• Ethereum (ETH) is down 1.7% on Thursday, approaching the $2,000 psychological level. 
• Ethereum treasury company BitMine Immersion Technologies reported a $6.3 billion annual net loss, largely driven by $6.23 billion in unrealized losses on its digital asset holdings.
• ETH faces immediate resistance at $2,101 and $2,204, while a failure to sustain the rebound could expose the cryptocurrency to further losses toward $1,971 and $1,828.

Ethereum (ETH) is down 1.7% in the last 24 hours and is now approaching the $2,000 psychological level. 

The bearish performance followed a strong session for US technology equities, with gains in semiconductor companies and AI infrastructure providers helping restore investor appetite for risk-sensitive assets.

BitMine reports $6.3 billion annual loss as Ethereum holdings lose value

Ethereum treasury company BitMine Immersion Technologies (BMNR) reported substantial losses for its fiscal year ended August 31, 2026.

According to the company’s Form 10-K filing with the US Securities and Exchange Commission (SEC), BitMine recorded a net loss of approximately $6.3 billion.

The loss was primarily driven by $6.23 billion in unrealized fair value losses associated with its digital asset holdings.

BitMine held 5,901,837 ETH at the end of August, with a reported fair value of approximately $14.6 billion.

During the fiscal year, Ethereum’s price declined from $4,390 to $2,466, representing a loss of approximately 44%.

The sharp decline significantly affected the reported value of BitMine’s cryptocurrency portfolio.

Because the company measures its digital assets at fair value, changes in Ethereum prices are reflected in its financial results.

Ethereum price forecast: ETH faces strong resistance at $2,100

Ethereum’s technical outlook remains bearish as the sellers continue to dominate.  On the daily chart, ETH continues trading below its 20-day, 50-day, and 100-day Exponential Moving Averages (EMAs), indicating that sellers retain control of the broader trend.

The 20-day EMA stands near $2,251, while the 100-day EMA is positioned around $2,327.

Meanwhile, the 50-day EMA sits at approximately $2,348, creating another significant resistance barrier above the current market price.

The concentration of moving averages between $2,251 and $2,348 suggests that recovery attempts could face substantial selling pressure.

Momentum indicators also reflect the cryptocurrency’s weak technical position. The 14-day Relative Strength Index (RSI) hovers near 29, within the oversold region. 

Meanwhile, the Stochastic Oscillator stands around 18, indicating oversold conditions and suggesting that short-term selling pressure may be becoming stretched.

The first immediate resistance stands at $2,101, close to the psychological $2,100 level. A sustained move above this barrier could encourage buyers to target the next horizontal resistance around $2,204.

Beyond this level, ETH faces another hurdle near $2,250, reinforced by the 20-day EMA at $2,251.

A successful breakout above this resistance cluster would improve the near-term technical structure and potentially open the door for a recovery toward $2,327 and $2,348.

Further resistance stands at $2,355, followed by higher targets around $2,548, $2,636, and $2,781.

Ethereum remains vulnerable to renewed selling pressure if buyers fail to reclaim the $2,100 resistance level.

The first important downside support stands near $1,971. This level could attract buying interest if the cryptocurrency experiences another pullback toward the psychological $2,000 region.

However, a decisive breakdown below $1,971 would weaken the technical outlook further and expose ETH to a deeper correction.

The next significant support stands around $1,828, where buyers may attempt to establish a stronger defensive position.

A decline toward this level would represent a substantial setback for Ethereum’s recovery prospects.

The post Ethereum eyes $2k amid BitMine’s $6.3 billion loss appeared first on CoinJournal.

Key takeaways

• Dogecoin (DOGE) trades around $0.068 on Wednesday, recovering slightly after falling to a new yearly low of $0.066 during the previous session.
• Santiment data shows that whale wallets holding between 100,000 and 100 million DOGE collectively offloaded 750 million tokens since November 3.
• A breakdown below $0.065 could trigger further losses, while buyers must reclaim $0.077 and $0.079 to improve the cryptocurrency’s technical outlook.

