As of March 13, HYPE price exceeded $38, with whale address 0x4f9's HYPE long position unrealized gains reaching $870,000, with a return rate of 88%. The address began trading on March 9, with a position size of approximately $9.9 million, an average price of $34.8, and continues to accumulate.

Gate News bot message, the Altcoin Season Index has reached 40. Over the past 90 days, top-performing coins include $KITE with +222.86%, $CC with +113.17%, $STABLE with +86.83%, $MORPHO with +66.03%, $SKY with +41.20%, $JST with +37.99%, $ZRO with +37.37%, $DCR with +33.65%, $HYPE with +30.39%, and

Greeks.live predicts that a large volume of BTC and ETH options will expire on March 13th, with declining market rebound momentum and extremely low trading activity. Options data indicates the market is in a wait-and-see state, still in a bear market, with the recent AI hype failing to improve the situation.

The native token HYPE of the decentralized derivatives platform Hyperliquid has recently performed strongly, with the price rising over 8% to reach a four-week high. Due to Middle East geopolitical tensions, oil prices have surged, driving a 42% increase in HYPE trading volume. Analysts expect HYPE to continue its strong momentum with high activity, potentially testing targets of $40 and $41.7.

On March 12, as the HYPE price rebounded above $37, the largest bullish whale address approached liquidation, with a position size of $51.5 million, and unrealized losses narrowed to $2 million. The whale withdrew $4.5 million in margin and actively raised the mark price to $27.5, indicating a bullish outlook on HYPE. The position has been held for nearly five months, and despite significant unrealized losses, the holder remains steadfast.

According to Coinbob monitoring, Hyperliquid early contributor Loracle reopened a 5x leveraged HYPE long position on March 10, with an average entry price of $34.56, and the current floating return rate has reached 35%. This address previously bottomed out precisely in January and held a maximum position of over $52 million.

Gate News Report, March 12 — According to DefiLlama data, the Hyperliquid platform currently has cross-asset (supporting USDC, USDT) assets totaling $4.507 billion. In the past 24 hours, the platform's annualized fees reached $747 million, and over the past 30 days, the platform's perpetual contract trading volume totaled $178.23 billion. Market data shows that HYPE is currently trading at $37.14, up 7.33% in the past 24 hours.

As geopolitical tensions fluctuate, traders are turning to the decentralized platform Hyperliquid for perpetual oil contract trading. In the past 24 hours, the trading volume reached $991 million, significantly higher than the $75,000 on a certain CEX platform. Due to the Iran situation, Brent crude oil prices have experienced notable volatility. Traders are leveraging the features of the crypto market for margin trading, and the HYPE token price has surged due to increased trading activity.

Hyperliquid announced the official launch of HIP-4 on the testnet on March 11, introducing the first batch of cyclical binary options markets based on HyperCore's spot prices. The contract is fully collateralized, featuring nonlinear payoffs and expiration characteristics. Future plans include launching one-day expiration markets for BTC and HYPE, as well as multi-outcome markets. The network upgrade will expand the scope of portfolio margin applicability and set limits on the supply and lending of USDH.