HYPE Token Surges 13% After Binance US Listing Announcement

Binance US has announced its plans to list the HYPE token from Hyperliquid, a move that has significantly boosted the token's price. Following the announcement, HYPE experienced a 13% increase, reflecting strong market sentiment and investor interest. This development comes on the heels of Binance Futures introducing a new high-leverage derivative product tied to HYPE, further amplifying the bullish outlook for the token.

The HYPE token, which powers the Hyperliquid derivatives exchange, has shown remarkable momentum in recent days. The token's price surged to $37.48, marking a 12.56% increase within a 24-hour period. The price range for the day fluctuated between $33.05 and $37.77, indicating a robust demand following the listing announcement. This price action is part of a broader uptrend that began in early April, with HYPE hitting a local bottom of $9.30 on April 7. Since then, the token has climbed steadily, reaching a new all-time high of $39.68 on May 26. Despite a modest correction, HYPE has maintained a strong bullish structure, consistently forming higher highs and higher lows.

Technically, the HYPE token's setup remains highly favorable for bulls. The token has stayed above its 20-day exponential moving average since April, indicating a sustained uptrend. On the 12-hour chart, the price structure reveals a clear cup-and-handle pattern, a classic bullish continuation signal. The handle, formed by the recent pullback, tested and held support around the $28.40 level, previously a major resistance, before the latest rally resumed. Momentum indicators also support the current bullish outlook. The Relative Strength Index (RSI) has climbed to 68, approaching the overbought zone and nearing a potential golden cross. The Moving Average Convergence Divergence (MACD) is showing signs of shifting back into bullish territory, with the histogram bars shrinking and the MACD line on the verge of crossing above the signal line, which often precedes further upward movement.

Fundamentally, Hyperliquid continues to dominate the decentralized derivatives exchange space. With over 81% market share in the DEX derivatives sector, the protocol remains the leading platform for perpetual futures trading. In the last 24 hours alone, Hyperliquid processed $6.495 billion in perpetuals volume on its proprietary Layer 1 network. This commanding position lends strong support to the token’s market value and investor confidence. At present, HYPE ranks #11 among all cryptocurrencies by market cap, valued at approximately $12.52 billion. The circulating supply stands at 333.9 million tokens out of a total max supply of 1 billion. The token continues to gain attention, now appearing on over 105,000 watchlists—a reflection of its growing popularity among traders and investors alike.

With the upcoming Binance US listing acting as a major catalyst, HYPE is poised to potentially break past its current all-time high. If momentum continues to build, a decisive move above $40 could usher in a new phase of price discovery. For now, all eyes remain on Hyperliquid as the market watches whether the token can capitalize on its momentum and push into uncharted territory.