Hyperliquid (HYPE) Pumps 17% to New All-Time High Near $36

HYPE, the Hyperliquid native token, powers its decentralized exchange with high-leverage trading.

Hyperliquid's native token, HYPE, powers a decentralized exchange with high-leverage trading. It currently trades at a market cap of $11 billion, having overtaken NEAR and LINK to claim a top-15 spot.

The recent 65% surge in the past 30 days has fueled hype, with predictions of HYPE reaching $50 by the end of the month.

Its platform processes massive trading volumes, with $450 billion in its first year, while the fee-burning mechanism burned 65,000 HYPE, or nearly a million dollars, during that time, at a price of just eight days, forcing more buy pressure.

Next, a record-breaking airdrop in November 2024, valued at $45,000-$50,000 for 94,000 users, also boosted demand for the token. HYPE's governance, staking rewards, and zero gas fees are among the factors that have contributed to the hype surrounding the token.

As these catalysts continue to build, the $50 target might not be too far-fetched. Hyperliquid is now trading at above $35, having clocked 17% in a single day, demonstrating its strength.

People are now noting that the token is trading above the 50-period moving average, which stands at around $30.5, and it has managed to break through the resistance at $35.

If the volume continues to grow and the sentiment remains positive, then we might see HYPE hit $50 by late May, although it's a close call.

If it does manage to reach that level, then it would likely overtake Chain at the top 10, cementing its status among the top tier.

Technically, Hyperliquid stands out with its high-throughput, on-chain order books and native multi-sig support. Its testnet integration of native BTC provides versatility.

The recent CFTC comments praising Hyperliquid's compliance in crypto derivatives trading have also boosted confidence and brought regulatory alignment closer.

This recognition, together with an annualized revenue of $595 million, makes HYPE one of the best cryptos to hold.

The post Why Hyperliquid’s $HYPE Could Soar To $50 In May As CFTC Comment Pushed It Up 17% Todayhighlighting outstanding legal and technical capabilities.