HYPE Nears All-Time High Amid HyperEVM Integration and Buybacks
Bitget Wallet has integrated with HyperEVM, an Ethereum-compatible smart contract layer for the Hyperliquid Layer-1 blockchain. This integration expands Bitget's user base to over 80 million, providing access to Hyperliquid’s onchain liquidity, programmable finance features, and cross-chain transfers.
- The update positions Bitget Wallet as a gateway for $HYPE token utilities, staking, and governance.
- Hyperliquid’s Total Value Locked (TVL) exceeds $5 billion, attracting institutional capital and DeFi builders.
Hyperliquid (HYPE) Price Action
- Hyperliquid (HYPE) has rebounded 110% since mid-October, trading between $47–$49.
- A breakout from a descending wedge pattern suggests potential growth towards $52–$55 if momentum holds above $48.
- The Money Flow Index (MFI) is at 63, indicating strong inflows and investor confidence.
- If resistance is not cleared, a retracement to $44 support may occur.
Buybacks and On-Chain Revenue
- Hyperliquid generated over $111 million in fees in the last 30 days, ranking third among DeFi protocols by revenue.
- A $644 million Assistance Fund Buyback program reduces circulating supply to 336 million HYPE, supporting tokenomics.
- The HIP-3 upgrade enables new perpetual markets through staked HYPE, attracting institutional interest.
- With $1.5 trillion in cumulative trading volume, Hyperliquid maintains dominance in decentralized derivatives despite competition.
Analysts indicate that continued bullish momentum and increasing HyperEVM adoption could drive HYPE to surpass $60, reinforcing its position as a leading DeFi ecosystem.