Hyperliquid ($HYPE) Soars 24% to All-Time High Amid Growing Interest for DeFi Derivatives

Hyperliquid ($HYPE) recently rallied to a new all-time high of $46.22 after rising more than 10% in the past 24 hours, although it has slipped back to trade at about $45.59 at press time. Over the last week, bullish momentum lifted the token from a $37.18 trough to its recent peak of $46.22, an impressive 24% rally reflecting growing demand for DeFi derivatives on Hyperliquid’s HyperBFT network. Despite recent profit-taking, volatility remains elevated as traders eye a fresh breakout or a deeper pullback. Source: CoinGecko Hyperliquid runs its own Layer-1, bypassing gas-fee congestion while offering central-exchange speed and on-chain order books. There are 333.92 million $HYPE tokens in circulation with a market cap of about $15.2 billion, fueling deep liquidity and institutional interest. The on-chain platform currently has $463.28 million locked in bridged TVL , underscoring its scale as a decentralized perpetual exchange. In early June, Tony G Co-Investment Holdings deployed $438K into $HYPE , becoming the first public company to add it to its treasury, signaling institutional confidence. Validator staking rules now require 10,000 $HYPE self-delegation, ensuring robust network security and aligned incentives. Hype around an #Altseason has been brewing since late May, when former BitMEX CEO Arthur Hayes made a bold price prediction for Hyperliquid’s $HYPE token. Hayes backed legendary trader James Wynn’s massive bet on the platform, amplifying the momentum. Legendary! Top trader @JamesWynnReal ‘s 40x leveraged long $BTC position has exceeded 10,000 $BTC , worth $1.1B! Entry price: $108,084.3 Liquidation price: $103,640 Unrealized profit: $17.5M https://t.co/3YQUwD0T0V pic.twitter.com/dqruCTuxzp — Lookonchain (@lookonchain) May 21, 2025 Notably, Hayes is already a major $HYPE investor, having recently acquired millions of tokens, underscoring his conviction in Hyperliquid’s long-term potential and the likelihood of an impending altseason. Bitcoin’s recent climb to become the world’s fifth-largest asset again, surpassing $2.36 trillion in market value as of July, boosts investor appetite for leverage platforms and altcoins. The rising tide has already lifted $HYPE’s 24-hour trading volume by 3.79%, setting the stage for the next breakout. $HYPE/$USDT Soars Above $45 After Parabolic Rally — Price Faces Decision Zone The 4-hour chart for $HYPE/$USDT shows a striking parabolic advance that began after a mid-range consolidation near the $37–$39 zone. $HYPE oscillated in a broad sideways channel for nearly two weeks, coiling beneath key resistance as buyers gradually absorbed supply. This slow accumulation phase created the conditions for the explosive breakout that followed. HYPE/USDT price chart, July 11 (Source: TradingView) The pivot began on July 9, where $HYPE broke above minor resistance at $39.7 with a strong bullish candle. This move was supported by increasing volume, indicating that large players were stepping in. Once $41.50 was cleared, a vertical climb ensued. $HYPE posted a series of large-bodied green candles, each one closing near the high, a clear sign of aggressive buyer control with little resistance overhead. By July 11, the price had jumped to an all-time high of $46.09, representing a nearly 20% move in less than 48 hours. One thing to note is that no significant pullbacks were observed during the rally, reinforcing the urgency behind the buying. Ideally, parabolic run-ups are bullish, but they are often followed by a cooling-off period during which the new supports can be tested. Immediate resistance lies near $46.50–$47.00, with RSI likely entering overbought territory. $HYPE traders will now be watching closely for a potential flag or consolidation range to form, which is a healthy pause that could offer continuation if demand persists. A break above $47 could open the gates toward $50 and beyond, but failure to hold above $44.80 might trigger profit-taking. Short-term support is expected near $42.50 and then $40. The post Hyperliquid ($HYPE) Soars 24% to All-Time High Amid Growing Interest for DeFi Derivatives appeared first on Cryptonews .

Source: cryptonews