Hyperliquid is showing a stronger price surge as its current market rally still has room to run. According to data shared today by the market observer, HYPE continues to hold above its key support zone around $74-$76, signaling stronger bullish momentum. The asset rose to a fresh climb of $83.27 on Sunday, August 24, showcasing its recent uptick. The asset surpassed its previous high of $67 reached on May 30.
The rally pushed its market cap above $20.54 billion, making it one of the top-performing assets in the crypto market. The uptrend is happening as investors continue to enter the Hyperliquid market, strongly believing in its potential in the decentralized perpetual trading sector.
Factors Contributing to Hyperliquid’s Price Uptrend
HYPE’s recent price upswing coincides with Bitcoin’s stabilization following last week’s US Treasury bond buyback initiative, which triggered a wider crypto market rally. Bitcoin reclaimed above $75,000, while leading altcoins such as ETH and SOL registered 27.4% and 25.3% gains over the past week, respectively, showing renewed investor confidence in the broader digital asset market.
HYPE’s new high has also been catalyzed by enthusiasm following President Trump’s announcement that US regulators are making preparations to bring Hyperliquid, a recognized overseas perpetual futures trading platform, to the United States. Last week on Thursday, August 20, President Trump revealed that the CFTC is handling legal matters to enable Hyperliquid to offer its perpetual DEX trading services to US customers in a compliant manner. Following the announcement, HYPE spiked 22%, suggesting upcoming regulatory acceptance for crypto derivatives platforms that have been operating outside the US. Trump’s remarks came amid significant commitments to create clearer legal structures for crypto asset trading avenues in the US.
Lastly, HYPE’s recent move to a new record is a clear indicator of rising institutional interest in the Hyperliquid ecosystem. On Saturday, MarketBeat released data showing that institutional investors are substantially expanding their exposure to Hyperliquid Strategies, a US-listed crypto treasury firm. Data indicated that institutional ownership has climbed 9.45% from last year, with an additional 43 institutional buyers registered on the investment vehicle so far.
 
This trend shows growing institutional enthusiasm for regulated investment funds as a way to invest in the Hyperliquid blockchain and its flagship crypto asset, HYPE. The rise in institutional investment aligns with the market’s significant recovery, as demonstrated by HYPE’s surge to a new record of $83.27 on Sunday. Today, the asset trades at $79.10 and is up 34.1% and 34.0% over the past week and 30 days, reflecting institutional demand fueling its price uptick.
HYPE Opens to Reach New Unmatched Level
According to the analyst, HYPE has held above its $74-$76 key support zone, as buyers continue to enter the market with heavy token accumulation. According to the analyst’s projection, defending this support region keeps the asset’s bullish formation alive. The asset’s ability to hold the key support could trigger the next bullish move towards a new peak at the $90-$100 level (driven by rising buying momentum), the analyst stated.
