Hyperliquid News Today: Blockchain Fee War Shifts Power to Hyperliquid and BNB-HYPE's $50 Test Looms

Hyperliquid (HYPE) has surged toward its $50 resistance level, sparking mixed signals from technical analysts as traders weigh the potential for a breakout or a reversal. The token's price action has drawn attention amid broader shifts in the blockchain fee landscape, where Hyperliquid and BNB Chain now dominate over Solana, according to a TradingView analysis.

HYPE's price has been coiled within a falling wedge pattern, with a breakout above $41–$42 potentially triggering a 54% rally to $61.5, according to a crypto.news report. The Aroon Up indicator at 71.4% and a rebounding RSI suggest buyers are in control, while CoinGlass data highlights a cluster of short liquidations in the same range. However, bearish divergence looms, as the RSI declines from overbought territory and struggles to confirm bullish momentum despite a MACD crossover near $50.7, per a FXStreet analysis. A failure to hold above $46.35 could see HYPE retest $36–$38, risking a long squeeze if shorts dominate.

The broader blockchain fee war underscores HYPE's rally. Hyperliquid and BNB Chain now command 40% and 20% of major L1 fees, respectively, eclipsing Solana's 9% share. This shift reflects a shift in user preferences toward derivatives trading, which generates higher fees per transaction than memecoin activity, as noted in the TradingView analysis. BNB Chain's integration with Binance's retail ecosystem has further amplified its advantage, while Solana's fading memecoin boom has left it trailing. Analysts warn Solana may need a native dApp or speculative cycle to reclaim relevance, especially if derivatives volumes persist, according to the same TradingView piece.

Toronto-Dominion Bank, meanwhile, faces headwinds as Wall Street Zen downgraded its rating to "sell" in late September, according to a MarketBeat alert. Despite a 2.33% monthly gain outperforming the Finance sector, TD's Zacks Rank remains at 3 (Hold), with a forward P/E of 13.91 trading at a premium to its industry average. Recent executive reshuffles, including the appointment of Taylan Turan as COO and Simon Fish as General Counsel, aim to bolster execution and client experience but may not offset near-term volatility, according to a TD Bank announcement.

Hyperliquid's bullish case is reinforced by on-chain catalysts. A $100 million monthly buyback program and the HIP-3 protocol upgrade have driven $595 million in daily trading volume, signaling institutional confidence, according to a Brave New Coin report. Retail demand also surges via Robinhood's listing, with Nansen data showing expanding whale exposure. However, StefanB's analysis cautions that retracements to $40 or $33 could offer accumulation zones, emphasizing the need for sustained volume above $44–$45 to maintain the uptrend, as noted in the Brave New Coin coverage.

The interplay between blockchain dynamics and traditional banking underscores the market's evolving risk profile. While HYPE's technical setup remains bullish, TD's sell signal and Solana's fee-share decline highlight sector-specific pressures. Investors will closely watch HYPE's $50.7 resistance and TD's December earnings report for directional clues, as the crypto-asset's ability to sustain momentum could redefine its role in the derivatives boom, according to TradingView and FXStreet commentary.