Hyperliquid (HYPE) Surges Past $40 as Robinhood Listing Sparks Whale Activity – What’s Next?

• Why Did HYPE Suddenly Spike Above $40?
• Whales Bet Big on HYPE’s Comeback Story
• Exchange Wars: Who’s Backing HYPE?
• The Fragile Floor: Can HYPE Hold $34?
• FAQs: Your HYPE Questions Answered

Hyperliquid’s native token HYPE has staged a dramatic rebound, climbing above $40 after its surprise listing on Robinhood. The move signals renewed confidence from whales, with open interest skyrocketing to $1.4B and long positions dominating trades. But with Binance and Coinbase still on the sidelines, and liquidation risks looming at $34, is this rally built to last? We break down the charts, whale movements, and market dynamics shaping HYPE’s volatile trajectory.

Why Did HYPE Suddenly Spike Above $40?

The catalyst came on October 23, 2025, when Robinhood quietly added a HYPE landing page before confirming the listing on X (formerly Twitter). Within hours, the token jumped 5% to $40.12 – reclaiming a psychological threshold that had crumbled during September’s market-wide slump. Trading volumes remain modest at $800M, but the Robinhood effect could amplify retail participation. Interestingly, Bybit has emerged as HYPE’s dominant marketplace, handling over 60% of derivatives volume according to CoinGecko data.

Whales Bet Big on HYPE’s Comeback Story

Open interest tells the tale: after bottoming at $1.12B, HYPE derivatives surged to $1.4B as whales repositioned. Hyperliquid’s internal data shows longs claiming 69.35% of trades – a stark contrast to the 60% average on other platforms. One anonymous trader locked in $1.15M unrealized profit via a 5x Leveraged long, though $30K in fees highlight the risks. Not everyone’s convinced; a counterbalancing $52.73M short position suggests brewing contention. "This smells like a classic whale vs. whale showdown," noted a BTCC analyst. "The liquidation heatmap shows $5M in longs could evaporate if HYPE retests $34."

Exchange Wars: Who’s Backing HYPE?

Robinhood’s neutral stance contrasts with Binance’s hesitation and Coinbase’s regulatory cold feet. Meanwhile, Hyperliquid’s DEX dominance persists with $7.64B total open interest ($2.71B in BTC pairs). Still, that’s 50% below its 2024 peak – a gap HYPE’s team aims to close through staking perks and ecosystem incentives. "We’re seeing institutions treat Hyperliquid as a sentiment barometer," said TradingView contributor Markus Carter. "When whales zig here, the market often zags."

The Fragile Floor: Can HYPE Hold $34?

Technical analysis reveals precarious support. The $32 level nearly collapsed in September, with bears eyeing $20. While HYPE has defied broader market weakness, its reliance on leveraged positions creates vulnerability. The token’s 24-hour funding rate of 0.01% on BTCC suggests traders aren’t overextending – yet. As one Reddit user quipped: "This isn’t investing; it’s extreme sports with charts."

FAQs: Your HYPE Questions Answered

What caused HYPE’s price surge?

The Robinhood listing on October 23, 2025 triggered immediate 5% gains, amplified by whale accumulation and Hyperliquid’s expanding ecosystem utilities.

Which exchanges support HYPE trading?

Bybit dominates volumes, Robinhood enables retail access, while Binance and Coinbase remain cautious due to regulatory concerns.

How risky are HYPE leveraged positions?

Extremely. The $34 liquidation zone threatens $5M in longs, and historical volatility suggests 30%+ swings are common.