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Hyperliquid Volume Dropped as HYPE Token Fell

Hyperliquid saw a 75 percent decline in trading volume last week while the HYPE token price dropped 12 percent.

Updated on Oct. 13, 2026 in Stock Markets

Bold vector editorial illustration featuring stacked rectilinear blocks of varying heights, representing fluctuating market volume and price levels.
Trading volume on the Hyperliquid exchange declined by 75 percent last week as the HYPE token price dropped 12 percent. AI Illustration. Upload story photo >

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Hyperliquid transaction volumes fell by 75 percent last week, accompanied by a 12 percent decline in the HYPE token price. Data from the exchange shows that open interest on the platform decreased from $8.9 billion to $8 billion during the same period.

Why it matters

Traders are currently holding back activity as they await clear signs that the cryptocurrency market has established a stable price floor. This caution is occurring alongside broader market pressures, including persistent geopolitical conflict in the Middle East that has maintained crude oil prices above $80 per barrel.

The HYPE token fell 12 percent over the past week from an all-time high of nearly $98 per token. Additionally, the Relative Strength Index on the 4-hour chart has dropped below 40, signaling a potential sell trend.

The players

SEC

The Securities and Exchange Commission is the U.S. government agency responsible for protecting investors and maintaining fair, orderly, and efficient markets.

CFTC

The Commodity Futures Trading Commission is an independent federal agency that regulates the U.S. derivatives markets, including futures and swaps.

The details

Traders utilizing the HIP-3 version of the blockchain to open positions have retreated, with market projections suggesting the HYPE token may test a support level of $76. While some analysts anticipate a potential rebound to $90, current market sentiment remains focused on waiting for definitive price support levels.

Timeline

  1. August 2026 marked the start of the crypto market rally.

  2. September 2026 was a period of sustained market rally.

  3. Last week saw the decline in Hyperliquid trades and open interest.

  4. October 2026 remains a window for a potential U.S. Federal Reserve rate hike.

  5. October 14, 2026 is the scheduled release date for the U.S. inflation report.

Market Dynamics

This contraction in cryptocurrency trading activity reflects broader investor caution as markets monitor the U.S. Federal Reserve interest rate cycle. The sector's sensitivity to macroeconomic indicators mirrors historical volatility patterns during periods of anticipated monetary policy shifts.

Retail investors should note that the current Relative Strength Index below 40 may indicate heightened volatility for those holding HYPE tokens. Those monitoring the broader market should remain aware of potential price adjustments if the asset hits the projected $76 support level.

The takeaway

Market participants are prioritizing risk mitigation until macroeconomic clarity improves regarding inflation and interest rates. Traders often look to indicators like the Relative Strength Index to identify potential reversal points in high-volatility assets.

What happens next

The U.S. inflation report is scheduled for release on October 14, 2026, which may influence market volatility.

Further reading

For broader context on current exchange trends, visit our Stock Markets section.

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