Hyperliquid (HYPE) Skyrockets: Bybit Listing and Grayscale Backing Fuel Explosive Demand

Hyperliquid (HYPE) isn’t just climbing—it’s mooning. A surprise Bybit listing and Grayscale’s stamp of approval sent the token into overdrive, leaving traders scrambling to catch the wave.

Why the frenzy? Institutional validation meets retail FOMO. Grayscale’s nod signals big-money interest, while Bybit’s platform hands leverage-hungry degens the keys to the casino. The result? A classic crypto pump—only this time with a veneer of legitimacy.

But let’s not kid ourselves. This is crypto, where ‘fundamentals’ often mean ‘who’s shilling hardest.’ Still, with liquidity deepening and hype (ironically) building, HYPE might just defy gravity—until the next shiny object distracts the crowd.

TLDR

• HYPE trades at $40.90, just 12% below its all-time high of $45.80
• Bybit announced spot trading listing with deposits opening at 3:00 AM UTC
• Grayscale included HYPE in its Q3 2025 assets under consideration list
• Assistance Fund completed $2.64 million buyback on July 10
• Token shows ascending triangle pattern with potential $50 target

Hyperliquid’s native token HYPE continues to hover near key resistance levels as multiple catalysts align to support its price action. The token currently trades at $40.90, representing a 5.22% gain over the past 24 hours.

The digital asset sits just 12% below its all-time high of $45.80 reached on June 16. After weeks of sideways movement, HYPE has begun showing signs of renewed momentum as bulls attempt to reclaim higher levels.

Trading volume has surged to $421.8 million in the past 24 hours, marking a 40.2% increase that reflects growing trader activity. This volume spike comes as the token approaches its previous peak, with only a 2.2% gap remaining.

Technical analysis reveals HYPE has formed an ascending triangle pattern just below its all-time highs. This structure typically signals bullish continuation, with the token respecting rising trendline support while repeatedly testing the $41 to $42 resistance zone.

After 8 full weeks of consolidation at ATHs

Hyperliquid looks good to go for the 50s

> Hype chatter diminished a lot
> Phantom integration is huge, the infra provider narrative is great
> Has been the leader of alts for the last months, no reason to stop pic.twitter.com/Rc548PbLEk

— gum (@0xGumshoe) July 9, 2025

The measured MOVE from this triangle formation could extend well into the $50 zone if bulls successfully break above current resistance levels. However, bears continue to defend the critical $42 area, creating a battleground for market participants.

Bybit Listing Provides Exchange Support

Bybit, a leading centralized cryptocurrency exchange, announced HYPE’s listing on its spot trading platform today. The exchange confirmed deposits will open at 3:00 AM UTC, followed by official trading at 9:00 AM UTC.

📣 $HYPE is officially listed on BybitSpot with @HyperliquidX!

🌐 Learn more with Lens: https://t.co/xJw2I6Xloy
📈 Trade now: https://t.co/awMtO5oM48 pic.twitter.com/u8yYIypnEC

— Bybit (@Bybit_Official) July 11, 2025

Withdrawals for HYPE will become available starting at 10:00 AM UTC. This listing provides additional liquidity and accessibility for traders looking to enter or exit positions.

The exchange listing comes at a crucial time as HYPE battles key resistance levels. Additional trading venues often provide the volume needed for decisive price moves.

Grayscale’s decision to include HYPE in its Q3 2025 assets under consideration list has further boosted institutional interest. This inclusion signals recognition of the token’s growth potential among professional investors.

The institutional backing could attract additional capital flows, supporting HYPE’s legitimacy and future adoption prospects. Such recognition often precedes increased institutional investment in digital assets.

Assistance Fund Provides Buyback Support

The Assistance Fund stepped in with a $2.64 million buyback of HYPE tokens on July 10. This represents one of the largest single-day injections recorded to date.

Market participants are discussing the possibility of a $10 million buyback day on the horizon. Such substantial support provides a cushion against potential selling pressure.

The buyback activity reduces the likelihood of a clean breakdown below current support levels. It demonstrates institutional commitment to maintaining token value during critical technical junctures.

Bulls view this support as crucial for defending the $39 to $40 area if any pullback occurs. The fund’s activity adds an important LAYER of price stability during volatile periods.

Hyperliquid’s platform fundamentals continue supporting token performance. The DeFi protocol has captured 60% of the perpetual trading market share, establishing clear dominance in its sector.

Daily revenue from the platform has consistently exceeded both ethereum and Solana over the past three months. This revenue generation provides underlying value for the HYPE token.

Recent integration with Phantom wallet has expanded the platform’s reach and accessibility. Such developments support long-term growth prospects for both the protocol and its native token.

Analysts warn that failure to break above $42 could signal a lower high formation. Technical indicators suggest potential downside toward the $28 to $30 region if momentum fades.

The current supply region NEAR $42 has proven stubborn, with price action stalling after recent rally attempts. Bears defending this level could force a retest of lower support zones.

However, the ascending triangle pattern remains intact, providing bulls with a clear technical setup for potential breakout attempts.