- HYPE token skyrockets to $57, fueled by whale buying activity.
- VanEck’s potential ETF filing raises speculation HYPE could reach $100.
- Hyperliquid’s strong fundamentals and whale activity drive massive price surge.
Hyperliquid’s native token, HYPE, has experienced an extraordinary surge, rising more than 30% over the past month and reaching a new all-time high of $57.34 on September 12, 2025. This strong rally is occurring at a moment when the exchange is not yet a year old, and it is making itself a serious competitor in the decentralized finance field. As rumors were circulating that there could be a spot stake in the ETF filing by VanEck, market analysts are getting increasingly speculative that HYPE may hit $100.
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Whales Fuel HYPE’s Price Surge
According to recent on-chain data, whale activity is driving much of the current price spike. One of the key participants deposited 8 million USDC on Hyperliquid and bought more than 86,000 HYPE tokens, worth $4.88 million, and a large quantity of PUMP tokens. Another whale also purchased a lot of HYPE, acquiring a total of $4.58 million.
This focused purchasing power has helped accommodate the selling pressure around the $50 level. The price of HYPE is moving towards new highs, and speculation is that it might hit the resistance level of $60 in the near future.
Hyperliquid’s Strong Fundamentals Could Support Future Growth
The fundamentals of Hyperliquid provide further support for the bullish outlook on HYPE. The decentralized perpetuals platform has made more than $679 million in revenues since its launch. Also via buybacks, the exchange has already purchased close to 13 million HYPE tokens, which has indicated its determination to make the token more robust.
Moreover, Hyperliquid is in the process of making a native stablecoin, which would lessen the platform’s dependence on third-party issuers such as Tether and Circle and allow it to have a more consistent revenue flow in the long term.
The Risk of a Major Token Unlock
Despite the strong momentum, there are risks ahead for HYPE. Starting in late November, a significant token unlock will release around 10 million HYPE tokens each month from the contributor allocation through 2027.
This supply of new tokens would put pressure on the market in terms of selling pressure since there are 333 million tokens in circulation. Whereas the buyback strategy used by Hyperliquid would help in a portion of this new supply, the magnitude of the unlock is far larger than the prior buybacks, which might result in a rise in volatility in the near future.
Although the HYPE has a bright future, the following token unlock and at least another supply increase may impact the long-term price action. Nevertheless, as the whale activity has triggered the current rally and the platform’s foundation is well established to drive future growth, some analysts think that the HYPE could hit the target of $100 in the near future.
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