Usman Salis
HYPE has been quietly building momentum while other crypto projects struggle to find their footing. Sure, it's down about 7% from its peak, but that's nothing compared to what's coming next. With a market cap sitting pretty at $18 billion, this isn't just another altcoin making empty promises.
The numbers tell a different story than the recent dip suggests. HYPE jumped from $9.33 in April to $57 this month – that's over 500% gains while most of the market was still figuring out what direction to go. And here's the thing: this pullback looks more like a breather before the real fireworks begin.
HYPE Gets a Major Boost from USDH Launch
The big news everyone's talking about? USDH stablecoin is dropping in the next few days. Hyperliquid teamed up with Native Markets to create what could be USDC and USDT's biggest headache yet. Starting with an $800 transaction cap, it's a smart move that won't flood the market too fast.
But wait, there's more. Circle – yeah, the USDC people – just announced they're expanding onto Hyperliquid. They're launching native USDC and CCTP V2 on HyperEVM, and here's the kicker: they actually bought HYPE tokens themselves. When the company behind a $150 billion stablecoin decides to invest in your ecosystem, you know something's up.
HYPE Dominance in Perpetual Futures Is Just Getting Started
Let's talk numbers because they're pretty wild. Hyperliquid processed $336 billion in perpetual futures over the last 30 days. That's not a typo – billion with a B. BasedApp alone handled $10 billion, making it clear this isn't just hype around HYPE.
The total value locked jumped from $400 million in January to $7.72 billion now. Meanwhile, stablecoin holdings hit a record $6.2 billion, putting Hyperliquid on the map as a serious DeFi player. When you see numbers moving this fast, you start to understand why some analysts think $100 isn't just possible – it's inevitable.
Technical Setup Points to $100 HYPE Target
Here's where things get interesting from a chart perspective. HYPE broke above $50.27, which was the top of an ascending triangle – trader speak for "this thing wants to keep going up." The recent pullback? Classic break-and-retest action that usually means the bulls aren't done yet.
The path from $9.33 to $57 shows this token knows how to move when conditions are right. Now it's sitting above that crucial $50.27 support level, essentially loading up for the next leg higher. If it breaks below that level, the party might be over. But if it holds? That $100 target starts looking very realistic.
Usman Salis
