- HYPE token hit an all-time excessive of $37, up 285% from its April low of $9, as Hyperliquid’s buying and selling quantity surged to $67.7B, surpassing PancakeSwap and Uniswap.
- Platform progress is booming, with over $1.53 trillion in perpetual futures quantity and $17M in weekly payment income — 97% of which works again to HYPE holders.
- Technical evaluation suggests extra upside, with targets of $47, $51.68, and probably $128 if momentum mirrors Solana’s 2021 rally.
Hyperliquid’s native token, HYPE, is on a roll — like, severely. On Could 23, it smashed by way of to a brand new all-time excessive of $37, wrapping up a monster rally that began again on April 4, when it was sitting at simply $9. That’s a whopping 285% climb in lower than two months. Not too shabby.
On the time this piece was written, HYPE was chillin’ round $35.50. That offers it a market cap of $11.2 billion, whereas its absolutely diluted valuation’s hovering round $35.7 billion. Large numbers, nevertheless it’s not simply the token doing numbers — the entire Hyperliquid platform is seeing motion.
Hyperliquid’s Quantity Rockets Previous the Competitors
In accordance with DeFi Llama, weekly quantity on Hyperliquid spiked 51%, touchdown at a whopping $67.7 billion. That makes it essentially the most energetic decentralized finance (DeFi) platform proper now. For context, PancakeSwap processed $40.2 billion throughout the identical week, and Uniswap dealt with $25.26 billion. Hyperliquid’s clearly stealing the present.
And when it comes to perpetual futures — y’know, these contracts that don’t expire and let merchants go wild with leverage — Hyperliquid has now facilitated over $1.53 trillion in trades. That’s miles forward of Jupiter, the following largest, sitting at $309 billion. It’s a little bit of a flex, actually.
Charges Are Booming, Too
Extra buying and selling means extra charges. Hyperliquid raked in $17 million in only one week, additionally per DeFi Llama. That’s the fourth week in a row of rising income. A big chunk of that will get funneled again to HYPE holders, by the way in which — almost 97% of it. So yeah, holding HYPE isn’t nearly worth motion.
This quantity and payment spike got here proper because the broader crypto market caught hearth. Bitcoin hit a brand new all-time excessive on Thursday, and when BTC flies, the altcoins normally don’t sit nonetheless.
Value Patterns Trace at Extra Upside
So what now? Properly, chart watchers are recognizing a traditional “cup and deal with” setup on the 8-hour chart — a sample identified for resulting in huge breakouts. The “cup” half dropped round 67%, and in the event you mirror that up, it places the following goal round $47. That’s about 35% above the place HYPE is now.
However wait — it doesn’t cease there. The every day chart is giving off main Solana-in-early-2021 vibes. Again then, SOL broke out of a sleepy sideways sample and exploded from $4.90 to just about $19 in below two months. If HYPE does something near that, we’re a possible goal of $51.68 from the Fibonacci extension — and a moonshot towards $128 if issues get wild (4.618 Fib degree, for the nerds).
What’s Driving All This?
A part of HYPE’s attraction is how Hyperliquid is constructed. Analyst Ansem famous it’s going after the identical imaginative and prescient Solana and FTX as soon as shared — solely it’s doing it absolutely on-chain. No centralized shortcuts.
And do not forget that half about 97% of buying and selling charges going again to token holders? That’s large. It provides actual utility, not simply vibes. Ultimately verify, HYPE is holding regular at $35.50, and yeah, it’s nonetheless up over 280% from that April low.
If momentum retains constructing — and the charts are suggesting it would — don’t be stunned if HYPE turns into one of many standout tales of 2025.