In this Elliott Wave analysis, we examine HYPE and the significance of the $87 resistance level. Video by More Crypto Online.
The native token of Hyperliquid, HYPE, is trading strongly between $82.00 and $84.50, closely consolidating near its all-time high of $86.71 reached late last month.
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Insights Today
-ETF Inclusion: On September 3, HYPE achieved a landmark milestone by being added to Hashdex’s NCIQ crypto index ETF with a 3.4% weighting. This places HYPE as the fund's fifth-largest holding (behind heavyweights like Bitcoin and Solana), providing unprecedented exposure to institutional capital.
-$2.5 Billion Equity Expansion: Hyperliquid Strategies expanded its corporate equity purchase agreement with Chardan Capital Markets from $1 billion to $2.5 billion. This massive facility increases their capacity to absorb dips and aggressively purchase HYPE tokens off the open market.
-Fee-Funded Buybacks: Hyperliquid's native design allocates 97% to 99% of all protocol fees directly into an automated buyback engine. Over $1.27 billion has been processed through this engine since launch, continuously stripping supply out of public circulation.
-HIP-4 Infrastructure Launch: Volume has nearly tripled following the permissionless opening of HIP-4 outcome/prediction markets to external venues like Outcome and Skew. This rapidly expanding ecosystem utility is adding a secondary fundamental layer to the token's demand.
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