HYPE token surges past $42, drawing renewed attention to Hyperliquid's performance

Hyperliquid's native token HYPE has surged past $42 for the fourth time in 2025, drawing renewed attention to its performance as one of the top DeFi assets

Hyperliquid's native token, HYPE, has surged past the $42 mark for the fourth time in 2025.

This price action comes on the back of growing institutional activity, whale accumulation, and rising protocol usage that has seen Hyperliquid's total value locked (TVL) reach $1.73 billion.

On-chain data shows that two separate wallets recently topped up with $19.43 million in USDC to open 5x long positions on HYPE futures.

In another major move, one whale used $11.8 million in SOL as collateral to borrow $4 million in USDC and proceeded to buy and stake 126,353 HYPE tokens at a price of $39.10.

A third wallet purchased 259,367 HYPE using $9.97 million in USDC.

The large transactions and derivatives activity add to the growing narrative of institutional participation in crypto.

According to Coinglass, the open interest on HYPE futures has hit an all-time high of $1.89 billion.

This aligns with a sharp increase in platform fees and user activity.

According to Artemis data, Hyperliquid's daily fees outperformed even Ethereum and Solana on certain days.

With an annual revenue of $851 million and 97% of that earmarked for token buybacks, the HYPE token's price floor has gained further strength.

The FDV now stands at $42.05 billion, making HYPE one of the most valuable DeFi assets by market cap.

These metrics are a testament to the deepening user base and growing institutional trust in the Hyperliquid ecosystem.

Despite the parabolic move that places the token's momentum in overbought territory, the RSI remains relatively high at 73.76.

This suggests that while bullish pressure is dominant, short-term corrections may occur.

The MACD shows a bullish crossover above the zero line, although the histogram has begun to flatten, indicating that momentum may be levelling off.

Another key metric, the BBTrend momentum indicator, remains elevated.

While this reflects sustained bullish interest, such prolonged readings often precede price volatility or sharp pullbacks, particularly when parabolic price curves begin to test structural support.

Currently, the price is encountering resistance near $44.50. A breakout above this level could set off a new rally targeting $50.

However, if the price fails to hold $38, it could retrace to $34 or even as low as $26.89, which remains a critical support level.

Overall, the growing institutional activity, whale accumulation, and rising protocol usage are all contributing to the strong performance of HYPE token in 2025.

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