Key Highlights
- HYPE token gained more than 5% over 24 hours, reaching approximately $38.28, while trading volume surged 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 release of 9.9 million tokens on April 6 was smoothly absorbed by the market
- Critical resistance level at $38, with potential upward movement to $41.27 upon breakout
The HYPE token from Hyperliquid experienced an upward movement exceeding 5% over the last 24 hours, with prices hovering around $38.28. This price action coincided with a wider cryptocurrency market rebound, as Bitcoin posted gains surpassing 4% during the same timeframe.
HYPE’s trading volume witnessed a substantial 50% increase, climbing to approximately $288 million. This significant uptick in market activity indicates new capital flowing into the token rather than merely existing position reshuffling among current holders.
On April 8, Arthur Hayes, who co-founded BitMEX and currently serves as Chief Investment Officer at Maelstrom family office, announced via X that HYPE represents “the only thing we’re buying right now.” Hayes continues to hold firm on his $150 price forecast for HYPE by August 2026, which translates to approximately a 4x gain 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 primary factor driving his bullish stance. The platform allocates an impressive 97% of its revenue toward repurchasing HYPE tokens directly from the market.
Market Digests Token Release Without Volatility
A scheduled unlock event on April 6 introduced approximately 9.9 million HYPE tokens into circulation, distributed to core contributors. Typically, such unlock events create downward price pressure. However, HYPE maintained price stability, indicating the market had already factored in the increased supply.
The Hyperliquid platform maintains open interest exceeding $2.3 billion. Additionally, the platform has diversified into tokenized real-world assets, including oil futures contracts, which are generating billions in daily trading volume.
Hayes Liquidates Positions in Alternative Tokens
While accumulating HYPE, Hayes has been reducing exposure to other digital assets. Blockchain analytics from Lookonchain and Arkham Intelligence reveal he exited his ETHFI holdings at a 13% loss, after purchasing 265,461 tokens at $0.51 and liquidating at $0.44.
Additionally, he transferred 3.55 million AUKI tokens valued at approximately $19,600 to FlowDesk, signaling a probable sale. AUKI registered a 5% gain over the past day, accompanied by a 91% spike in trading volume.
$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 encounters resistance around the $38 level. Successfully breaking through this barrier could pave the way toward $41.27. Downside support is positioned at $36.38, with a breach potentially driving prices toward the $30 region.
The overall market rally received support from positive regulatory developments in the United States, including ongoing dialogue surrounding a “Reg Crypto” framework and Morgan Stanley’s introduction of a spot Bitcoin ETF product.
Hyperliquid maintains open interest levels above $2.3 billion, while protocol-level token buybacks linked to the HIP-4 fee structure remain active.
