What to know:
- HYPE tests a key six-month support, with traders watching the $63–$64 zone.
- Hyperliquid surpassed $1.2 billion in trading fees, reinforcing its ecosystem growth.
- Grayscale highlighted Hyperliquid’s buyback-and-burn model as a long-term value driver.
Hyperliquid (HYPE) is holding a crucial long-term support level as traders await confirmation of renewed bullish momentum. At the same time, Hyperliquid’s growing trading activity and buyback-and-burn mechanism continue to strengthen confidence in the protocol’s long-term value and ecosystem growth.
At the time of writing, HYPE is trading at $58.73 with a 24-hour trading volume of $344 million and a market capitalization of $14.84 billion. Despite the 2.31% loss over the last 24 hours, the HYPE price structure and Hyperliquid’s growing trading activity point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: HYPE Price Prediction Signals $57 Target Unless Bulls Reclaim $65
HYPE Price Tests Six-Month Ascending Support
According to the crypto analyst Havoc, HYPE is showing a strong six-month upward trendline after the price correction, putting the crypto into an important technical junction.
Even though the recent correction has made some traders wary of further developments, the overall market setup continues to be positive. According to analysts, the current correction alone does not mean a bearish reversal.
Source: Havoc’s X Post
Market observers will be keen on HYPE’s ability to regain its $63-$64 level, which would reverse the breakdown and turn sentiment back into bullish territory.
If this happens, it will confirm the presence of an upward trend in HYPE. On the other hand, a prolonged period of trading under this level will bring more pressure to sell.
Hyperliquid Tops $1.2 Billion in Trading Fees
The data from Grayscale further highlighted that since its launch in 2024, Hyperliquid has been able to surpass $1.2 billion in trading fees, making it one of the biggest milestones for the decentralized perpetual trading protocol.
The high trading volumes and rising user involvement have been some of the key drivers behind the growth and success of the protocol, which now ranks among the top DeFi derivatives protocols.
Source: Grayscale’s X Post
Low Beta of Grayscale The head of research made the following remarks on HLglobal about how the buyback and burn mechanism is one of the distinguishing aspects of the Hyperliquid protocol.
This system makes it possible to use a part of the income generated by the platform to burn the HYPE token, thereby linking growth, fees, and token burn to value accumulation.
Despite the bullish price predictions and strong network growth, the HYPE price is still moving in a downward direction. However, the general trend in the crypto market is improving, and a breakout in the HYPE price could occur if conditions remain favorable.
What Comes Next?
The future move for HYPE is expected to be contingent upon the ability of the buyers to take back the resistance level of $63-$64 and sustain their defense at the present long-term support level.
The increase in the trading volume of Hyperliquid and their buyback and burn system might strengthen the bullish momentum.
Also Read: Hyperliquid Price Prediction: Breakout Above $76 Could Trigger Next Rally
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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