Hyperliquid (HYPE) is capturing renewed market attention as momentum builds around its ecosystem, on-chain activity, and institutional interest. Currently trading at $35.42—a 5.03% gain over the past 24 hours—HYPE is holding above a critical support zone, with traders eyeing a potential breakout toward $38.50 and possibly $39. This bullish momentum is being fueled by a combination of strong technicals, aggressive token buybacks, and a landmark $35 million institutional investment.
Institutional Confidence: EyEnovia’s $35 Million HYPE Buy-In
A major catalyst behind the recent surge in sentiment is the $35 million acquisition of HYPE tokens by **EyEnovia**, a Nasdaq-listed biotech company. The firm purchased over one million HYPE tokens at an average price of $34 as part of a broader $50 million private placement. This move marks a historic milestone: EyEnovia is now the first publicly traded company on Nasdaq to take a direct equity stake in Hyperliquid.
This isn’t just a financial investment—it’s a strategic one. EyEnovia plans to launch a validator node on the Hyperliquid network and develop ecosystem infrastructure, signaling long-term commitment. Such corporate involvement adds credibility and could catalyze further institutional adoption, shifting HYPE from speculative asset to one with real-world utility and governance participation.
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Record-Breaking Buybacks Strengthen Market Support
In tandem with EyEnovia’s purchase, Hyperliquid executed one of its largest buyback events to date. On-chain data reveals that the protocol repurchased **$3.63 million worth of HYPE tokens** in a single day through its Assistance Fund. These buybacks occurred at an average price of $32.77—slightly below EyEnovia’s entry point—indicating strong foundational support beneath the current market price.
Token buybacks are a powerful mechanism for value accrual. By reducing circulating supply, they increase scarcity and can drive upward price pressure over time. The fact that these buybacks coincided with major institutional accumulation suggests a convergence of on-chain strength and off-chain confidence.
Moreover, consistent buyback activity signals that the Hyperliquid team is actively managing tokenomics to support long-term sustainability—a trait increasingly valued by sophisticated investors.
Technical Outlook: $35 Support Holds, Bullish Structure Intact
From a technical perspective, HYPE is defending a pivotal support zone between $34 and $35, which previously acted as resistance during earlier price rallies. Now, this level has flipped into support, reinforcing its significance. Recent price action shows a series of higher lows forming above this band, indicating sustained buying interest and structural strength.
Analysts note that as long as HYPE maintains this level with consistent volume, the short-term bias remains firmly bullish. The consolidation phase appears to be building momentum for a potential breakout.
Key Resistance Levels to Watch
- Immediate Resistance: $36.80 – $37.40
A clean break above this range could trigger accelerated buying. - Next Target Zone: $38.50 – $39.00
This area aligns with prior swing highs and represents the next psychological and technical hurdle.
If volume accompanies the move upward, a surge beyond $39 becomes increasingly plausible—especially if broader market conditions remain favorable.
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Hyperliquid’s Revenue Dominance: A Hidden Gem Among Layer 1s
While much of the crypto narrative focuses on high-profile Layer 1 blockchains like Ethereum, Solana, and Tron, Hyperliquid has been quietly outperforming them in a critical metric: annualized revenue.
Recent data shows Hyperliquid generates over $843 million in annualized revenue, surpassing even established players. Yet, its market valuation remains relatively modest. With a market cap-to-revenue ratio of just 13.8x, Hyperliquid stands in stark contrast to Solana’s 1,437x multiple.
This discrepancy suggests that HYPE may be significantly undervalued relative to its fundamental performance. Unlike many networks that rely on speculation or token incentives, Hyperliquid’s revenue is driven by real user activity—particularly in perpetual futures trading—making it one of the most economically robust protocols in the space.
Why This Matters for HYPE’s Future
The combination of strong fundamentals, institutional validation, and active supply management creates a compelling case for HYPE’s long-term upside. While short-term price movements are always subject to volatility, the current setup reflects more than just hype—it reflects structural strength.
As more institutions recognize Hyperliquid’s technological and economic advantages, demand for HYPE could shift from retail-driven to institutionally supported—a dynamic that often leads to sustained price appreciation.
Frequently Asked Questions (FAQ)
Q: What triggered the recent price increase in HYPE?
A: The surge was driven by two major factors: a $35 million institutional buy-in from Nasdaq-listed EyEnovia and a record $3.63 million token buyback by Hyperliquid’s Assistance Fund.
Q: Is HYPE undervalued compared to other Layer 1 blockchains?
A: Yes. Despite generating over $843 million in annualized revenue—more than Ethereum, Solana, and Tron—HYPE trades at a market cap-to-revenue ratio of just 13.8x, far below peers like Solana.
Q: What is the significance of the $35 support level?
A: The $34–$35 zone was previously strong resistance. Its conversion into support indicates a shift in market sentiment and provides a solid foundation for further gains.
Q: What are the next key price targets for HYPE?
A: After breaking through $37.40, the next major target is the $38.50–$39.00 resistance zone. A confirmed breakout could open the door to even higher levels.
Q: How do token buybacks affect HYPE’s price?
A: Buybacks reduce circulating supply, increasing scarcity. When combined with rising demand, this can create strong upward price pressure over time.
Q: Can retail investors benefit from HYPE’s growth?
A: Absolutely. While institutional interest is growing, HYPE remains accessible to retail traders and offers exposure to a high-performance blockchain with real revenue generation.
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Final Thoughts: A Confluence of Strength
Hyperliquid is no longer flying under the radar. With record buybacks, institutional adoption, robust revenue generation, and a solid technical structure, HYPE is demonstrating resilience and long-term potential.
The current consolidation near $35 is not a sign of weakness—it’s a foundation being laid for the next leg up. Traders and investors alike should watch the $36.80–$37.40 breakout zone closely. A decisive move above it could ignite a rally toward $39 and beyond.
As the crypto market continues to evolve, assets backed by real utility, strong economics, and growing ecosystem support are likely to lead the next cycle. Hyperliquid (HYPE) appears well-positioned to be among them.
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