Hyperliquid (HYPE) Rallies Toward $50 as Hypurr NFT Frenzy Sends Floor Above $60K

Hyperliquid’s native token HYPE is approaching the $50 mark after a 24-hour 7.7% increase to approximately $47, driven by the launch of 4,600 Hypurr NFTs on the HyperEVM. The collection launched strongly with a floor near $68,700 and about $45 million in first-day volume.

One rare piece, Hypurr #21, sold for 9,999 HYPE ($467,000), stressing strong demand among NFT traders and Hyperliquid’s early community. Most NFTs were allocated to participants from the November 2024 Genesis Event, with some allocations also made to the Hyper Foundation and core contributors.

Hyperliquid (HYPE) Trading Volume Surges

Hyperliquid’s network excitement coincides with increased derivatives activity: daily spot trading rose, futures volume increased approximately 13.9% to $1.8 billion, and open interest grew to $2.28 billion, indicating active short-term trading interest even if longer-term confidence remains cautious.

Technically, $50 is the immediate resistance to surpass; $44 serves as a strong support level. With RSI near 46, MACD negative, and Bollinger Bands tightening, traders are watching for volatility to expand, which could shape the next move.

Institutional chatter fuels optimism: ARK Invest’s Cathie Wood recently compared Hyperliquid’s growth to that of early Solana, placing the DEX firmly on the radar of big money. Behind the scenes, the team continues to broaden its defenses.

Hyperliquid launched permissionless spot quote assets on mainnet, with USDH (backed by cash and U.S. Treasuries) serving as the first quote. This move enables community-driven listings through Dutch auctions and introduces HYPE/USDH pairs, expanding liquidity while lowering barriers.

Launched in February 2025, the HyperEVM programmability layer connects smart contracts with the chain’s HyperBFT consensus and HyperCore liquidity, allowing developers to create lending markets, vault tokenization, and liquid staking.

Risks: Unlock Overhang, Security Alerts, Rising Competition

Tailwinds aside, investors face genuine risks. A rival perpetuals platform, Aster, briefly surpassed Hyperliquid’s weekly volume after the token launch, highlighting intense competition in the DEX space.

Security concerns arose when researcher ZachXBT reported the theft of eight Hypurr NFTs worth $400K shortly after launch, another reminder to improve wallet security. Most importantly, a pending $12B HYPE unlock threatens price discovery; additional supply might pressure prices if not absorbed by demand.

To sum this up, if HYPE exceeds $50 on high volume, bulls could target a retest of the $59 all-time high from Sept. 18 and might move into the $55–$65 range next. Falling below $44 could cause a drop into the high-$30s.

Cover image from ChatGPT, HYPEUSD chart from TradingView