Dogecoin (DOGE) is attempting a modest recovery on Wednesday after falling to its lowest price of the year, but persistent whale selling and weakening market indicators suggest that the meme coin remains vulnerable to further losses.

DOGE trades around $0.068, slightly above Tuesday’s yearly low of $0.066, as buyers attempt to stabilize the cryptocurrency following its latest decline.

However, on-chain data shows that large holders have been reducing their exposure, adding to selling pressure at a time when broader market sentiment remains fragile.

With Dogecoin trading below its major moving averages, the $0.065 support level could determine whether the cryptocurrency stabilizes or extends its broader correction.

Dogecoin whales sell 750 million DOGE as confidence weakens

Large Dogecoin holders have continued reducing their positions, contributing to the meme coin’s recent price weakness.

According to Santiment’s Supply Distribution data, three categories of whale wallets have collectively offloaded approximately 750 million DOGE since November 3.

These include wallets holding between 100,000 and 1 million DOGE, those controlling between 1 million and 10 million tokens, and larger addresses holding between 10 million and 100 million DOGE.

The decline in holdings across these groups suggests that substantial market participants have been reducing their exposure rather than accumulating during the downturn.

For Dogecoin, the latest selling activity coincides with a broader decline that pushed the cryptocurrency to a new yearly low.

Broader on-chain indicators reinforce the cautious outlook for Dogecoin. According to CryptoQuant’s market summary, both DOGE spot and futures markets are showing large whale orders alongside elevated trading activity.

The platform also identifies sell-side dominance across both markets, suggesting that selling pressure continues to outweigh buying interest.

The combination of large orders and heightened market activity can indicate that major participants are actively repositioning during periods of volatility.

The weakness in both spot and derivatives markets is particularly notable because it indicates that bearish sentiment is not limited to a single category of traders.

Dogecoin technical outlook: DOGE hits new yearly low of $0.066

Dogecoin’s technical outlook remains bearish following its decline to a new yearly low. At the time of writing on Wednesday, DOGE trades around $0.068, recovering slightly after touching $0.066 during the previous session.

Despite the modest rebound, the cryptocurrency continues trading below its major Exponential Moving Averages (EMAs), indicating that sellers retain control of the broader trend.

The 50-day EMA stands near $0.079, while the 100-day EMA is positioned around $0.081.

Meanwhile, the longer-term 200-day EMA sits at approximately $0.088, creating another significant resistance barrier above the current market price.

Trading below all three moving averages reflects the weakness in Dogecoin’s technical structure and suggests that recovery attempts could encounter renewed selling pressure.

Momentum indicators also support the bearish outlook. The daily Relative Strength Index (RSI) has declined into the low-30s, indicating weak buying momentum and suggesting that DOGE is approaching oversold territory.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative below the zero line, indicating that bearish momentum continues to dominate.

The combination of weak momentum and overhead resistance suggests that Dogecoin’s recent recovery may remain limited unless buying demand improves.

Dogecoin faces an important technical test as its price approaches the $0.065 support level. This horizontal support represents the next significant downside threshold following Tuesday’s decline to $0.066.

If DOGE fails to defend $0.065, sellers could regain momentum and push the cryptocurrency toward fresh yearly lows.

A decisive breakdown below this level would reinforce the broader bearish trend and suggest that the recent recovery attempt has failed.

Despite the prevailing bearish conditions, Dogecoin could attempt a short-term recovery if buyers begin accumulating near current levels.

The first resistance stands around $0.068, where the cryptocurrency is currently trading. A sustained move above this level could encourage buyers to target the next horizontal resistance at $0.077.

Beyond this barrier, the 50-day EMA near $0.079 represents another important hurdle. A breakout above the 50-day EMA would improve Dogecoin’s short-term technical structure and potentially open the door for a recovery toward the 100-day EMA at $0.081.

Further resistance stands at the 200-day EMA near $0.088, followed by the stronger horizontal barrier around $0.102.

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