The cryptocurrency market is abuzz with activity as Hyperliquid's HYPE token has surged to a new all-time high, peaking just over $59. The token's trading volume has seen a significant increase, jumping 50% in the last 24 hours to more than $467 million. This surge has pushed its market capitalization up by over $1.2 billion.
Big Bets and High-Profile Backing
The rally is being fueled by major investors, including a whale trader with the username @tummyy1 who has a $30.3 million long position on HYPE with 3x leverage. The trader has an unrealized gain of $1.39 million and is reportedly continuing to add to the position. High-profile figures, such as BitMEX founder Arthur Hayes, have also been publicly supporting the token. Hayes has gone as far as to suggest that HYPE could increase more than 100-fold over time, driven by Hyperliquid’s expanding stablecoin ecosystem.
Technical Outlook
Technically, the token’s chart looks bullish, but some caution signs are present. The Relative Strength Index (RSI) is nearing the overbought zone, and the Bollinger Bands are stretched, indicating high volatility. A decisive break above the $60 level could push the price toward $65 and beyond. Conversely, a potential pullback could see the price drop back to $52 or even the mid-$40s.
Future Predictions
Some analysts are even more optimistic, predicting a potential 5x to 10x surge from current levels, which would place the token’s value well above $250. This bullish outlook is supported by Hyperliquid's recent developments, including the launch of its USDH stablecoin on HyperEVM. Regardless of whether these ambitious predictions come to fruition, the current market sentiment for HYPE is running high.
September 2025, Cryptoniteuae