The post The Feature Driving HYPE’s Double-Digit Surge appeared on BitcoinEthereumNews.com. Home » Crypto Bits HYPE reclaims key level after 23% rally, tradingThe post The Feature Driving HYPE’s Double-Digit Surge appeared on BitcoinEthereumNews.com. Home » Crypto Bits HYPE reclaims key level after 23% rally, trading

The Feature Driving HYPE’s Double-Digit Surge

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HYPE reclaims key level after 23% rally, trading at $28 as HIP-3 open interest hits $790M and whales remove supply from exchanges.

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Summarize with AI


Summarize with AI

Hyperliquid’s token HYPE has surged 23% over the past 24 hours, pushing the price action into a zone that could decide the next trend. The move follows growing interest in HIP-3 activity and a sharp rise in trading volume and open interest.

Price Reclaims, Interest Builds

After weeks of choppy price action, HYPE swept below its October 10th lows, a level that had previously acted as support. The asset has since reclaimed that zone and is now trading above it, hovering around $28 at press time. The area between $25 and $26 is being watched as a key reclaim zone.

According to Crypto Bully, this area sets up an “over and under” pattern. The price moved below the level, then quickly recovered it. Holding above this zone could confirm a reversal setup. If it fails to hold, the broader downtrend may resume.

Meanwhile, recent growth in HYPE’s ecosystem is tied to HIP-3, a feature launched in October 2025. It allows developers to deploy their own perpetual futures markets using Hyperliquid’s core infrastructure.

Open interest tied to HIP-3 reached $790 million, according to data shared by Hyperliquid. That figure stood at $260 million just one month ago. The rise has tracked with broader interest in commodity-linked markets, which are now tradable on the platform. Market cap for HYPE stands at $6.6 billion, with a circulating supply of 240 million tokens.

Indicators Support Upward Momentum

Technical signals point to a possible trend shift. RSI on the daily chart is at 59. This shows increasing strength but remains below overbought levels.

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MACD has flipped positive, with the MACD line crossing above the signal line. The histogram has turned green. These signals are often watched for early signs of directional change. The move also aligns with a break above recent consolidation.

HYPE Price Chart 1.27. Source: TradingView

In addition, on-chain activity shows a recent $10.32 million OTC transfer involving 465,000 HYPE. The transaction, which moved tokens from Galaxy Digital, took place while buyers defended the $22–$23 zone.

Exchange data from Coinglass shows a 166% increase in volume and a 29% jump in open interest, with total volume at $2.43 billion. Whales continue to remove supply from public markets, reducing immediate selling pressure.

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Source: https://cryptopotato.com/hip-3-explosion-the-feature-driving-hypes-double-digit-surge/

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