Hyperliquid (HYPE) Up 11%: What’s The Way Forward?

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Hyperliquid Went Up 11% Last 24 Hours
HYPE Bulls Eye $90

Built on its own high-performance layer 1 blockchain, Hyperliquid is a next-gen decentralised exchange (DEX). It is purpose-built for speed, scalability and frictionless trading.

For the degens, it is a wildcard with a steady performance and perhaps the only real player in the true decentralised perpetual futures.

At its core is the HyperBFT, a consensus mechanism that delivers rapid finality and crazy good security, making it a standout in an increasingly crowded DeFi (Decentralised Finance) infrastructure space.

HYPE, its native crypto, has a circulating supply of 334 million, a market cap of more than $15 billion and powers the entire ecosystem. Moreover, it benefits directly from platform activity.

Hyperliquid’s bullish structure remains intact just below its $49.86 all-time high. With strong support at $42.24 and rising volume, the coin looks set for a decisive breakout into fresh price discovery. pic.twitter.com/lhp14j7fTC

— BlockBriefs (@_BlockBriefs_) August 17, 2025

Hyperliquid leans heavily into performance, making it a compelling alternative to centralised derivatives platforms.

What’s more, it doesn’t have to sacrifice its decentralisation to achieve this feat either.

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Hyperliquid Went Up 11% Last 24 Hours

Hyperliquid (HYPE) is currently trading around $47.08 with a market cap of roughly $15.76 billion and a fully diluted valuation of about $47.20 billion. Its circulating supply is currently sitting at 333.77 million, out of a max supply of 1 billion.

It is gaining crazy ground. Just this week, HYPE has surged by 25%, with an 11% gain in the last 24 hours alone, pushing it to price discovery territory, trying to re-test its all-time high of $49.86, which it achieved on 13 July 2025.

(HYPEUSD)

The token recently reported a $6 billion AUM surge, a milestone for the platform.

After blowing past trading volume records, the platform raked in $7.7 million in daily fees. This is a huge milestone under HYPE’s kitty, especially since much of it cycles back directly into HYPE token buybacks.

But this is only the beginning. Over the last year, Hyperliquid has processed more than $1.57 trillion in total volume, with Q2 revenue topping $300 million. Furthermore, just last month, it saw $319 million in trading volume, which is a 47% jump, month-over-month.

This allowed the platform to capture 35% of all blockchain revenue, overshadowing a third of the entire crypto market’s earnings.

Importantly, HYPE’s daily buybacks average $4 to $5 million and act as a stabiliser that cushions price action against market volatility, making HYPE one of the few coins that can comfortably handle the market’s sentimental swings.

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HYPE Bulls Eye $90

HYPE’s short team outlook is drumming up debates across crypto Twitter. Analyst Crypto Target predicted a classic ascending triangle forming, and suggests that a decisive break above $48 could unlock a rally to $90.

On the other end, analyst Don pointed out a rising wedge, a pattern that is often associated with bearish reversals. He warned that a drop below $45 support could derail the bullish momentum, potentially dragging the price back into the low $40’s.

rising wedge pattern is a bearish pattern, $HYPE needs to hold the red support line and trade above it, breaking out from the orange resistance line will invalidate the bearish pattern and the green line will be the target of $84 pic.twitter.com/FBB9zfLj0z

— Don (@TheDonOfApes) August 17, 2025

HYPE has surged by more than 1,376% from its November low of $3.20. However, it remains below its July 2025 all-time high of $49.86.

Learn more about HYLQ here

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Key Takeaways

Hyperliquid gained 11% over the last 24 hours, 25% over the last week
HYLQ witnessed $319 million in trading volume, a 47% jump, month-over-month
A breakthrough above $48 could unlock a rally till $90, a slde from $48 could see price fall to the low $40’s