Hyperliquid (HYPE) Daily Market Analysis 02 March 2026

Hyperliquid's HYPE token surges as geopolitical tensions drive traders to commodity derivatives – here's the latest: • HYPE rallied 13-20% over 1-2 March 2026, hitting $32.17 as traders hedged Middle East risks • Platform volume hit $6.5B as oil & gold perpetuals saw record demand during weekend strikes • Open interest reached $1.35B with $2.32M in short liquidations indicating a strong short squeeze • Protocol allocates 97% of fees to token burns, with 24-hour fees jumping to $2.8B • Technical outlook shows bullish momentum but RSI at 65 suggests potential for near-term pullback