TLDR
- HYPE price rose over 5% in 24 hours to around $38.28, with trading volume up 50% to $288 million
- Arthur Hayes, BitMEX co-founder, says HYPE is “the only thing we’re buying right now”
- Hayes has a $150 price target for HYPE by August 2026
- A 9.9 million token unlock on April 6 was absorbed without major selling pressure
- Key resistance sits at $38, with upside toward $41.27 if broken
Hyperliquid’s HYPE token climbed over 5% in the past 24 hours, trading near $38.28. The move came alongside a broader crypto market recovery, with Bitcoin rising more than 4% during the same session.
Trading volume for HYPE jumped 50%, reaching nearly $288 million. That spike in activity suggests fresh buyers entered the market rather than just existing holders moving positions.
Arthur Hayes, co-founder of BitMEX and CIO of family office Maelstrom, posted on X on April 8 that HYPE is “the only thing we’re buying right now.” He has maintained a price target of $150 for HYPE by August 2026, which would represent roughly a 4x increase from current levels.
The only thing we're buying right now is $HYPE
— Arthur Hayes (@CryptoHayes) April 8, 2026
Hayes points to Hyperliquid’s revenue generation as a key reason for his conviction. The platform returns 97% of its revenue to buy back HYPE tokens from the open market.
Token Unlock Absorbed Without Pressure
On April 6, around 9.9 million HYPE tokens were released to core contributors as part of a scheduled unlock. Events like this often trigger selling. In this case, the price held steady, suggesting the market had already priced in the additional supply.
Open interest on the Hyperliquid platform stands above $2.3 billion. The platform has also expanded into tokenized real-world assets, including oil futures, which are recording billions in trading volume.
Hayes Exits Two Other Tokens
While buying HYPE, Hayes has been selling elsewhere. On-chain data from Lookonchain and Arkham Intelligence shows he sold his ETHFI position at a 13% loss, having bought 265,461 tokens at $0.51 and sold at $0.44.
He also moved 3.55 million AUKI tokens worth around $19,600 to FlowDesk, indicating a sale. AUKI rose 5% in the past 24 hours, with trading volume up 91%.
$HYPE looks set for another leg up
Bull flag structure spotted
Ascending structure
Daily bull retest completed at 34.50Problem for bulls: $40.00 weekly resistance
A breakout above, would lead to a push toward 50$+ #HYPE #TradingAlert pic.twitter.com/C5m7o18Alj— đ§ Crypto_Jobsđ§ââď¸ TA & FA đŻ (@CryptoJobs3) April 7, 2026
On the technical side, HYPE faces resistance near $38. A confirmed move above that level could open a path toward $41.27. Support sits at $36.38, and a break below could push the price toward the $30 area.
The broader rally was supported by improving regulatory sentiment in the US, including discussions around a “Reg Crypto” framework and Morgan Stanley’s rollout of a spot Bitcoin ETF.
Hyperliquid’s open interest remains above $2.3 billion, and protocol-level buybacks tied to the HIP-4 fee model continue to operate.
