$500 to Almost $700K? Web3 ai on Track to Make Millionaires as Hyperliquid and BGB Surge

The Hyperliquid (HYPE) price update shows bulls aiming for the $25 mark after open interest surged to a record $697 million.

Hyperliquid (HYPE) bulls are aiming for the $25 mark as the token trades above key support at $19.24. Open interest surged to a record $697 million, signaling strong momentum.

Technical signals from RSI(14) and MACD(12,26) suggest more upside could be in play.

Bitget Token (BGB) price prediction is targeting $25 by 2030 as the exchange expands globally and burns tokens consistently.

Web3 ai is gathering attention with its presale starting at just $0.03 and offering 1,333x upside potential. Early participants could see returns of $666,000 from a $500 buy.

Hyperliquid Price Surges: HYPE Eyes $25 Breakout After Record Open Interest

Hyperliquid (HYPE) token trades at $21.20, nearing a key resistance level. Bulls are aiming for a move toward the $25 mark, especially after recent volatility pushed open interest to an all-time high of $697 million, according to CoinGlass.

The capital influx into Hyperliquid derivatives is remarkable, considering it reached $622 million just a week ago. This influx of new money could be fueling the bullish pressure.

A bounce off the crucial support at $19.24 could set the stage for a 17% rally toward the $25 mark.

Momentum is also getting a boost with Ethena Labs’ new USDe stablecoin launch on Hyperliquid’s own exchange and HyperEVM blockchain. This move injects more stablecoin liquidity into the protocol, advancing its DeFi ambitions.

Technical analysis signals from RSI (14) and MACD (12,26) are both in bullish territory, indicating a strong uptrend with more upside potential.

Chart: TradingView

Hyperliquid is a layer-1 blockchain known for its HyperEVM compatibility, enabling developers to easily port Solidity contracts from the Ethereum Virtual Machine.

This protocol provides a decentralized platform for deploying and using various DeFi protocols, tokens, and NFTs.

Hyperliquid’s native token, HYPE, plays a crucial role in securing the network through staking and governance. It is also used to pay gas fees for transactions within the ecosystem.

The Importance Of Open Interest In Derivatives Trading

Open interest (OI) in derivatives trading is a key indicator that can provide valuable insights into market sentiment, liquidity, and potential price direction. It represents the total number of outstanding futures and options contracts at the end of a trading day.

In essence, each time a futures or options contract is opened, open interest increases. Conversely, when a contract is closed, open interest decreases.

Rising open interest usually indicates that more market participants are entering the market with new positions, signaling strong momentum and potential for further price moves in the same direction.

However, if the price is trending down while open interest is increasing, it can suggest that traders are rolling over their positions to the next maturity to avoid liquidation.

On the other hand, if the price is going up and open interest is decreasing, it indicates that traders are exiting their positions, which can limit the scope for further price rallies.

When open interest decreases at the same rate as the price is decreasing, it signals that the current trend is quickly exhausting itself.

Moreover, if open interest is increasing at a faster rate than the price, it suggests that the market is becoming more volatile and there is potential for more significant price swings in the near future.

To summarize, tracking changes in open interest can provide valuable context for understanding market dynamics and anticipating potential price movements.

It is an essential metric for technical analysis and can be particularly useful in markets like cryptocurrencies, where volatility is typically high.

This analysis is for informational purposes and should not be considered a recommendation to invest. Before making any investment decisions, consult with a qualified professional and consider your own risk tolerance and financial situation.

Bitget Token Price Prediction: Will BGB Reach $25 By 2030?

The Bitget Token (BGB) price prediction for 2030 is targeting $25 as the exchange continues to expand globally and burn tokens consistently.

The exchange has already hit major milestones, boasting 120 million users and $2 trillion in cumulative trading volume by early 2025, according to reports. BGB reached a peak of $9 during December’s rally and currently trades at $4.32.

In early 2024, Bitget secured licenses in Europe, Asia, and Latin America, showcasing its commitment to expanding into new markets.

The exchange’s visibility is increasing thanks to partnerships with La Liga and support for emerging trends like GameFi and tap-to-earn ecosystems.

Analysts at Tokenhell suggest that if Bitget rolls out its blockchain and continues scaling operations, BGB could

News data source: kdj.com

The above is the detailed content of $500 to Almost $700K? Web3 ai on Track to Make Millionaires as Hyperliquid and BGB Surge. For more information, please follow other related articles on the PHP Chinese website!