Schlagwort: crypto business

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Hyperliquid price prediction: is $100 next after HYPE hit new ATH?

  • Hyperliquid price is at $37 after hitting an all-time high above $39.
  • The HYPE token is up amid massive buying pressure.
  • Key on-chain metrics suggests the decentralized perpetual trading platform could explode to target $100.

Hyperliquid (HYPE) price reached its all-time high above $39 on May 26, breezing to the peak amid massive buying pressure.

HYPE has outpaced Solana and Cardano in recent performance.

Per market data, the decentralized perpetual trading platform recorded daily trading volume exceeding $426 million as HYPE reached a new all-time high.

This marked a significant increase from the $292 million logged the previous day when the token was trading around $34.

The layer 1 blockchain also managed other milestones across its ecosystem, with the price surge helping the total value locked jump to a new high.

Open interest also rose as HYPE’s uptrend continued to attract attention, while other on-chain metrics such as stablecoin market cap pumped to a record high.

Hyperliquid and key network growth

As noted above, on-chain metrics for Hyperliquid are pointing to potential upward continuation amid broader market moves.

Per Coinglass data, the open interest in the HYPE token has jumped to $1.41 billion.

OI hovered around $900 million last week. This represents an all-time high for OI in the token that traded to lows of $3.20 in late November 2024 and is up an impressive $1,061% since then.

The rebound as the altcoin reached its ATH was even bigger.

This positions HYPE for a potential breakout, as fear of missing out on one of the cycle’s top-performing altcoins draws in new buyers.

Whales have recently shown confidence in the long-term price of HYPE, and DeFiLlama shows the Hyperliquid 1 TVL has topped $1.75 billion.

The platform has seen daily revenue hit $1.87 million, while DEX and perps 24-hour counts stand at $509 million and $6.9 billion, respectively.

Meanwhile, the stablecoin market cap across the platform has grown to over $3.62 billion.

HYPE price prediction

While Hyperliquid’s token has traded to lows of $36.14, as the area around $38 looks to offer bears an advantage, analysts are bullish about HYPE.

The surge to a new ATH has moved HYPE off the lows seen amid negative sentiment earlier in the year.

If bulls break above $40, could another leg up bring the much-desired $100 mark into view?

A rally for HYPE amid price discovery could see bulls target the psychological mark, in this case, catalysts including altcoins breakout and fundamental interest in the DEX and perps platform.

On the downside, key support levels could be around $32 and $26.

The post Hyperliquid price prediction: is $100 next after HYPE hit new ATH? appeared first on CoinJournal.

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Cardano gains 11% in May, but weak derivatives data hint at looming pullback

  • ADA is currently priced at $0.7677, down 0.04% in the last 24 hours.
  • A bullish MACD crossover has formed, supporting short-term upside.
  • ADA futures open interest dropped 0.43% to $920.12 million.

Cardano (ADA) has recorded an 11% monthly gain so far in May, buoyed by a technical bounce from the $0.72 support level.

However, underlying market indicators raise caution.

Despite recent bullish momentum, ADA continues to struggle within a tight trading range and faces potential bearish pressure from weakening derivatives data.

At the time of writing, ADA is priced at $0.7677, reflecting a minor 0.04% decline over the last 24 hours.

Cardano price
Source: CoinMarketCap

On the 4-hour chart, ADA rebounded from the 200-period exponential moving average (EMA) at $0.74, climbing toward a short-term resistance level of $0.7745.

This movement marks the latest attempt to retest the $0.84 resistance zone, which Cardano last approached on 13 May and 23 May.

Yet, the upside move has been met with hesitation.

The token remains stuck between the key $0.72 and $0.77 levels — a range that analysts are closely monitoring as a “no-trade zone” due to limited directional clarity.

Mixed technical signals

Currently, ADA is consolidating above the 200-day EMA, with the moving average structure offering some near-term support.

The MACD indicator has formed a bullish crossover, further confirmed by positive histogram bars.

This setup suggests that buyers still maintain some control over short-term price action.

However, not all technical signals are aligned. A bearish crossover between the 50- and 100-day EMAs is beginning to form.

If ADA breaks below the 200-day EMA, this crossover could result in a “death cross” scenario — a historically bearish technical pattern that often signals extended declines.

Cardano’s ability to maintain momentum will likely depend on whether it can break through the $0.77 resistance barrier.

A successful breach could lead to a rally back toward the $0.84 level.

In contrast, failure to hold above $0.72 could see ADA retesting longer-term support near $0.70.

Derivatives data weakens

While spot prices hold firm, data from the derivatives market presents a less optimistic view.

According to CoinGlass, open interest in ADA futures contracts has declined 0.43% to $920.12 million.

This declining activity in the derivatives space reflects weakening trader interest and reduces the likelihood of a strong breakout.

It also indicates that large speculative positions are being trimmed or closed, a trend that often leads to price consolidation or short-term reversals.

ADA at a critical level

Cardano’s price action now depends on whether it can decisively break out of its current range.

