TLDR
- HYPE is trading near $59.37, marking a second consecutive day of gains with bulls targeting $60.00.
- A whale withdrew 57,000 HYPE tokens worth $3.36 million from Coinbase, signaling accumulation.
- Hyperliquid Policy Center wrote to the SEC pushing for a pre-IPO futures trading framework.
- Derivatives volume rose 18.98% to $1.74 billion, with short liquidations doubling long liquidations.
- Key resistance sits at $62.48, with $68.00 as the next medium-term level if bulls break through.
Hyperliquid’s native token HYPE is holding above $59.00 on Tuesday, extending a two-day winning streak as buyers return to the market.
The token is currently trading near $59.37, sitting above its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The MACD indicator has turned positive, and the RSI is sitting near 56, pointing to steady upward momentum.
A newly created wallet pulled 57,000 HYPE tokens, worth $3.36 million, out of Coinbase. Moving tokens off exchanges typically reduces immediately available supply, which traders often read as a bullish accumulation signal.
However, HYPE also recorded a net exchange inflow of $3.38 million in the spot market. That means more tokens entered exchanges than left overall, creating some supply pressure that offsets the whale withdrawal.
Derivatives Activity Heats Up
Trading volume in HYPE derivatives jumped 18.98% to $1.74 billion. Open Interest rose 0.73% to $2.54 billion, while options volume surged 174.12% to $2.09 million.
The 24-hour Long/Short Ratio dipped to 0.9689, meaning short positions slightly outnumber longs. Short liquidations totaled $1.14 million over 24 hours, nearly double the $599,760 in long liquidations, giving buyers the edge.
Breaking: Hyperliquid Strategies is surging after Stan Druckenmiller's Family Office disclosed a new $23,150,000 stake in the company as of Q2$PURR has added ~$66,700,000 in market cap today pic.twitter.com/w8fp3JoNCb
— Autopilot (@joinautopilot) August 17, 2026
Analyst Bluntz, posting on X, noted that HYPE had spent 86 days moving sideways, with both sides of the range swept and reclaimed. He also pointed out that investor Stanley Druckenmiller recently put $23 million into HYPE via PURR, calling the setup favorable.
hype looking good here imo, 86 days of sideways, both sides of the range swept and also reclaimed, plus druckenmiller just dropped $23M in $hype via $purr pic.twitter.com/3csZRp074X
— Bluntz (@Bluntz_Capital) August 18, 2026
Hyperliquid Pushes the SEC on Pre-IPO Futures
Hyperliquid Policy Center and trade[XYZ] filed a joint comment letter to the US Securities and Exchange Commission (SEC). The letter responds to the SEC’s open call for ideas to modernize the IPO process.
The filing highlights five completed pre-IPO perpetual (IPOP) market cycles on Hyperliquid and outlines five areas the SEC would need to address: instrument classification, issuer disclosure, listing guardrails, market integrity, and onshore access for all investors.
Hyperliquid argues American investors missed out on pre-IPO price signals, citing SpaceX as an example, which was priced at $135 before listing at $150.
HYPE defended the $53.67 support zone and has since reclaimed $57.10. The next key resistance is $62.48. A break above that level could bring $68.00 into view. If sellers return, $57.10 and $53.67 are the levels to watch on the downside.
