Key Highlights

  • HYPE increased more than 5% within 24 hours, reaching approximately $38.28 with trading activity climbing 50% to $288 million
  • BitMEX co-founder Arthur Hayes declares HYPE as “the only thing we’re buying right now”
  • Hayes maintains a $150 valuation forecast for HYPE by August 2026
  • The market successfully absorbed a 9.9 million token unlock on April 6 with minimal downward pressure
  • Critical resistance level positioned at $38, with potential upward momentum toward $41.27 upon breakthrough

Hyperliquid’s native HYPE token experienced gains exceeding 5% over the previous 24-hour period, positioning itself around the $38.28 mark. This upward movement coincided with a wider cryptocurrency market resurgence, where Bitcoin advanced more than 4% throughout the identical timeframe.

Hyperliquid (HYPE) Price
Hyperliquid (HYPE) Price

HYPE’s trading volume experienced a 50% surge, approaching $288 million. This substantial increase in market activity indicates fresh capital entering positions rather than existing stakeholders redistributing their holdings.

Arthur Hayes, who co-founded BitMEX and serves as Chief Investment Officer at family office Maelstrom, shared on X platform on April 8 that HYPE represents “the only thing we’re buying right now.” Hayes continues to support a $150 price forecast for HYPE by August 2026, representing approximately a 4x appreciation from present valuation levels.

Hayes emphasizes Hyperliquid’s revenue-generating capabilities as his primary rationale for conviction. The decentralized exchange platform allocates 97% of generated revenue toward repurchasing HYPE tokens from secondary markets.

Scheduled Token Release Smoothly Integrated

April 6 witnessed the distribution of approximately 9.9 million HYPE tokens to core contributors through a scheduled unlock mechanism. Such releases frequently generate selling momentum. Throughout this occurrence, price stability persisted, indicating market participants had already factored the incoming supply into valuations.

Open interest across the Hyperliquid platform remains positioned above $2.3 billion. The ecosystem has broadened its offerings to encompass tokenized real-world assets, featuring oil futures that generate billions in daily trading activity.

Hayes Liquidates Alternative Holdings

During his HYPE accumulation phase, Hayes has been divesting positions elsewhere. Blockchain analytics from Lookonchain and Arkham Intelligence reveal he liquidated his ETHFI holdings at a 13% deficit, having acquired 265,461 tokens at $0.51 before selling at $0.44.

He subsequently transferred 3.55 million AUKI tokens valued near $19,600 to FlowDesk, signaling a liquidation event. AUKI recorded a 5% increase during the past 24 hours, accompanied by 91% elevated trading volume.

From a technical analysis perspective, HYPE encounters resistance around the $38 threshold. A decisive breakthrough above this barrier could establish pathways toward $41.27. Support infrastructure exists at $36.38, where a breakdown could drive prices toward the $30 zone.

The comprehensive market rally received reinforcement from enhanced regulatory outlook within the United States, encompassing deliberations surrounding a “Reg Crypto” framework alongside Morgan Stanley’s introduction of spot Bitcoin ETF offerings.

Hyperliquid maintains open interest exceeding $2.3 billion, while protocol-driven buyback mechanisms connected to the HIP-4 fee structure remain operational.