While there is potential for a move back to $0.84 if bulls regain momentum, current market dynamics suggest ADA could remain range-bound or even experience renewed selling pressure.

Volatility in the broader crypto market has also contributed to ADA’s stagnation.

Bitcoin is currently holding near the $109,000 level, and major altcoins are consolidating after strong April rallies.

Without a strong catalyst, Cardano may struggle to attract fresh inflows in the short term.

As of now, ADA remains in a technical holding pattern, with both bullish and bearish scenarios in play.

The next few trading sessions will be critical in determining whether Cardano can reclaim its March highs — or face another leg lower.

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Bitcoin rally pauses below $110K; profit-taking by short-term holders intensifies

  • Bitcoin slipped to $109,000 Monday amid sluggish Memorial Day trading, but remains up 1.7% in 24 hours.
  • Short-term Bitcoin holders realized $11.4 billion in profits over the past 30 days, intensifying selling pressure.
  • A temporary US delay on 50% EU tariffs (until July 9) spurred overnight gains in crypto and European stocks.

Bitcoin experienced a slight pullback to $109,000 on Monday, May 26th, navigating sluggish trading conditions as traditional US markets remained closed for the Memorial Day holiday.

Despite this minor dip, the premier cryptocurrency maintained a position of strength, holding onto gains from a gentle weekend rise and remaining tantalizingly close to the all-time high it achieved just last week.

While Bitcoin consolidated, the broader digital asset market saw pockets of notable activity.

The CoinDesk 20 index, which tracks the top 20 digital coins (excluding stablecoins, memecoins, and exchange tokens), highlighted decentralized exchange Uniswap (UNI) as the day’s standout performer, with its token surging 6.6%.

Tokens for Chainlink (LINK) and Avalanche (AVAX) also posted respectable gains of 3.3% and 3.4%, respectively.

These gains largely materialized overnight, receiving a boost from a shift in US trade policy rhetoric.

President Trump announced on Sunday that the implementation of proposed 50% tariffs on EU goods would be delayed until July 9.

This was a reversal from his statement on Friday, which had called for the tariffs to take effect on June 1 and had consequently triggered a sell-off in risk assets, including cryptocurrencies.

European stocks, initially shaken by the tariff threat, rebounded on this news of a temporary reprieve.

Profit-taking wave: short-term holders cash in

Despite the overall positive sentiment that has recently propelled Bitcoin near record highs, analysts suggest the cryptocurrency may have entered a more volatile, consolidatory phase. T

raders are currently digesting the rapid, nearly 50% surge from the lows seen in April, according to a Monday report from Bitfinex analysts.

A significant factor potentially capping Bitcoin’s immediate upside is an intensification of profit-taking by short-term holders.

The Bitfinex report highlighted that this particular cohort of investors has realized a substantial $11.4 billion in cumulative profits over the past 30 days.

This figure stands in stark contrast to the $1.2 billion in profits realized by the same group in the preceding 30-day period, indicating a significant ramp-up in cashing out gains.

“At these levels, the risk emerges that profit-taking outpaces new demand inflows,” the Bitfinex analysts wrote.

Unless thereʼs a corresponding rise in new capital entering the market to absorb this supply, prices may begin to stall or even retrace.

Navigating choppy waters

The coming days are seen as crucial in determining Bitcoin’s near-term trajectory.

“The next few days will be key to gauge whether the dip to $106,000 has set the range lows or a bigger reset is in the cards,” the Bitfinex report stated.

Should a more significant pullback materialize, a key level of support to monitor is the short-term holder cost basis, which currently sits around $95,000.

This represents the average price at which this group of investors acquired their Bitcoin.

Despite the potential for near-term choppiness and profit-taking, the underlying outlook remains constructive, according to the analysts.

They pointed to strong inflows into US spot Bitcoin ETFs—totaling an impressive $5.3 billion in May so far—alongside currently low market volatility and a lack of excessive speculative froth.

These factors, they argue, suggest that Bitcoin is likely to resume its upward trend heading into the third quarter of the year, following this potential period of consolidation.

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YZi Labs investment sends Avalon Labs AVL token through the roof

  • YZi Labs has revealed it has invested in Avalon Labs, sparking a 30% surge.
  • Avalon has minted $613M in BTC-backed USDa stablecoins.
  • Avalon targets to offer institutional-grade Bitcoin DeFi services.

AVL token price is soaring after YZi Labs (formerly known as Binance Labs) revealed it has made a strategic investment in Avalon Labs, a rising star in the Bitcoin DeFi sector.

The investment announcement ignited a vertical rally in the AVL token, which surged by over 30% to reach a one-month high, pushing prices briefly past the $0.31 mark before stabilising near $0.27 at press time.

Avalon Labs (AVL) price chart

Notably, this marks YZi Labs’ first investment in nearly a month, reinforcing the exclusivity and high standards of its portfolio selection, which typically includes only a handful of projects each quarter.

Although the investment sum remains undisclosed, the market reaction reflects growing investor confidence in Avalon Labs’ ambitious roadmap and its pivotal role in Bitcoin-backed decentralised finance.

