HYPE Surges 13% After Robinhood Listing, Reaches Over $40
Robinhood (HOOD) has announced the listing of HYPE, the token of the decentralized exchange Hyperliquid. This announcement led to a 13% increase in HYPE's price, reaching over $40.
$1 Billion Buyback for HYPE Token
- HYPE has reached a market capitalization of nearly $11 billion.
- The token has surged by 1,000% since its launch at $10 in December 2024.
- Trading volume increased by 18% in the last 24 hours.
- Hyperliquid Strategies plans to raise $1 billion for a HYPE token buyback.
- They hold about 12.6 million HYPE tokens worth approximately $470 million and have $305 million in cash for further purchases.
Price Levels for Hyperliquid
- HYPE is currently trading at around $40.54, 31% below its all-time high of $59.
- A weekly close above $40 could turn this resistance into support, aiding potential price increases.
- Resistance levels are identified at $42, $46, and $50 before attempting to retest the $59 peak.
- Support is anticipated at $35, providing a buffer against potential declines.
