Key Highlights
- HYPE token surged more than 5% within 24 hours, reaching approximately $38.28 with trading volume jumping 50% to $288 million
- BitMEX co-founder Arthur Hayes declares HYPE as “the only thing we’re buying right now”
- Hayes maintains an ambitious $150 price projection for HYPE by August 2026
- Scheduled unlock of 9.9 million tokens on April 6 was successfully absorbed by the market
- Critical resistance level at $38 could open pathway to $41.27 upon breakthrough
The Hyperliquid native token HYPE experienced a notable upward movement exceeding 5% over the last day, currently hovering around $38.28. This price action aligned with a wider cryptocurrency market rebound, as Bitcoin also registered gains above 4% throughout the same trading period.
HYPE’s trading activity witnessed a significant 50% increase, climbing to approximately $288 million. This substantial volume expansion indicates new market participants are actively accumulating rather than simply existing token holders shuffling their positions.
In a notable endorsement on April 8, Arthur Hayes—BitMEX co-founder and Chief Investment Officer of family office Maelstrom—declared via X that HYPE represents “the only thing we’re buying right now.” Hayes continues to advocate for a $150 valuation target for HYPE by August 2026, implying a potential 4x appreciation 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 for his bullish stance. The decentralized exchange allocates 97% of generated revenue toward HYPE token buybacks from secondary markets.
Scheduled Token Distribution Met With Market Resilience
A planned distribution of approximately 9.9 million HYPE tokens occurred on April 6, allocated to core project contributors. Such unlock events typically introduce selling pressure. However, HYPE’s price demonstrated remarkable stability, indicating market participants had already factored the increased circulating supply into valuations.
Hyperliquid’s platform maintains open interest exceeding $2.3 billion. The protocol has diversified operations into tokenized real-world asset offerings, including petroleum futures contracts, which are generating billions in trading activity.
Hayes Liquidates Alternative Token Positions
Concurrent with his HYPE accumulation, Hayes has been divesting other holdings. Blockchain analytics from Lookonchain and Arkham Intelligence reveal he liquidated his ETHFI stake at a 13% deficit, after initially purchasing 265,461 tokens at $0.51 and subsequently selling at $0.44.
Additionally, Hayes transferred 3.55 million AUKI tokens valued at roughly $19,600 to FlowDesk, signaling a probable exit. AUKI recorded a 5% gain during the past 24 hours, accompanied by a 91% trading volume increase.
$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 confronts immediate resistance around the $38 threshold. A decisive breakout above this level would potentially establish a trajectory toward $41.27. Downside support exists at $36.38, with a breach potentially driving prices toward the $30 zone.
The cryptocurrency market’s broader upward momentum received support from enhanced regulatory clarity in the United States, including ongoing conversations regarding a comprehensive “Reg Crypto” framework and Morgan Stanley’s introduction of spot Bitcoin ETF access.
Hyperliquid maintains open interest levels above $2.3 billion, while protocol-level token buyback mechanisms linked to the HIP-4 fee structure remain actively operational.
