Hyperliquid draws $12B inflows as HYPE rises 25% YTD — traders watch TVL, derivatives

Published: 2026-02-17 07:29:10 |

Hyperliquid has become a major capital hub, drawing roughly $12 billion of inflows over the past three months — nearly matching Ethereum and trailing only Arbitrum. It was the only top‑10 network to post positive monthly growth, with TVL up about 9% to above $2.3–2.4 billion depending on the report. Native token HYPE is up ~25% year‑to‑date despite an ~8% pullback over the last week. Derivatives activity is strong: perpetual trading volume and open interest are high (open interest ≈ $1.12B; weekly perp volume and TVL metrics reported as elevated), perpetual funding rates are positive, and staking rewards for HYPE holders have been sizable. Network revenue hit record levels in the most recent report, highlighting rising on‑chain utility and trader engagement. Key trading takeaways: monitor TVL inflows, on‑chain stablecoin flows, open interest and funding rates for confirmation of bullish momentum; watch resistance near $48 and all‑time highs near $59 for HYPE price action. Given recent consolidation and neutral momentum indicators, traders should combine on‑chain signals with risk management before positioning.

Bullish

The combined reports show meaningful capital inflows, rising TVL, strong derivatives metrics (high open interest, positive funding rates, elevated perp volume) and record network revenue — all indicators that typically support price appreciation for the native token. HYPE’s 25% YTD gain and substantial staking rewards reinforce demand-side strength. Short‑term caution is warranted because of a recent ~8% pullback and neutral momentum indicators (e.g., RSI), so the immediate price reaction could be consolidation or choppy rallies. However, if TVL and on‑chain inflows continue to grow and funding rates remain positive, that would likely sustain a bullish trend toward resistance levels around $48 and the all‑time high near $59. Therefore the overall price impact is classified as bullish, with potential short‑term volatility.