Hyperliquid trades near $71.82, up 4.4% in 24 hours, as bulls attempt a third breakout above the $76.70 all-time high. The token has gained roughly 250% from its January low near $20.50.
Record Revenue and ETF Inflows
Record protocol revenue and fresh inflows from exchange-traded funds (ETFs) back the attempt. Hyperliquid crossed $1 billion in cumulative protocol revenue on June 30, according to DeFiLlama. The platform routes about 99% of trading fees into open-market HYPE purchases through its Assistance Fund, according to Tokenomist data.
Token Unlocks and Regulatory Scrutiny
Monthly token unlocks and growing regulatory scrutiny keep sellers well-supplied with arguments for a lower Hyperliquid price target. Core contributor vesting releases a new HYPE tranche on the sixth of every month through 2027. Regulatory pressure is building as well, with the Monetary Authority of Singapore adding Hyperliquid to its Investor Alert List in late June.
Technical Analysis
The daily chart shows buyers defending higher Fibonacci levels, with each correction being shallower than the last, suggesting strengthening demand. A 4-hour close above the triangle, followed by a daily close above $76.70, would start price discovery. The triangle’s height projects a measured move near $88, roughly 22% above the current price.
Based on reporting from crypto.news.
