Arincen - The Hyperliquid platform has jumped to unprecedented levels, recording $29 billion in trading volume over the last 24 hours and $7.7 million in fees, according to data from August 15, indicating accelerated activity and growing investment interest.

The HYPE token is trading at $48.57, up 19% over the week and 1.6% over the day, just 1.1% away from its historical peak of $49.75 recorded on July 14, after a week of stable gains within a range between $40.46 and $49.13.

DefiLlama data showed a jump in total value locked on the platform to $610 million from $460 million in mid-July, along with a record increase in monthly flows from $21.35 million in June to $349.27 million in July.

The momentum was driven by Circle's announcement on July 31 about the listing of USDC in its original version and CCTP V2 on Hyperliquid, enabling direct and cross-chain transfers with greater liquidity for decentralized finance and derivatives markets. Anchorage Digital Bank also revealed on August 13 the provision of institutional custody services for the HYPE token via HyperEVM.

Technically, the indicators support a strong upward trend, as all moving averages recommend buying, and the Relative Strength Index (RSI) is stable at 63 in the neutral zone, while MACD and stochastic readings (87.81) confirm continued buying pressure and the approach of a new bullish wave.