The HYPE token surpasses a major threshold before its IPO
Hyperliquid shakes the crypto market with a spectacular increase of 11.91%. This surge comes as the company unveils ambitious plans: a Nasdaq IPO and a $1 billion fundraising. Institutional investors are closely monitoring this project that aims to become a bridge between decentralized finance and traditional markets.
In brief
- Hyperliquid’s price jumps 11.91% and crosses the 200-day simple moving average at $39.02.
- Hyperliquid Strategies Inc. files an S-1 with the SEC to raise up to $1 billion via 160 million shares.
- The merger between Sonnet BioTherapeutics and Rorschach I LLC creates a crypto management company listed on Nasdaq.
- Funds will be used to develop the ecosystem and accumulate HYPE tokens through buybacks and staking.
Hyperliquid breaks a crucial resistance
The HYPE token has just crossed a crucial psychological threshold. After regaining the 61.8% Fibonacci level ($35.84), it now breaks the 200-day moving average, a technical signal that experienced traders have been watching for weeks.
This performance occurs in a particular context: the platform recently activated its HIP-3 upgrade on October 13, now allowing any developer to create perpetual markets without prior authorization.
Volumes are exploding, revealing strong institutional demand. “Whales” are massively accumulating leveraged long positions. This buying frenzy is not random. It anticipates a major event that could redefine Hyperliquid’s position in the crypto ecosystem.
The next obstacle is at $41.76. A clear breakthrough of this resistance would validate a long-term bullish reversal. For now, the momentum remains favorable. Technical indicators converge toward a continued rally, notably supported by sustained volumes and constant buying pressure.
Hyperliquid’s market capitalization now reaches $11.4 billion. This impressive figure places the project among the major players in decentralized finance. Analysts note that this valuation remains justified given ongoing developments.
A groundbreaking bridge between DeFi and traditional finance
The origin of this surge? An explosive S-1 filing with the U.S. SEC . Hyperliquid Strategies Inc., born from the merger between Sonnet BioTherapeutics (listed on Nasdaq) and Rorschach I LLC, aims to raise up to $1 billion.
The issuance plans 160 million shares, a large-scale operation that reflects institutional investor confidence.
The raised funds will finance the expansion of the Hyperliquid ecosystem and the strategic accumulation of HYPE tokens. A substantial part will be allocated to token buybacks on the secondary market, mechanically creating additional buying pressure. The rest will feed staking operations, thus reducing the circulating supply available.
This “treasury management” strategy echoes that adopted by MicroStrategy for Bitcoin. It aims to transform Hyperliquid into an institutional investment vehicle listed on the stock exchange.
Traditional fund managers will thus gain regulated exposure to DeFi without directly managing crypto portfolios.
The open interest on HYPE derivatives markets now exceeds $2 billion. This record level illustrates growing confidence in the platform. Yet, this meteoric rise is not without risks.
The crash of October 11, 2025 caused over $10.3 billion in liquidations , even surpassing Binance and Bybit. These turbulences revealed certain technical flaws that still fuel concerns.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin’s Sharp Decline: What Causes the Price Swings?
- Bitcoin dropped 32% in late 2025, falling from $126,300 to below $86,000 amid macroeconomic pressures and regulatory uncertainty. - Fed rate cut expectations and stalled CLARITY Act legislation fueled investor panic, while 3.1% inflation and disrupted employment data worsened risk-off sentiment. - Institutional buyers accumulated 18,700 BTC in November, contrasting retail-driven selloffs, as Fear & Greed Index signaled extreme bearishness before partial recovery. - Market analysts highlight the need to b

Bitcoin Updates: Altcoin Momentum Faces Resistance from Wall Street’s Bitcoin-Linked Structured Products
- Animoca Brands plans 2026 U.S. IPO, shifting focus to altcoins and real-world asset tokenization to attract traditional investors. - Tom Lee revised Bitcoin forecast to $100,000 by year-end, citing market volatility and macroeconomic risks after October's $19B liquidation event. - JPMorgan launched Bitcoin-linked structured notes via BlackRock ETF, reflecting Wall Street's growing acceptance of crypto as a long-term asset class. - Industry trends highlight altcoin diversification, with Animoca's co-found

ZEC Surges 701.51% This Year as Grayscale Files for Zcash ETF and Institutional Demand Increases
- Grayscale filed an S-3 registration with the SEC to convert its Zcash Trust into the first U.S. spot ETF for privacy-focused ZEC, signaling growing institutional adoption. - Zcash's shielded transactions now account for 30% of trades, with 20-25% of its supply stored in encrypted addresses, highlighting demand for privacy-enhanced crypto. - ZEC surged 701.51% year-to-date in 2025 but fell 13.26% weekly, reflecting crypto market volatility despite outperforming Bitcoin and Ethereum . - The pending ETF app

Zcash News Today: Crypto’s Schism: Doubt in L1s Contrasted with Growth at the Application Layer
- QwQiao critiques speculative L1 tokens (e.g., Bitcoin , Ethereum) for scalability issues and volatile valuations, contrasting them with utility-driven application-layer innovations. - Application-layer projects like DeFi, NFTs, and privacy-focused Zcash (ZEC) gain traction via real-world use cases, exemplified by Grayscale's ZEC ETF and Bitcoin Munari's structured token sales. - Dynamic tokenomics and institutional adoption (e.g., Ripple's RLUSD approval) highlight shifting priorities toward sustainable

