HYPE has reawakened sentiment in the crypto market after a sharp daily jump of 11.91% that pushed the price of Hyperliquid above its 200-day simple moving average (SMA) at $39.02.
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The rise follows renewed investor optimism fueled by institutional participation and aggressive whale activity. Traders are now eyeing the $41.76 resistance level, a breakout point that could confirm a complete trend reversal.
After retrieving the key 61.8% Fibonacci level at $35.84, Hyperliquid’s price is showing resilience amid broader market volatility, with volume spikes reflecting growing demand for exposure ahead of upcoming corporate milestones.
A $1 billion fundraising and plans for a public listing have fueled institutional excitement
The catalyst behind the rise stems from Hyperliquid Strategies Inc.’s recent S-1 filing. to the US Securities and Exchange Commission (SEC), detailing plans to raise up to $1 billion through a public offering of 160 million shares.
The funds are set to support the expansion of the ecosystem and the accumulation of HYPE tokens, further bridging decentralized finance (DeFi) with traditional markets.
An entity created by merging between Nasdaq-listed Sonnet BioTherapeutics and Rorschach I LLCintends to become a public crypto treasury management company under the Hyperliquid umbrella.
Analysts see the move as a big step towards institutional legitimacy, with portions of the proceeds earmarked for token buybacks and stake operations.
HYPE's price trends to the upside on the daily chart. Source: HYPEUSD on Tradingview
How developments will affect the price of hyperfluid
The merger and the $1 billion fundraising are expected to have a lasting boost to Hyperliquid’s price. Confidence is already rising as the token climbs above key resistance levels, signaling growing institutional confidence ahead of a planned Nasdaq listing.
With open interest peaking above $2 billion, traders are anticipating continued growth as whales accumulate long leverage. Buybacks and investment plans may further reduce supply, supporting upward pressure Hypercurrent price.
Related reading: Bitcoin’s latest dip below $100,000 looms this week, warns Standard Chartered
A strong close above $41.76 could confirm a new bullish phase, positioning Hyperliquid as the leading bridge between DeFi and traditional finance.
Cover image from ChatGPT, HYPEUSD chart from Tradingview
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