Hyperliquid’s Native Token HYPE Nears $50 Mark
Hyperliquid’s native cryptocurrency, HYPE, is making headlines as it approaches the $50 threshold. A recent 24-hour surge of 7.7% has pushed its value to around $47, largely fueled by the introduction of 4,600 Hypurr NFTs on the HyperEVM platform. This NFT collection launched with a robust start, maintaining a floor price near $68,700 and generating approximately $45 million in volume on its first day.
The remarkable sale of Hypurr #21 for 9,999 HYPE ($467,000) underscores the strong demand among NFT traders and highlights the early support from Hyperliquid’s community. A significant portion of these NFTs was distributed to participants from the November 2024 Genesis Event, with additional allocations to the Hyper Foundation and key contributors.
Hyperliquid (HYPE) Trading Volume Experiences a Surge
Advertisement Banner
The excitement surrounding Hyperliquid’s ecosystem is mirrored in its trading activity. The daily spot trading volume has increased, with futures volume rising by approximately 13.9% to reach $1.8 billion. Open interest has also grown to $2.28 billion, reflecting active short-term trading interest, even though long-term confidence remains measured.
From a technical perspective, the $50 mark serves as an immediate resistance level, while $44 provides robust support. With the Relative Strength Index (RSI) near 46, a negative Moving Average Convergence Divergence (MACD), and tightening Bollinger Bands, traders are on the lookout for potential volatility that could dictate the next price movement.
Institutional Interest and New Infrastructure Bolster the Narrative
Institutional interest continues to buoy optimism around Hyperliquid. Notably, Cathie Wood from ARK Invest recently likened Hyperliquid’s growth trajectory to the early days of Solana, drawing significant attention from institutional investors. Behind the scenes, the Hyperliquid team is expanding its infrastructure.
The launch of permissionless spot quote assets on the mainnet, with USDH backed by cash and U.S. Treasuries as the first quote, marks a pivotal development. This strategy facilitates community-driven listings through Dutch auctions and introduces HYPE/USDH pairs, enhancing liquidity and reducing entry barriers.
Since its launch in February 2025, the HyperEVM programmability layer has bridged smart contracts with the network’s HyperBFT consensus and HyperCore liquidity. This innovation empowers developers to create lending markets, enable vault tokenization, and implement liquid staking solutions.
Potential Risks: Unlock Overhang, Security Concerns, and Increasing Competition
Despite the positive momentum, investors should remain vigilant about potential risks. A competing perpetuals platform, Aster, briefly surpassed Hyperliquid’s weekly volume following its token launch, highlighting fierce competition within the decentralized exchange (DEX) market.
Security issues have also emerged, as researcher ZachXBT reported the theft of eight Hypurr NFTs valued at $400K shortly after their launch, underscoring the importance of enhancing wallet security measures. Additionally, a looming $12 billion HYPE unlock could impact price stability, as additional supply might exert downward pressure if not met by adequate demand.
In conclusion, should HYPE surpass the $50 mark on substantial volume, bullish traders may aim to retest the $59 all-time high achieved on September 18, with potential movement into the $55–$65 range. Conversely, if the price falls below $44, it could descend into the high $30s.
Editorial Process
At Bitcoinist, our editorial process is dedicated to delivering meticulously researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page undergoes rigorous review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
“`
