According to CoinMeta, the trading volume of Hyperliquid ( HYPE ) on major exchanges has soared by over 680%, with the price rebounding to $91.41, an increase of 15.22% in the past 24 hours. Futures trading volume reached $13.47 billion, while spot trading volume was approximately $1 billion. Binance's daily trading volume was $3.89 billion, showing a growth of 789.13%. The local exchange Hyperliquid recorded $3.06 billion in trading volume, with a growth of 738.72%. The current open interest is $4.02 billion, indicating activity in the derivatives market. Despite the strong price performance, derivatives liquidity is not healthy; there were about $32.57 million in liquidations in the past 24 hours, and net futures outflows amounted to $50.28 million. The increase in trading volume and renewed market interest for HYPE support a cautiously bullish outlook. The resistance range between $94 and $98 is a key focus, and breaking through this range may determine the next direction for HYPE.