Hyperliquid ($HYPE) Soars 24% to All-Time High Amid Growing Interest for DeFi Derivatives

Hyperliquid ($HYPE) recently rallied to a new all-time high of $46.22 after rising more than 10% in the past 24 hours, although it has slipped back to trade at about $45.59 at press time.

Over the last week, bullish momentum lifted the token from a $37.18 trough to its recent peak of $46.22, an impressive 24% rally reflecting growing demand for DeFi derivatives on Hyperliquid’s HyperBFT network.

Despite recent profit-taking, volatility remains elevated as traders eye a fresh breakout or a deeper pullback.

Hyperliquid runs its own Layer-1, bypassing gas-fee congestion while offering central-exchange speed and on-chain order books. There are 333.92 million $HYPE tokens in circulation with a market cap of about $15.2 billion, fueling deep liquidity and institutional interest.

The on-chain platform currently has $463.28 million locked in bridged TVL, underscoring its scale as a decentralized perpetual exchange.

In early June, Tony G Co-Investment Holdings deployed $438K into $HYPE, becoming the first public company to add it to its treasury, signaling institutional confidence.

Validator staking rules now require 10,000 $HYPE self-delegation, ensuring robust network security and aligned incentives.

Hype around an #Altseason has been brewing since late May, when former BitMEX CEO Arthur Hayes made a bold price prediction for Hyperliquid’s $HYPE token. Hayes backed legendary trader James Wynn’s massive bet on the platform, amplifying the momentum.

Legendary!

Top trader @JamesWynnReal's 40x leveraged long $BTC position has exceeded 10,000 $BTC, worth $1.1B!

Entry price: $108,084.3
Liquidation price: $103,640
Unrealized profit: $17.5Mhttps://t.co/3YQUwD0T0V pic.twitter.com/dqruCTuxzp

— Lookonchain (@lookonchain) May 21, 2025

Notably, Hayes is already a major $HYPE investor, having recently acquired millions of tokens, underscoring his conviction in Hyperliquid’s long-term potential and the likelihood of an impending altseason.

Bitcoin’s recent climb to become the world’s fifth-largest asset again, surpassing $2.36 trillion in market value as of July, boosts investor appetite for leverage platforms and altcoins.

The rising tide has already lifted $HYPE’s 24-hour trading volume by 3.79%, setting the stage for the next breakout.

$HYPE/$USDT Soars Above $45 After Parabolic Rally — Price Faces Decision Zone

The 4-hour chart for $HYPE/$USDT shows a striking parabolic advance that began after a mid-range consolidation near the $37–$39 zone.

$HYPE oscillated in a broad sideways channel for nearly two weeks, coiling beneath key resistance as buyers gradually absorbed supply. This slow accumulation phase created the conditions for the explosive breakout that followed.

The pivot began on July 9, where $HYPE broke above minor resistance at $39.7 with a strong bullish candle. This move was supported by increasing volume, indicating that large players were stepping in. Once $41.50 was cleared, a vertical climb ensued.

$HYPE posted a series of large-bodied green candles, each one closing near the high, a clear sign of aggressive buyer control with little resistance overhead.

By July 11, the price had jumped to an all-time high of $46.09, representing a nearly 20% move in less than 48 hours. One thing to note is that no significant pullbacks were observed during the rally, reinforcing the urgency behind the buying.

Ideally, parabolic run-ups are bullish, but they are often followed by a cooling-off period during which the new supports can be tested.

Immediate resistance lies near $46.50–$47.00, with RSI likely entering overbought territory. $HYPE traders will now be watching closely for a potential flag or consolidation range to form, which is a healthy pause that could offer continuation if demand persists.

A break above $47 could open the gates toward $50 and beyond, but failure to hold above $44.80 might trigger profit-taking. Short-term support is expected near $42.50 and then $40.