Key Highlights
- HYPE token advanced more than 5% within 24 hours, reaching approximately $38.28 with trading activity surging 50% to $288 million
- BitMEX co-founder Arthur Hayes declares HYPE as “the only thing we’re buying right now”
- Hayes maintains a bullish $150 price forecast for HYPE by August 2026
- Scheduled unlock of 9.9 million tokens on April 6 was successfully absorbed with minimal market impact
- Critical resistance level positioned at $38, potential upside movement toward $41.27 if breached
The Hyperliquid native token HYPE experienced a notable gain exceeding 5% over the last 24 hours, currently trading around $38.28. This upward momentum coincided with a wider cryptocurrency market rebound, as Bitcoin also posted gains above 4% during the identical timeframe.
HYPE’s trading volume experienced a significant 50% increase, approaching nearly $288 million. This substantial uptick in market activity indicates that new participants are entering the market rather than simply existing token holders repositioning their assets.
On April 8, Arthur Hayes—the co-founder of BitMEX and Chief Investment Officer at Maelstrom family office—declared via X that HYPE represents “the only thing we’re buying right now.” Hayes continues to hold firm on his ambitious $150 price projection for HYPE by August 2026, representing approximately a 4x multiplication from present price levels.
The only thing we’re buying right now is $HYPE
— Arthur Hayes (@CryptoHayes) April 8, 2026
Hayes emphasizes Hyperliquid’s revenue model as a fundamental driver behind his strong conviction. The decentralized platform allocates 97% of its generated revenue toward purchasing HYPE tokens directly from the secondary market.
Major Token Release Successfully Absorbed
A scheduled distribution of approximately 9.9 million HYPE tokens to core contributors occurred on April 6. Typically, such unlock events create downward price pressure through increased selling activity. However, HYPE’s price remained resilient throughout this event, indicating that market participants had already factored in the incoming supply.
The Hyperliquid platform currently maintains open interest exceeding $2.3 billion. Additionally, the platform has diversified into tokenized real-world assets, incorporating oil futures contracts that are generating billions in daily trading volume.
Hayes Liquidates Two Alternative Positions
While accumulating HYPE, Hayes has been reducing exposure to other digital assets. Blockchain analytics from Lookonchain and Arkham Intelligence reveal he liquidated his entire ETHFI holdings at a 13% loss, having initially acquired 265,461 tokens at $0.51 per token and selling at $0.44.
Additionally, Hayes transferred 3.55 million AUKI tokens valued at approximately $19,600 to FlowDesk, signaling a likely sale. AUKI registered a 5% gain over the past 24 hours, accompanied by a 91% surge in trading volume.
$HYPE looks set for another leg up
Bull flag structure spotted
Ascending structure
Daily bull retest completed at 34.50Problem for bulls: $40.00 weekly resistance
A breakout above, would lead to a push toward 50$+ #HYPE #TradingAlert pic.twitter.com/C5m7o18Alj— 🧙 Crypto_Jobs🧙♂️ TA & FA 🎯 (@CryptoJobs3) April 7, 2026
From a technical analysis perspective, HYPE encounters immediate resistance around the $38 threshold. A decisive breakthrough above this level could establish a trajectory toward $41.27. The primary support zone is located at $36.38, where a breakdown could potentially drive prices toward the $30 region.
The cryptocurrency market’s broader uptrend received support from enhanced regulatory clarity in the United States, including ongoing discussions regarding a comprehensive “Reg Crypto” framework and Morgan Stanley’s recent introduction of spot Bitcoin ETF access to clients.
Hyperliquid maintains its open interest above the $2.3 billion threshold, while the HIP-4 fee model continues to facilitate automatic protocol-level token buybacks from circulating supply.
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