Fundamental Uplift First, Whale Accumulation Intensification Adds Bullish Stimulus, Propelling HYPE Up 50% in One Week

BlockBeats News, January 29th, the on-chain Perp Dex flagship project Hyperliquid has seen a continuous rebound in the past week. After the price fell below $21 and hit bottom, it then rose all the way up, breaking through $34 at its peak. The weekly highest surge exceeded 50%, with its FDV once again surpassing the $30 billion mark, now standing at $30.19 billion. Amidst the overall cooling trend in the crypto market, the dazzling performance of HYPE is driven by a series of combined forces:

· Significant Improvement in Fundamentals: Influenced by the continuous bull market in US stocks and precious metals, Hyperliquid and its Perp DEX ecosystem projects have seen a continuous active growth in trading volume. In the past 24 hours, gold and silver contracts on Hyperliquid both entered the top ten in terms of platform trading. On the 26th, the open interest volume on Hyperliquid alone had almost reached the sum of other platforms, and the trading volume has also continued to lead this month. The significant improvement in fundamentals has provided a good narrative environment for the continuous rebound of HYPE.

· Intensive Whale Accumulation: Multiple on-chain addresses have been continuously buying HYPE this week and longing with leverage. Of particular note is a new address starting with '0x9D2', which invested $45 million, continuously placing buy orders for HYPE. The address suspected to be a16z was also revealed to have increased its holdings by buying an additional 243,000 HYPE after 4 months. The continuous buying pressure on-chain is undoubtedly the direct driving force behind the rise in HYPE.

· Positive News Stimulus: This morning, the always-compliant and rigorous Coinbase announced the addition of HYPE to its listing roadmap, reigniting bullish sentiment for HYPE.

However, with the overall market pulling back this morning, HYPE also experienced a correction, now trading at $32.26. Given the series of positive factors, whether HYPE will continue to rise against the trend or consolidate sideways, the sustainability of fundamental improvement and on-chain whale movements are worth high attention.