Total value locked on Kinetiq has jumped from roughly $458 million in July to over $2.1 billion today. Part of the increase can be attributed to a rise in the price of HYPE, and the other big driver has been raw deposits.
Crypto edged higher with bitcoin near $114K and DOGE leading, while a CF Benchmarks model says BTC trades below fair value relative to money supply growth, a pattern that has preceded rallies.
Despite facing resistance near $3.02, the market structure suggests accumulation, with bulls defending support around $2.98 as traders gauge momentum for a push toward higher extension levels.