TLDR

VanEck CEO Jan van Eck publicly endorsed Hyperliquid, confirming ownership and active ecosystem participation
Hyperliquid is launching its native stablecoin USDH, attracting proposals from major institutions like Paxos and Frax Finance
HYPE price reached a new all-time high of $53.44, representing a 1,200% increase from 2024 lows
Technical analysis shows an ascending triangle pattern with strong support at $42-$45, suggesting potential breakout above $52 resistance
The announced allocation of 95% of USDH revenue toward HYPE buybacks creates a fresh demand-side catalyst

Hyperliquid’s HYPE token has surged to a new all-time high, driven by high-profile endorsements and upcoming stablecoin launch. The token recently peaked at $53.44, representing an 8.5% jump in 24 hours and over 1,200% growth from late 2024 lows.

VanEck CEO Jan van Eck has publicly expressed his confidence in Hyperliquid through a recent post on X. “We are bullish Hyperliquid. We are owners (and have been for several months). And we’d be thrilled to be a part of your community’s ecosystem,” van Eck stated.

Dear Hyperliquid community,
 
We are impressed by your product, the technology, the decentralized governance, and the method of your rollout.
 
And we think we can be part of a trusted, compliant solution.
 
We provide research to the community, for free, in an effort to be…

— Jan van Eck (@JanvanEck3) September 8, 2025

The endorsement comes at a pivotal time as Hyperliquid prepares to launch its native stablecoin, USDH. This development has drawn interest from multiple institutional players who have submitted governance proposals to participate in issuing or managing the stablecoin.

Paxos has proposed a model where 95% of reserve interest would be used for HYPE token buybacks. Their proposal includes backing reserves with U.S. Treasury bills, repurchase agreements, and Paxos’ Global Dollar stablecoin.

DeFi platform Frax Finance has also entered the race, proposing to mint USDH against its frxUSD, USDC, USDT, and dollar reserves. Their plan could direct reserve earnings toward staking rewards or HYPE buybacks.

Sky, co-founded by Rune Christensen, has pitched a customizable token that promises yields comparable to U.S. Treasury bills. These proposals have boosted investor confidence in HYPE’s long-term value.

Technical Analysis Points to Further Gains

The price chart for HYPE shows an ascending triangle pattern forming, with the token repeatedly testing the $50-$52 resistance zone. Each retest has come with stronger participation, while the rising support level indicates growing buyer interest.

Hyperliquid Price on CoinGecko

On-chain data reveals that Hyperliquid’s absorption ratio has been trending lower while the price continues to climb. This declining ratio typically suggests decreasing sell pressure, creating more room for upward price movement.

The weekly chart demonstrates HYPE holding firmly above the critical $42 support level, which has served as a stable foundation throughout recent consolidation. This stability pairs with a reset in the weekly Relative Strength Index (RSI), which has started climbing again after clearing excess momentum.

With market participation growing and the announced allocation of 95% of USDH revenue toward HYPE buybacks, analysts suggest the token could target the $60-$70 range following a confirmed breakout above the $52 resistance level.

Institutional Interest Grows

Lion Group Holding Ltd. has disclosed plans to swap its Solana and Sui holdings for HYPE tokens. The company attributed this reallocation to BitGo’s introduction of custody services for HyperEVM assets, indicating growing institutional confidence in Hyperliquid’s ecosystem.

In August, Hyperliquid set a new monthly revenue record, recording over $106 million in lifetime revenue and trading activity. This represents a 23% increase from July’s $86.6 million.

Daily trading volume for HYPE currently sits around $570 million. While this remains lower than major cryptocurrencies, exchanges like Bitget and Bybit have recorded strong trading activity for the token.

The growing involvement from traditional financial institutions like VanEck suggests Hyperliquid is gaining credibility as a top decentralized perpetual exchange, especially as it advances toward stablecoin issuance and community-driven initiatives.

As long as HYPE maintains support above the $46-$47 zone, the bullish case remains intact. With continued USDH buybacks adding steady demand pressure and RSI recovery aligning with stronger volume, the momentum appears to favor further upside.

The most recent data shows HYPE trading at $48.66, up nearly 4% in 24 hours, as it continues testing the crucial resistance level that could open the door to new all-time highs.

The post Hyperliquid (HYPE) Price: Technical Analysis Shows Potential Breakout Above $52 Resistance appeared first on Blockonomi.

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Filed under: Bitcoin - @ September 9, 2025 10:21 am