Hyperliquid (HYPE) rose over 5% in the last 24 hours, trading at $68.37 with a market cap of $17.3 billion. Analysts identify a key resistance at $68.88; a breakout could push the token toward the $100 mark. Technical analysis shows buyers defending support despite a dip below moving averages, suggesting consolidation rather than a trend reversal. The platform generated $2.4 million in daily protocol fees, surpassing revenue from Solana, Ethereum, BNB Chain, and Robinhood, reflecting rising trader activity and adoption.
Hyperliquid (HYPE) gained 5.27% over the past 24 hours, trading at $68.37 with a 24-hour volume of $431.18 million and a market capitalization of $17.3 billion. According to crypto analyst Michael van de Poppe, HYPE maintains a bullish market structure despite a recent dip below its 21-day and 50-day moving averages.
Analysts view the pullback as short-term consolidation, with buyers continuing to defend key support levels. A convincing breakout above the $68.88 resistance could re-initiate a bull run, with technical analysis pointing toward the $100 mark.
Data from Hyperliquid Daily shows the platform accumulated $2.4 million in protocol fees over the last 24 hours. This figure exceeded the daily fee revenue generated by Solana, Ethereum, BNB Chain, Robinhood, and Lighter, underscoring Hyperliquid’s growing presence in decentralized trading.
The strong fee growth is attributed to high trading volumes and increased participation in the platform’s decentralized perpetual trading environment. HYPE’s upward movement is also supported by an improving broader crypto market trend as Bitcoin begins to rise.
HYPE now faces a critical resistance level that will determine its near-term direction. If buyers push through, the bull run may strengthen; if not, further consolidation could follow. Market sentiment remains a key factor.
