Hyperliquid (HYPE) Rides High on HyperEVM Integration, Eyeing All-Time Records The decentralized finance (DeFi) sector is abuzz as Hyperliquid (HYPE) token experiences a significant rally, driven largely by Bitget Wallet’s strategic integration with HyperEVM. This Ethereum-compatible smart contract layer, which powers the Hyperliquid Layer-1 blockchain, is broadening access to HYPE's ecosystem, putting the token on the cusp of new all-time highs.
Market Momentum and Technical Indicators
Following a remarkable 110% rebound since mid-October, the HYPE token is currently trading between $48 and $49, nearing its previous all-time high of $59. This bullish surge is underpinned by substantial on-chain volume and over $90 million in staking rewards distributed this month. Technical analysis reveals a classic bull flag formation, with experts forecasting a potential breakout to the $52-$55 range if momentum sustains above $48. The Money Flow Index (MFI) at 63 further indicates strong capital inflows and robust investor confidence, though a failure to breach immediate resistance could lead to a short-term pullback towards $44.
Fundamental Strength and Ecosystem Growth
Beyond price action, Hyperliquid's fundamentals are robust. The project has generated over $111 million in fees in the past 30 days, positioning it as the third-highest revenue-generating DeFi protocol. A new $644 million Assistance Fund Buyback program is actively reducing the circulating supply, now at 336 million HYPE, providing crucial tokenomic support for long-term holders. Additionally, the HIP-3 upgrade is set to introduce new perpetual markets powered by staked HYPE, attracting institutional builders and expanding into tokenized futures products. With a cumulative trading volume exceeding $1.5 trillion and a dominant position in decentralized derivatives, Hyperliquid's ecosystem continues its aggressive expansion, even amidst growing competition from platforms like Binance-backed Aevo. Should the current bullish sentiment persist and HyperEVM adoption accelerate, analysts suggest HYPE could retest the $55 mark and potentially push beyond $60 in the coming weeks. This trajectory would cement Hyperliquid's reputation as one of DeFi's most profitable and innovative ecosystems.
