Hyperliquid’s bullish surge amid market uncertainty – HYPE gains 18%

By: ambcrypto|2025/05/08 00:15:01

Hyperliquid jumped to #3 in blockchain fees over 24 hours, surpassing Ethereum and Bitcoin. Fee hikes tested user loyalty; volume and liquidity remained firm as HYPE eyed a $50 breakout. In a startling move up the ranks, Hyperliquid [HYPE] has soared to become the third-highest blockchain by daily fee generation in 24 hours, trailing only Solana [SOL] and Tron [TRX] . With surges in daily revenue, perpetuals volume, and bridged TVL, it has overtaken Ethereum [ETH] and Bitcoin [BTC] — an outcome almost unthinkable just months ago. At the heart of this surge is native token HYPE, which has shown strength even in a risk-off macro environment that punishes speculative assets. Recent price performance HYPE traded at around $21.28 at press time, and was up more than 18% from its local bottom earlier this month. On a recent 5-minute chart, the HYPE token showed a classic accumulation-to-expansion breakout, with bulls repeatedly defending the $19.5-$20 range. Source: X Despite the rally, the absence of a blow-off top in volume suggests the trend may still have legs. It’s not euphoric yet — just strong, consistent bidding and solid liquidity support. Hyperliquid’s fee generation now tops BNB Chain, Ethereum, and even Bitcoin — an impressive feat for a protocol often dismissed as a DeFi underdog. Its TVL has climbed past $840 million, rising nearly 2% on a daily basis. At the same time, the protocol has raked in $1.36 million in daily revenue and processed a staggering $4.47 billion in daily perpetuals volume. Bridged capital stood at $2.63 billion, showing deep cross-ecosystem migration into the protocol. Source: DeFiLlama Fee hikes as a litmus test The team’s decision to raise protocol fees mid-bear market shows great confidence. Market makers and funds must now buy and stake HYPE to remain competitive — driving real demand. Source: Artemis But this isn’t without risk. Higher fees could deter volume in a jittery market, resulting in weaker buybacks and a potential short-term price retreat. Still, flipping Ethereum and Bitcoin in fee revenue during such a move is a powerful validation. Possible scenarios If trading volumes stay strong despite Hyperliquid’s recent fee hike, analysts suggest that HYPE could grind toward $50. The daily chart showed bullish momentum, with RSI near 67 and MACD trending up — signs of strong buying pressure. Source: TradingView The fact that users are sticking around even as fees rise mid-cycle signals deep liquidity and ecosystem strength. But if the broader market turns risk-off, higher fees could dent volumes, reduce buybacks, and trigger a cooldown. A reversal wouldn’t be surprising with RSI nearing overbought levels. Share Share Tweet

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