Hyperliquid (HYPE) reached a record $84.80 on Thursday as buybacks, regulatory momentum and a technical breakout pushed the token toward new resistance.
Key Points:
- HYPE set its second all-time high in seven days and traded near $84.07, up almost 4% on the day.
- Hyperliquid’s AQAv2 program directs most yield from $6.74 billion in stablecoin deposits toward HYPE buybacks.
- Technical levels put $92.37 next, while an Aug. 29 token unlock and a break below $68 remain key risks.
HYPE Record Rally
HYPE broke above its previous $77 ceiling last week, then held that level during a retest before climbing to Thursday’s $84.80 record, BeInCrypto reported. The breakout held. The token traded near $84.07 afterward, up almost 4% for the day, while its market capitalization approached $19 billion.
Hyperliquid began accruing yield under its AQAv2 reserve program on Aug. 26, routing about 90% of cost-adjusted returns on $6.74 billion in USD Coin (USDC) deposits toward HYPE buybacks. Under a 3% yield assumption, the mechanism could add about $182 million annually, an 18% increase over current revenue of roughly $2.76 million per day.
The first distribution is expected Oct. 3. President Donald Trump also said last week that the Commodity Futures Trading Commission was working on a compliant path for Hyperliquid in the United States, adding a regulatory catalyst to the rally.
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Hyperliquid Price Outlook
The weekly chart places the next resistance near $92.37, the 1.272 Fibonacci extension, about 10% above the price cited in the analysis. Weekly RSI is back above 70. In mid-May, a similar reading preceded a rally of about 100% into the previous record.
A similar move would point toward the 1.618 Fibonacci extension at $111.93, although trading volume remains well below January levels. HYPE remains above $68.
The immediate downside risk is a $1.2 billion token unlock scheduled for Aug. 29, followed by another unlock one month later. That unlock could test demand. A daily close below $68 would invalidate the bullish structure described in the analysis.
Earlier in August, HYPE bounced from the 0.618 Fibonacci level at $55.41 after a third test of an ascending trendline. The token later broke $77 during a weekly advance of about 40%, dipped to $76.75 this week and reversed higher to set another record.
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