Avalon Labs’ institutional-grade DeFi protocol vision

Transitioning into its next phase, Avalon Labs aims to establish itself as the leading institutional-grade DeFi protocol by using Bitcoin as collateral for lending, stablecoin issuance, and other financial services.

In fact, the platform has already minted over $613 million in its USDa stablecoin, positioning it as the second-largest issuer of Bitcoin-backed stablecoins behind only Sky Protocol.

As part of its growing ecosystem, Avalon also offers BTC-collateralised loans, a yield-bearing savings account, and even a credit card, all designed to increase Bitcoin’s real-world financial utility.

Backed by 20,000 non-custodial BTC and servicing over 300,000 daily active users, Avalon is carving a space in the emerging Bitcoin DeFi landscape, which now holds a total value locked of $6.69 billion.

Although Avalon’s current TVL has dipped to $1.22 billion from earlier highs, the investment by Yzi Labs remains substantial, particularly considering the end of its airdrop program and the volatile state of the broader market.

Plan to enhance regulatory compliance

Avalon plans to use the new capital to enhance its regulatory standing across jurisdictions, which may open the door to traditional finance partnerships and large-scale institutional lending.

The renewed focus on compliance and institutional access aligns with YZi Labs’ investment thesis, which prioritises projects that combine strong fundamentals with global growth potential.

Moreover, the connection with YZi Labs could signal future inclusion in the Binance ecosystem, especially if AVL demonstrates sustainable growth and increased user adoption.

Despite being an Ethereum-based token, AVL’s rising prominence could earn it further exchange listings and increased liquidity, particularly as Bitcoin DeFi garners wider attention.

Avalon’s success story also includes being named the Season 8 winner of the Most Valuable Builder event, a key incubator program led by BNB Smart Chain, YZi Labs, and CoinMarketCap.

Given the increasing demand for BTC-backed products, Avalon appears well-positioned to benefit from the next wave of institutional and retail adoption in decentralised finance.

As momentum builds, AVL remains one of the most closely watched mid-cap tokens in the space, especially as investors await further token unlocks and platform updates.

Ultimately, the YZi Labs investment has not only boosted AVL’s price but also solidified Avalon’s role as a frontrunner in transforming Bitcoin into a capital-efficient asset class.

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Raydium price bounces back as RAY token buyback fuels bullish momentum

  • Raydium (RAY) price is rising, driven by ongoing token buybacks.
  • The bullish trend is supported by higher highs and a moving average crossover.
  • Traders should watch for a breakout at $3.50, with $4.20 as the next major resistance.

Raydium (RAY) is currently experiencing a notable resurgence in price, gaining the attention of both traders and long-term investors across the crypto landscape.

After a strong rally from $2.40 to $3.86, the token has entered a phase of consolidation, now trading around $3.25, signalling the potential for another leg up.

This upward movement is being driven primarily by Raydium’s ongoing token buyback program, which has become a major catalyst in reinforcing bullish momentum within the market.

The RAY token buyback program

Since mid-March, Raydium has maintained steady buybacks, allocating 12% of trading fees toward purchasing RAY from the open market.

Raydium token buyback

Although the intensity of the buybacks has slightly tapered off, their continued presence and periodic spikes have provided a solid base of demand for the token.

Raydium price analysis

The technical setup has also turned decisively positive, with RAY printing a consistent series of five higher highs and higher lows, which signals a strong uptrend.

At the same time, the price has remained above both the 20-day exponential moving average and the 50-day simple moving average, reinforcing the bullish sentiment among traders.

These two indicators have maintained a bullish crossover since mid-April, and this trend has yet to show signs of weakening.

Currently, local resistance lies at $3.50, and a successful breakout above this level could trigger a swift move toward the next key resistance at $4.20.

That target level previously acted as a critical support zone before the February sell-off and now stands as the next bullish milestone.

Raydium price chart

Should Raydium manage to reach $4.20, it would represent a nearly 30% gain from its current trading level, drawing even more attention to the asset.

The Relative Strength Index (RSI) is currently near 57, indicating that the token is neither overbought nor oversold, and suggesting there is ample room for further gains.

If $4.20 is breached, the next notable resistance level sits near $5.70, where the token faced repeated rejections before and after the rally that peaked in January.

Despite the bullish setup, a decline below the key support level of $2.20 would invalidate the upward thesis and open the door to potential downside toward $1.50.

Nonetheless, the trend remains structurally strong, with momentum indicators supporting continued upside in the near term.

The platform also boasts a total value locked (TVL) of over $2.07 billion, highlighting its prominent role in the Solana-based DeFi ecosystem.

In the last 24 hours alone, the trading volume has exceeded $79.5 million, which reflects heightened interest in the token during this consolidation phase.

From a historical perspective, Raydium reached an all-time high of $16.83 in September 2021, while its lowest point came in December 2022 at $0.1344.

Since then, the cryptocurrency has shown a significant recovery, supported by both market participation and internal initiatives like token buybacks.

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