Hyperliquid (HYPE) Price: Binance U.S Listing Announcement Drives 20% Rally

TLDR

Binance U.S announced it will list Hyperliquid (HYPE) for spot trading, triggering a 20% rally to $37.85 Over $1 billion in HYPE tokens are now staked with 40 million tokens locked, showing strong community commitment HYPE captured 74.97% of decentralized perpetual exchange volume in May 2025 with peak daily volume of $5.98 billion The token has risen 300% from April lows and is approaching its all-time high of $42.2 from December Hyperliquid operates a deflationary model, reducing supply by 12.5% to 17.5% annually as revenues grow

---

Hyperliquid’s HYPE token surged 20% following Binance U.S announcing plans to list the cryptocurrency for spot trading on June 2. The token jumped from $31 to $37.85 since Sunday.

Hyperliquid (HYPE) Price

The announcement triggered a 7% initial spike that extended into a broader mid-week rally. HYPE has climbed 300% from its April lows.

The token is now approaching its all-time high of $42.2 reached on KuCoin exchange in December. Current trading levels put HYPE close to retesting this previous peak.

Strong On-Chain Metrics Support Price Movement

Over $1 billion in HYPE tokens are now staked across the platform. The network has locked 40 million tokens, according to data from Nansen.

Hyperliquid.
$1B in $HYPE staked.
40M tokens locked. pic.twitter.com/wOWeWIk1HU

— Nansen 🧭 (@nansen_ai) January 30, 2025

This staking activity reduces the circulating supply available for trading. The locked tokens represent strong community commitment to the project.

Hyperliquid dominated decentralized perpetual exchange volume in May 2025. The platform captured 74.97% of total DEX perpetual trading volume.

Daily trading volume peaked at $5.98 billion during May. This activity level demonstrates genuine user demand for the platform.

The protocol’s trading dominance reflects strong infrastructure and sticky liquidity. Users are actively choosing Hyperliquid over competing platforms.

Technical Analysis Points to Key Levels

Previous resistance at $36 has flipped to become support for HYPE. This technical development suggests buyers are defending the breakout level.

Source: TradingView

The next target levels are $40 and $44 based on chart patterns. Current momentum and supply dynamics support these price targets.

Technical indicators show the RSI approaching overheated conditions. The On Balance Volume sits at resistance levels formed in February.

A potential pullback could offer buying opportunities at $30 or the 50-day exponential moving average around $27. These levels align with Fibonacci retracement support.

Source: Coinglass

CoinGlass liquidation data shows heavy liquidity around $28-$30. This area could attract price action during any correction.

The 50-day EMA sits above the 50% Fibonacci retracement level. This positioning makes it a potential inflection point during retracements.

HYPE’s deflationary tokenomics set it apart from other cryptocurrencies. The protocol burns tokens, reducing supply by 12.5% to 17.5% annually as revenues grow.

Most tokens face constant unlock pressure and supply inflation. Hyperliquid’s model flows value back to token holders instead.

The deflationary mechanism creates scarcity while the platform generates revenue. This dynamic supports long-term price appreciation potential.

The post Hyperliquid (HYPE) Price: Binance U.S Listing Announcement Drives 20% Rally appeared first on CoinCentral.