Hyperliquid Extends Recovery After Record Highs
Hyperliquid (HYPE) is regaining strength this week, trading above $55 after pulling back from last week’s peak of $57.40. The token’s recovery comes amid surging network adoption, improved revenues, and bullish sentiment around stablecoin integration.
Analysts highlight that HYPE’s ability to rebound quickly reflects strong investor demand. The midweek performance suggests momentum could carry forward into another test of record highs. Traders are closely monitoring the $57.40 resistance level for signs of a breakout.
USDC Stablecoin Launches on Hyperliquid
On Tuesday, Circle announced that USDC and Cross-Chain Transfer Protocol (CCTP) V2 are now live on Hyperliquid’s EVM. This integration enables seamless deposits into HyperCore and greater flexibility for DeFi applications across the ecosystem.
Native USDC deployment is seen as a liquidity catalyst that could attract institutional users. The addition strengthens Hyperliquid’s position against Ethereum and Solana by offering efficient, stable-dollar settlement. Analysts believe this milestone provides a bullish long-term outlook for HYPE price growth.
Network Fees Outpace Ethereum and Solana
According to Artemis Terminal, Hyperliquid’s 24-hour fee collection surpassed $2.5 million, topping Ethereum and Solana.
This surge highlights growing network usage, increased trading activity, and expanding DeFi participation. Fee revenue is a critical metric for gauging blockchain adoption and sustainability. The ability to outpace established layer-1 competitors signals Hyperliquid’s growing relevance. Investors see this as confirmation that HYPE’s ecosystem is strengthening its foothold in the crypto market.
Recommended Article: Circle Expands USDC Integration with Hyperliquid to Drive Stablecoin Liquidity, Growth, and Global Adoption
Q3 Financials Mark Record-Breaking Growth
Hyperliquid’s Q3 report revealed fees of $250.45 million and Token Holder Net Income of $243.59 million. These figures represent the strongest financial performance since the network’s inception. What is striking is that this growth was achieved with a team of just 11 people.
Reflexivity Research highlighted the lean yet highly productive nature of the project. Such robust fundamentals reinforce investor confidence in the long-term value of HYPE tokens.
Technical Indicators Support Bullish Momentum
The Relative Strength Index (RSI) stands at 64, suggesting bullish momentum without signaling overbought conditions. A bullish MACD crossover in early September remains intact, further validating the upward trend.
Technical charts show key support at $51.15, aligning with the prior all-time high. Resistance remains at $57.40, the threshold for price discovery. If momentum continues, HYPE could soon push toward its next psychological target of $60.
Potential Correction Risks Remain
Despite strong fundamentals, traders should be cautious of short-term corrections in volatile conditions. A failure to reclaim $57.40 could trigger profit-taking, sending HYPE back to $54 or even $51.15.
Increased competition from Ethereum and Solana could also affect investor flows. Market-wide risks such as regulatory updates or macroeconomic shifts may add pressure. However, any correction is expected to be short-lived if fundamentals remain intact.
Outlook: Can HYPE Break Through $60?
Analysts believe Hyperliquid has the momentum and fundamentals to test new all-time highs in the near term. The integration of USDC strengthens its utility, while record-breaking fees showcase adoption at scale. Technical indicators continue to support a bullish structure, with accumulation driving momentum. If resistance levels break, the path toward $60 becomes increasingly likely. In the longer term, continued network growth could cement HYPE as a dominant blockchain player.
