Hyperliquid Grabs 10.5% OI Long in XMR Market

A significant development has taken place in the Monero market with a new wallet, Hyperliquid, entering the scene and capturing 10.5% of total open interest (OI) long.

This newcomer has deposited $2 million in USDC and opened a long position of 10,962.78 XMR valued at $4.18 million at $383.23.

The sizeable position ranks as the second-largest among OI, with additional limit buys layered between $378.20 and $381.40.

The move comes even as Monero's price is trading within a bearish structure on the 4-hour chart at $118.70, with the EMA50 acting as immediate resistance at $123.34 and the EMA200 capping upside at $138.48.