Hyperliquid’s price is going up fast right now. People are buying more of it, and there’s a big update to how it works. The token is up almost 13% today, and people are trading it a lot more – trading volume is up 46%. Right now it’s worth about $14.93.
The price jump comes after they added new staking tiers. These tiers make the token more useful and give discounts on trading fees.
Hyperliquid announced a new staking tiers system, set to go live on or after April 30, offering users reduced trading fees based on the amount of HYPE staked. The update also includes a reworked fee structure, positioning the platform as a competitive alternative to centralized exchanges.
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According to the official statement from Hyperliquid, the new system will ensure that even users who do not stake still benefit from lower trading fees compared to centralized platforms. The move is expected to drive higher protocol revenue while increasing HYPE’s overall utility. Additionally, spot trading volumes will count double toward a trader’s fee tier, further incentivizing activity on the platform.
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Whale Accumulation Fuels Buying Pressure
Investor interest in HYPE has intensified, with large trades suggesting significant accumulation. Crypto trader Alan highlighted this trend on X, stating, “It seems someone likes the new utility added to $HYPE this morning and decided they want $15m of it.” This suggests that a large investor has made a substantial purchase, adding momentum to the ongoing rally.
Another prominent trader, Peggy.hl, emphasized the potential demand for HYPE, stating that major traders looking for an on-chain Binance alternative may begin accumulating the token. This growing narrative around HYPE’s expanding use case appears to be fueling speculative interest in the asset.
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Hyperliquid Technical Analysis: Key Support and Resistance Levels
HYPE’s price action shows a retest of the $12 support zone, where it previously staged a 240% rally to reach $42. In the past, this price level has been where people tend to start buying. Looking at the chart, there might be resistance around $24-$26. If the price breaks above that, it could climb to $42.
On the downside, losing the $12 support could push the price lower, with the next major demand zone around $8-$10. However, with rising accumulation and increasing utility, bullish momentum appears to be strengthening.
The price movement in HYPE is being driven by a mix of fundamental developments and market speculation. The staking tiers update, coupled with large-scale accumulation, has fueled renewed interest in the token. As the market awaits the April 30 implementation of the new system, traders will closely monitor price action to determine whether HYPE’s price can sustain its upward momentum or face resistance at key levels.
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