Key Takeaways
- HYPE’s value increased more than 5% over 24 hours, reaching approximately $38.28 with trading activity surging 50% to $288 million
- Former BitMEX chief Arthur Hayes declares HYPE as his exclusive cryptocurrency purchase at present
- Hayes projects HYPE will reach $150 by August 2026
- An unlock of 9.9 million tokens on April 6 was successfully absorbed by the market without significant downward pressure
- Critical resistance level exists at $38, with potential upside movement toward $41.27 upon breakthrough
The Hyperliquid native token HYPE experienced an upward movement exceeding 5% during the previous 24-hour period, with prices hovering around $38.28. This price action occurred in tandem with a wider cryptocurrency market rebound, where Bitcoin gained over 4% throughout the identical timeframe.
HYPE’s trading activity witnessed a 50% surge, climbing to approximately $288 million. This substantial increase in volume indicates that new market participants are entering positions, rather than simply existing holders redistributing their holdings.
On April 8, Arthur Hayes—BitMEX co-founder and Chief Investment Officer at family office Maelstrom—announced via X that HYPE represents “the only thing we’re buying right now.” Hayes continues to hold a $150 price projection for HYPE by August 2026, representing approximately a 4x multiplication from present valuation levels.
The only thing we’re buying right now is $HYPE
— Arthur Hayes (@CryptoHayes) April 8, 2026
According to Hayes, Hyperliquid’s revenue model serves as a primary driver for his bullish stance. The protocol allocates 97% of its generated revenue toward buying back HYPE tokens from secondary markets.
Scheduled Token Release Successfully Digested
Approximately 9.9 million HYPE tokens entered circulation on April 6, distributed to core contributors per a predetermined schedule. Such unlock events frequently precipitate selling activity. However, prices remained stable throughout this release, implying that market participants had already factored in the increased circulating supply.
The Hyperliquid platform maintains open interest exceeding $2.3 billion. Additionally, the protocol has diversified into tokenized real-world assets, incorporating oil futures contracts that are generating billions in transaction volume.
Hayes Liquidates Alternative Token Holdings
Despite accumulating HYPE, Hayes has been divesting from other positions. Blockchain analytics from Lookonchain and Arkham Intelligence reveal he liquidated his ETHFI holdings at a 13% deficit, having acquired 265,461 tokens at $0.51 before selling at $0.44.
Additionally, he transferred 3.55 million AUKI tokens valued at approximately $19,600 to FlowDesk, suggesting a liquidation event. AUKI recorded a 5% gain over the past day, with volume climbing 91%.
$HYPE looks set for another leg up
Bull flag structure spotted
Ascending structure
Daily bull retest completed at 34.50Problem for bulls: $40.00 weekly resistance
A breakout above, would lead to a push toward 50$+ #HYPE #TradingAlert pic.twitter.com/C5m7o18Alj— 🧙 Crypto_Jobs🧙♂️ TA & FA 🎯 (@CryptoJobs3) April 7, 2026
From a technical analysis perspective, HYPE confronts resistance in the vicinity of $38. A decisive break above this threshold could establish a trajectory toward $41.27. Support is positioned at $36.38, where a breakdown could drive prices toward the $30 region.
The wider market rally received support from enhanced regulatory optimism in the United States, including conversations surrounding a “Reg Crypto” regulatory framework and Morgan Stanley’s introduction of spot Bitcoin ETF access.
Hyperliquid maintains open interest levels above $2.3 billion, while protocol-level token buybacks connected to the HIP-4 fee structure remain operational.
