TLDR
- Hyperliquid HYPE token hits new all-time high of $53.44 with VanEck CEO endorsing the platform
- USDH stablecoin launch attracts proposals from Paxos, Frax Finance, and Sky for management roles
- Token gains over 1,200% from 2024 lows driven by institutional interest and buyback mechanisms
- Technical analysis shows HYPE testing $50-$52 resistance with potential breakout to $60-$70 targets
- RSI reset and strong support above $42 level indicate continued bullish momentum ahead
Hyperliquid price has surged to a new all-time high of $53.44, marking a 1,200% gain from its 2024 lows. The HYPE token rally comes as VanEck CEO Jan van Eck publicly endorsed the decentralized perpetual exchange platform.
Van Eck confirmed on X that VanEck has owned HYPE tokens for several months. The CEO praised Hyperliquid’s technology and governance model while expressing interest in contributing to the ecosystem. This institutional backing signals growing adoption of decentralized finance platforms by traditional financial firms.
The endorsement arrives as Hyperliquid prepares its native stablecoin USDH launch. Six organizations have submitted governance proposals to manage the new asset. Paxos proposed using 95% of reserve interest for HYPE token buybacks, with reserves backed by U.S. Treasury bills and stablecoins.
Frax Finance plans to mint USDH against frxUSD, USDC, USDT, and dollar reserves. Sky co-founder Rune Christensen pitched a customizable token offering Treasury bill-comparable yields. These proposals could create sustained buying pressure for HYPE tokens.
Trading volume reached $570 million daily as the token climbed 8.5% in 24 hours. Lion Group Holdings disclosed plans to swap Solana and Sui holdings into HYPE, citing BitGo’s new custody services for HyperEVM assets.
Technical Indicators Support Higher Targets
Hyperliquid price action shows an ascending triangle pattern with resistance at $50-$52. Each retest has demonstrated stronger buyer participation, suggesting an imminent breakout attempt. The rising base indicates gradual accumulation near key levels.
On-chain data reveals declining absorption ratios while price continues climbing. This typically signals reduced sell pressure, allowing easier upward movement. Weekly charts show HYPE holding above crucial $42 support with RSI indicators resetting completely.
The weekly RSI reset often precedes major moves higher after clearing excess momentum. Combined with USDH buyback mechanisms, technical conditions align for continued upside potential.
Hyperliquid recorded $106 million lifetime revenue through August, up 23% from July’s $86.6 million. The platform strengthens its position as a leading decentralized perpetual exchange while institutional interest grows.
Hyperliquid Price Prediction
Analysts target $60-$70 levels if HYPE breaks above $52 resistance cleanly. The combination of institutional endorsements, stablecoin launch catalysts, and strong technical setup supports this bullish outlook.
Key support remains at $46-$47, maintaining the ascending triangle structure. As long as this level holds, the bullish case for new all-time highs stays intact.
USDH revenue buybacks create a fundamental demand driver that markets must price in. With VanEck’s backing and growing institutional proposals, Hyperliquid price prediction points toward sustained upward momentum in the coming weeks.
