Hyperliquid (HYPE) Price Surges 20% as Platform Growth Fuels Strong Market Momentum

Hyperliquid (HYPE) has recorded a powerful price rally, emerging as one of the top-performing cryptocurrencies in the market. Over the past 24 hours, HYPE jumped nearly 20%, while its weekly gains exceeded 60%, significantly outperforming major assets such as Bitcoin and Ethereum. This surge comes as the broader crypto market also shows signs of recovery, with total market capitalization rising by more than 2%.

At the time of writing, HYPE is trading around $34.57, marking a weekly increase of over 50%. This price improvement is largely attributed to the rapid expansion of the Hyperliquid platform and a surge in user activity, as more traders join its growing ecosystem. Increased adoption has strengthened demand for the HYPE token, reinforcing bullish market sentiment.

One of the key drivers behind the recent price surge is Hyperliquid’s strategic expansion beyond crypto perpetual contracts. Through its HIP-3 upgrade, the platform introduced tokenized trading for commodities, stocks, equity indices, and fiat currencies. This diversification has significantly boosted trading activity, drawing interest from both retail and institutional participants. In just three months, Hyperliquid reported more than $1 billion in open interest, over $25 billion in total trading volume, and approximately $3 million in generated fees.

Another major factor supporting HYPE’s price growth is its aggressive token-burning mechanism. Up to 97% of protocol fees are used to buy back and burn HYPE tokens, effectively reducing circulating supply. As trading volume increases, the burn rate accelerates, creating scarcity and upward price pressure. The growing popularity of commodity trading, particularly silver, has played a crucial role in fee generation, further strengthening demand for HYPE.

From a technical perspective, HYPE maintains strong bullish momentum. The Relative Strength Index (RSI) currently stands near 82, signaling overbought conditions and suggesting the possibility of short-term consolidation. However, the MACD indicator remains bullish, indicating that upward momentum is still intact. Key support is seen around $30, while resistance is forming near $35. If buying pressure continues, analysts believe HYPE could target $40 and potentially $50 in the longer term.

With continued platform development, rising trading volumes, and strong tokenomics, Hyperliquid remains well-positioned for further growth as market conditions improve.