- HYPE token benefits from strong returns and increased protocol revenue.
- HIP-3 growth has increased Hyperliquid’s open interest to approximately $1.43 billion.
- If support around $43.5 is maintained, Hyperliquid price is expected to range between $45 and $50.
Hyperliquid (HYPE) is currently trading at $42.78, up about 1.6% over the last 24 hours, and has shown resilience within a narrow intraday range between $42.06 and $43.06.
Over the past week, HYPE’s price action has expanded slightly, with HYPE fluctuating between $40.75 and $44.65, with gradual gains rather than sharp volatility.
The uptick is driven by ecosystem growth, institutional participation, and a steady increase in derivatives activity across platforms.
Performance-driven momentum and ecosystem expansion
The HYPE price increase is closely tied to a strong performance update from Hyperliquid Strategies Inc., one of the token’s largest holders.
The company reported first-quarter net income of approximately $152.5 million, driven primarily by gains associated with its HYPE holdings.
However, Hyperliquid Strategies posted a net loss of $165 million over the past nine months, primarily due to unrealized valuation changes and tax adjustments.
This contrast highlights how closely financial performance is tied to HYPE price action.
Despite the volatility of its earnings, the company has consistently maintained its HYPE accumulation strategy.
The company continues to hold approximately 20 million HYPE tokens and has invested more than $220 million in building its presence.
Hyperliquid Strategies also maintains a debt-free structure with cash reserves of over $100 million, strengthening long-term confidence rather than short-term trading behavior.
Activity is also expanding at the Hyperliquid protocol level.
The HIP-3 upgrade increased open interest to approximately $1.43 billion, and total derivatives open interest across the platform is now estimated at approximately $1.75 billion.
A significant portion of this activity comes from tokenized real-world assets such as oil, gold, and stocks, showing that usage is not limited to cryptocurrency trading pairs.
Buyback, burn mechanism and institutional flow
One of the strongest structural drivers supporting HYPE’s bullish stance is the evolving token economy.
With recent updates, over 45 million HYPE tokens have been removed through buybacks and burns, strengthening supply dynamics at a steady pace.
The upcoming HIP-4 upgrade is expected to further strengthen this structure by driving transaction fees towards additional redemption and burn activities.
On the revenue side, the platform has continued to generate traction.
Weekly protocol revenue was reported at approximately $11.58 million, with a total fixed value of approximately $5.42 billion, reflecting ongoing capital participation.
HYPE Technical Analysis
From a technical perspective, HYPE is attempting to stabilize above a major breakout area around $43.50 to $43.60.
Holding this area appears to be important for continuation and resistance remains near $45.70-$45.80.
Momentum indicators remain supportive, with the Relative Strength Index (RSI) hovering around 57.61, suggesting a strong but not overheated situation.
At the same time, the MACD trend remains positive, consistent with the broader upward bias seen over the past several sessions.
Hyperliquid (HYPE) Price Prediction
The near-term outlook for HYPE is cautiously optimistic due to a combination of its revenue-driven story, increased derivatives activity, and ongoing token supply reduction mechanisms.
If HYPE holds above the $43.50 support, the momentum may expand towards the next resistance level at $45.70.
A clear move above this level could pave the way for the widely watched $50 price range, which is in line with both technical outlook and recent analyst expectations regarding expanding open interest and protocol revenue growth.
On the downside, failure to maintain support could lead to a retreat to the previously accumulated $40-$42 range.