Filing Frenzy: HYPE Token Defies Market Slump
Changpeng Zhao said not long ago that ASTER would turn Hyperliquid upside down. ASTER has since lost more than 60% of its value. HYPE, on the other hand, is trading slightly below $40, which most people consider to be a small adjustment. The recent S-1 filing by Hyperliquid Strategies Inc. with the SEC added to the momentum. The corporation wants to sell 160 million shares in order to raise up to $1 billion. It is possible to purchase HYPE tokens with a portion of those funds. The price of HYPE surged 11% in the last day after the news, placing it among the top gainers in a generally sluggish market.
Massive Buybacks and Record Adoption Power HYPE Token Momentum
The majority of this impetus stems from HYPE’s buyback plan and the project’s strong financial results. Hyperliquid repurchased more than $3 million worth of tokens in the last day alone and $21 million in the previous week. The average price has increased to about $35.60 as a result of such significant buybacks.
Moreover, the statistics for Hyperliquid are increasing. According to the most recent report on October 21, the overall number of new users reached an all-time high of 779,063. Since late last year, the network has seen an average of 1,800 new users every day. Thus, HYPE has emerged as a notable asset of the current cycle and has established itself as one of the most popular cryptocurrency products.
HYPE Token Recovery Gains Steam After Holding Key Support Zone
After the market meltdown, HYPE is attempting to recover by double-tapping the 34–35 support zone. The tiny double bottom that is forming there suggests some early accumulation. This green zone has been a strong demand location on several occasions. The price is currently attempting short-term resistance at about 40, which coincides with a pivot in the structure as well as a significant psychological threshold. An advance toward 43.6 and perhaps even 50 might be fueled by momentum if buyers can turn that region into support.
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