HYPE, the native token of Hyperliquid, surged 60% in days, climbing from $21.80 to $34.90 as of January 29, 2026, per Crypto Breaking News. The rally triggered $20 million in bearish liquidations, fueled by a staking unlock easing selling pressure and reports of PURR, a Nasdaq-listed treasury firm, adding HYPE to its reserves, per. ARK Invest’s Big Ideas 2026 report praised Hyperliquid as a revenue-efficient DeFi derivatives player, boosting institutional interest, per. X posts from @CryptoInsights highlight 1.1M HYPE whale accumulation.
Nansen data shows whale wallets added 1.1M HYPE ($27M) weekly, with smart money holdings up 12.6%, per. Hyperliquid’s open interest hit record levels, but perpetual volumes remain flat, signaling concentrated rather than broad demand, DefiLlama. PURR’s on-chain transfers and staking via Anchorage underscore treasury strategies, but Continue Capital’s prior sales and January unlocks (e.g., 1.47M HYPE) warn of potential pressure, per. BTC ($113,234) stability supports DeFi, but HYPE’s gains appear event-driven.
ARK Invest framed Hyperliquid as a leader in DeFi derivatives, potentially rivaling centralized venues on efficiency, per. Chainlink-style RWA feeds and ETF data integration enhance Hyperliquid’s institutional appeal, per. Ranked first in RWA development by Santiment, Hyperliquid benefits from $850M TVL and 75% Bitcoin hashrate security. However, concentrated open interest and market maker flows raise sustainability concerns, per. X posts from @ChainLinkGod note HYPE’s $29 resistance as pivotal.
HYPE eyes $29 if BTC holds $115,000, but a $20 retest looms if altcoins bleed, per Emperor on X. Investors should track PURR disclosures and staking unlocks via Nansen. Dollar-cost average into HYPE with stop-losses below $21, or diversify into USDC or ETH ($4,070), per TradingView. Follow @TheBlock__ on X for updates. Hyperliquid’s DeFi efficiency could drive $55–$120 by 2030, per, but transient catalysts warn of volatility in 2026.
