Chart of the Week: Worldcoin and Hyperliquid May Continue Price Rally
Worldcoin and Hyperliquid price forecast
Worldcoin and Hyperliquid rank among the top two cryptocurrencies by weekly gains. CoinGecko data shows that WLD and HYPE gained nearly 35% in the past week. The two tokens could extend their price rally next week.
WLD and HYPE on-chain analysis
Worldcoin’s on-chain indicators support a bullish thesis for WLD in the coming weeks. Network realized profit and loss, a metric that identifies the net profit/loss of all tokens moved on a given day shows consistent loss realization from traders throughout the first part of 2025.
NPL shows likely capitulation in WLD, typically followed by an increase in a token’s price. The whale transaction count in two segments, valued at $100,000 and $1 million and higher shows spikes this week.
Large wallet investors moved their WLD tokens realizing gains on their holdings, in a relatively small volume compared to the count of traders taking losses in the past few weeks. This shows selling pressure on WLD is relatively low and there is scope for price gain next week.
Hyperliquid’s on-chain metrics show a spike in trade volume, weighted sentiment and social dominance alongside the rally. HYPE price rallied this week, driving up the share of HYPE’s mentions across social media platforms and weighted sentiment turned increasingly positive.
Derivatives traders bullish on HYPE rally, WLD hype fades
Derivatives data from Coinglass shows that long/short ratio exceeds 1 for HYPE. This implies traders are bullish on gain in HYPE price, and short positions dominate liquidations in the 24 hour timeframe.
The total liquidations for the last 24 hours are $940,000, a majority of short positions paid for longs, according to Coinglass data.
The futures open interest chart for HYPE shows that OI is at its highest level since December 2024. OI has climbed to $1.16 billion, during the ongoing price rally and this marks the total value of open derivatives contracts in HYPE.
Worldcoin derivatives data analysis shows nearly 50% increase in OI in the last 24 hours. Similar to HYPE, short liquidations exceed long and the total volume of liquidations stands above $7 million.
The long/short ratio is under 1 and shows derivatives traders may not be as bullish on WLD price gain and sidelined buyers should exercise caution when opening a trade in the AI token.
Catalysts driving gains in WLD and HYPE
For WLD, one of the largest catalysts is the announcement of Worldcoin’s expansion and the direct token sale to a16z and Bain Capital Crypto. News of a direct purchase of $135 million in WLD has fueled a bullish sentiment among traders.
Through its official account, the Worldcoin team said that the investment was a direct purchase of non-discounted tokens, by two of the “earliest backers” of the project.
Hyperliquid has made several announcements about bridges built to transfer tokens to the HYPE ecosystem, new listings and partnerships. However, a recent tweet from Maelstrom co-founder Arthur Hayes has supported the social media mentions of HYPE.
Early on Friday, Messari Crypto reported that a Hyperliquid short-seller got liquidated for $23 million as the token posted nearly 90% gains.
Tether and its partner Plasma Foundation power zero-fee stablecoin transfers and the initiative was extended to the Hyperliquid exchange, adding to the list of catalysts.
The on-chain perpetual exchange’s new listings, partnerships and the arrival of zero-fee stablecoin transfers in its ecosystem are currently the largest catalysts driving gains in HYPE token.
