Binance US listing news pushes HYPE price towards a new ATH
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Hyperliquid’s native token HYPE surged nearly 13% on the heels of a major announcement that the asset will soon be listed on Binance US.
The news, which comes a day after Binance Futures launched a new high-leverage derivative product tied to HYPE, has reignited bullish sentiment across the crypto market, with HYPE drawing strong momentum just days after pulling back from its recent all-time high.
Traders and analysts are now watching closely as the token positions itself for a potential breakout to uncharted price territory.
The continuation of the bullish trend
Following the news, the HYPE token, which powers the fast-growing Hyperliquid derivatives exchange, climbed to $37.48.
This jump represents a 12.56% increase in 24 hours, with the price range for the day spanning from $33.05 to $37.77.
The surge in price came alongside a significant spike in trading volume, which soared nearly 79% to $329.33 million, indicating strong demand following the listing announcement.
Notably, the price action continues a broader uptrend that began in early April.
On April 7, HYPE hit a local bottom of $9.30, after which the asset began a steep climb that culminated in a new all-time high of $39.68 on May 26.
Since then, the token experienced a modest correction but maintained a strong bullish structure, consistently forming higher highs and higher lows.
Now, with the news of a Binance US listing, buyers have returned in force, pushing the token within striking distance of its previous peak.
Hyperliquid price analysis
Technically, the setup remains highly favourable for bulls. HYPE has remained firmly above its 20-day exponential moving average since April, reflecting a sustained uptrend.
On the 12-hour chart, the price structure shows a clear cup-and-handle pattern, a classic bullish continuation signal.
The handle, formed by the recent pullback, tested and held support around the $28.40 level, previously a major resistance, before the latest rally resumed.
Momentum indicators also support the current bullish outlook.
The Relative Strength Index (RSI) has climbed to 68, approaching the overbought zone and nearing a potential golden cross.
At the same time, the Moving Average Convergence Divergence (MACD) is showing signs of shifting back into bullish territory. The histogram bars are shrinking, while the MACD line is on the verge of crossing above the signal line, which often precedes further upward movement.
Fundamentally, Hyperliquid continues to dominate the decentralised derivatives exchange space.
With over 81% market share in the DEX derivatives sector, the protocol remains the leading platform for perpetual futures trading.
In the last 24 hours alone, Hyperliquid processed $6.495 billion in perpetuals volume on its proprietary Layer 1 network.
This commanding position lends strong support to the token’s market value and investor confidence.
At present, HYPE ranks #11 among all cryptocurrencies by market cap, valued at approximately $12.52 billion.
The circulating supply stands at 333.9 million tokens out of a total max supply of 1 billion.
Meanwhile, the token continues to gain attention, now appearing on over 105,000 watchlists — a reflection of its growing popularity among traders and investors alike.
With the upcoming Binance US listing acting as a major catalyst, HYPE is poised to potentially break past its current all-time high.
If momentum continues to build, a decisive move above $40 could usher in a new phase of price discovery.
For now, all eyes remain on Hyperliquid as the market watches whether the token can capitalise on its momentum and push into uncharted territory.
The post Binance US listing news pushes HYPE price towards a new ATH appeared first on Invezz
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