Hyperliquid Rockets 300% to $37 ATH – Is a Solana-Type $250 Breakout Subsequent?

Hyperliquid ($HYPE) rocketed 300% to $37 on Might 23, defying its April lows and sparking Solana-level breakout rumors. The DeFi underdog’s 1,044% YTD surge now threatens to disrupt crypto’s high 5.

Whales and airdrop holders gas the rally. Hyperliquid’s $11 billion airdrop now ranks amongst crypto’s richest paydays. As charges and open curiosity smash information, many marvel if that is the subsequent Solana?

Hyperliquid’s Airdrop Turns to Gold as Charges, TVL, and Open Curiosity Break Data

Just lately, the worth surge has been largely pushed by long-term whales and neighborhood members, additional solidifying the undertaking’s grassroots energy.

In November 2024, the fast-growing DeFi protocol distributed over 310 million $HYPE tokens to early customers, representing 31% of the token’s whole provide. That airdrop is price greater than $11.1 billion on the present market worth, inserting it among the many largest and most respected token distributions in crypto historical past.

Now ranked among the many high 12 cryptocurrencies by market cap, Hyperliquid’s ecosystem has additionally been shattering information.

On Might 22, the platform hit a number of new highs, together with $8.9 billion in open curiosity, $5.4 million in 24-hour charges, and a brand new file in stablecoin TVL. These spectacular metrics have fueled hypothesis that Hyperliquid might quickly enter the highest 5 crypto tasks globally.

Specialists Say $HYPE vs. $SOL May Outline Crypto’s Future

Ryan Watkins, co-founder of Syncracy Capital, believes Hyperliquid might be Solana’s fiercest competitor in shaping the on-chain U.S. equities narrative within the coming quarters.

“The winner of this race might very properly turn out to be crypto’s subsequent $100B to $500B juggernaut and redefine capital markets as we all know them,” he said.

Presently valued at $12 billion, Hyperliquid would see its token worth rise to about $300 if its market cap reached $100 billion—a rise of roughly 800%.

A well known Solana influencer additionally confirmed a hanging similarity between Solana’s $8 worth construction in early 2021 and Hyperliquid’s 2025 worth motion.

He identified that Hyperliquid’s mission, pushed by HyperCore and HyperEVM, carefully mirrors the imaginative and prescient beforehand pursued by Solana and the now-defunct FTX.

He added, “$HYPE is a totally on-chain perpetuals alternate with ~97% of income going straight again to token holders,” arguing that the token is primed for long-term success.

Technical Evaluation: RSI Flashes Overbought—Ought to $HYPE Merchants Be Cautious?

From a technical standpoint, the $HYPE/$USDT each day chart confirms a robust bullish breakout following a prolonged consolidation section.

After bottoming close to the $10–$12 vary, the token steadily climbed, finally breaching the important thing $28 resistance degree on robust quantity.

Inside the targeted space on the chart, candlestick formations hinted at a bullish continuation, setting the stage for the explosive transfer that adopted.

Nevertheless, the Relative Power Index (RSI) now sits at 83.08, indicating overbought situations. Whereas this may occasionally level to a near-term correction, the elevated RSI displays intense shopping for strain.

A bullish divergence in April foreshadowed the present rally, although indicators of a bearish divergence are starting to emerge, one thing merchants ought to keep watch over.

With $28 now a strong help, the subsequent main resistance lies round $45, suggesting one other 25% upside potential if the bullish pattern continues.

Hyperliquid ($HYPE) has blasted via obstacles to hit a brand new all-time excessive of $37.44, hovering greater than 20% in simply 24 hours, to cement its place as probably the most explosive and unforgettable crypto launches in current historical past.

After tumbling to a low of $9.32 in April, many assumed the post-airdrop hype had pale and that $HYPE would quietly be a part of the ranks of underperforming token launches.

Nevertheless, the undertaking has defied expectations, rallying 300% within the final 45 days.

This current run brings Hyperliquid’s year-to-date beneficial properties to an eye-watering 1,044.58%, making it the best-performing blockchain protocol to date in 2025.

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