HYPE price held steady at its highest level since October last year as the crypto market rallied and as 21Shares made a minor update to its Hyperliquid token ETF. It has now jumped by over 110% from its lowest level this year. 21Shares updates its HYPE ETF filing In a filing to the Securities and Exchange Commission (SEC), 21Shares announced that its HYPE ETF will have the ticker symbol of THYP. The filing did not have the fees the company will charge, and according to Eric Balchunas, it was likely because of the SEC comment and feedback. https://twitter.com/JSeyff/status/2044166860912886160 This filing came after Bitwise unveiled its HYPE ETF fees and ticker symbol. It will charge customers a 0.67% fee, making it one of the most expensive funds in the market. The details of this filing mean that the listing of these ETFs is nearing. These filings come at a time when Hyperliquid is firing on all cylinders as demand for its services rise. For example, data compiled by DeFi Llama shows that the network’s volume in the last 30 days stood at over $193 billion. Aster the second-biggest name in the industry, had $65 billion, while edgeX and Lighter handled over $65 billion and $71 billion in volume, respectively. Hyperliquid’s volume has soared during the ongoing war because of its popularity among crude oil futures traders. The same growth is happening in its stablecoin growth, with data showing that Hype EVM has a stablecoin supply of $1.8 billion. Its stablecoin volume in the last 30 days was over $9 billion. Data compiled by TokenTerminal shows that Hyperliquid’s fee growth has continued growing in the past few months. Hyperliquid generated over $880 million in fees in the last 365 days, a notable achievement for a company with just 11 employees. It has made over $51 million in the last 30 days, with all priority fees in the network being incinerated. Still, the main risk for the HYPE ETF is that there will be no demand, as other top altcoins have demonstrated. For example, the recently launched Polkadot ETF has not had a day of inflows. Other top altcoins ETFs like Litecoin, Dogecoin, and Avalanche have not had any inflows since their approvals. Instead, investors have largely opted to buy Bitcoin, Ethereum, XRP, and Solana ETFs. The other major catalyst for the HYPE price is the upcoming launch of Outcomes, which is its prediction platform. This launch will make it a direct competitor to popular networks like Polymarket and Kalshi. HYPE price technical analysis Hyperliquid token chart | Source: TradingView The daily chart shows that the HYPE price has been in a strong rally in the past few months. It has jumped from a low of $20 in January to the current $43. The coin has formed a series of higher highs and higher lows. A closer look shows that it crossed briefly the important resistance level at $43.6, its highest level on March 18. Moving above that level was notable as it invalidated the forming double-top pattern. The coin has remained above the 50-day and 100-day Exponential Moving Averages (EMA). It also remains above the Supertrend indicator, a sign that bulls are in control. Therefore, the path of the least resistance for the HYPE token is highly bullish, with the next key target being the psychological level at $50 . Moving above that level will push it to its all-time high of $60, which is about 35% above the current level. The post HYPE price prediction as 21Shares updates its Hyperliquid ETF filing appeared first on Invezz
