HYPE Price Eyes $172 as Hyperliquid Fees Surge

The price of HYPE has held onto key support levels, preserving its bullish outlook as buyers remain active in the market. The asset's trading volume has surged to $235.1 million over the last 24 hours, with a market capitalization of $15.43 billion. According to Bitcoin Meraklisi, the HYPE price maintains a critical support area, keeping its overall bullish market formation intact despite recent consolidation.

The analysts have identified that any close above the resistance level of $74 on a high timeframe would result in a bullish cup pattern, allowing for a more powerful run towards the price of $172. Conversely, any breach below $58 would weaken the outlook further. Hyperliquid's perpetual futures protocol has been ranked sixth on the list of protocols collecting the most fees daily, with approximately $1.9 million collected over the last day.

This achievement demonstrates the continued expansion of Hyperliquid's reach into decentralized finance, where increased fee generation is indicative of greater user interaction and higher trading volumes. With growing market involvement, the company continues to build on its competitive edge relative to other leading DeFi platforms.