In a major boost for altcoin investors, Hyperliquid’s native token HYPE has surged an impressive 76.01% over the past month, reaching $27.58. With this price level, the token is now just below its previous all-time high of $34.96. The explosive rally has put Hyperliquid under the spotlight as one of the strongest gainers in the crypto market this quarter.
Hyperliquid Staking Fuels Price Growth
A significant driver behind Hyperliquid’s upward momentum is its new staking feature. By allowing users to stake HYPE in exchange for trading fee discounts, the platform has seen over 11 million tokens locked up. This reduced supply in the market has created a stronger demand pressure, contributing to the token’s appreciation.
Moreover, the staking model has attracted both new and existing users, aligning long-term holders with the platform’s growth. This incentive structure has not only fueled price action but also increased overall platform engagement.
Trading Volume Hits Record Levels
The Hyperliquid exchange itself has reported record-breaking activity. On May 12 alone, the daily trading volume on perpetual futures contracts hit $6.7 billion. This volume surge reflects an influx of retail and institutional traders participating on the platform, adding liquidity and confidence to its ecosystem.
In tandem, the total open interest on Hyperliquid reached $906.76 million, indicating that a growing number of investors are holding positions and betting on future price gains. This metric is often seen as a strong indicator of bullish sentiment.
Hyperliquid Revenue Model Supports Buybacks
Another bullish factor in Hyperliquid’s performance is its revenue stream. The exchange is now generating over $2 million in daily fees, translating to an estimated annual income of over $700 million. A portion of this revenue is used to buy back and burn HYPE tokens, creating additional upward price pressure by reducing supply over time.
This well-balanced economic model is seen by analysts as one of the key reasons behind investor confidence in the Hyperliquid ecosystem.
Technical Indicators Show Strength
From a technical perspective, Hyperliquid’s HYPE token is maintaining momentum above key support levels. With strong buying volume and price support around $24.50, the next resistance lies at the $28.00 mark. If this level is broken, HYPE may test the $30.00 psychological resistance soon.
The Relative Strength Index (RSI) stands at 73, indicating that the token is currently overbought. While this may suggest a short-term correction, it also reflects strong buyer interest and market conviction.
Hyperliquid Outlook Remains Bullish
Market analysts remain optimistic about Hyperliquid’s long-term potential. Forecasts suggest the token could hit $45 by year-end, and even higher into 2026 and beyond, depending on continued adoption and platform upgrades.
With growing revenue, strong fundamentals, and a rapidly expanding user base, Hyperliquid is cementing its place among the top performers in the crypto space.
Also Read: Rizenet: Transforming Real-World Assets with Blockchain