Hyperliquid (HYPE) has made headlines this week as it defies a bearish trend in the broader cryptocurrency market, rebounding from a support zone between $78 and $80 to touch approximately $91.50. The token’s resurgence has reignited interest in its previous all-time high near $98, particularly following recent developments in its strategic partnerships.
Recent news of a partnership between the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, and Hyperliquid has been a significant catalyst for this upward momentum. The collaboration aims to establish a regulated U.S. market for 24/7 perpetual futures built on the Hyperliquid platform. Analysts have noted a 16% surge in HYPE within the first five hours of the announcement, signaling strong market confidence.
According to industry insights, ICE will oversee the regulated exchange and clearing infrastructure, while a partner, Trade [XYZ], will develop the perpetual futures markets. Hyperliquid will provide the underlying blockchain technology through its HIP-3 framework, enabling third parties to launch permissionless perpetual futures markets.
In addition to the ICE partnership, a recent report from Grayscale highlighted that Coinbase passes along 90% of the interest earned on approximately $6 billion in USDC deposits to Hyperliquid. This arrangement began in May, allowing Hyperliquid to benefit from a steady income stream generated through U.S. Treasury bills, with payments arriving monthly.
Hyperliquid’s financial health appears solid, having reported an income of around $105 million in September, roughly equivalent to the same month the previous year. Notably, trading fees accounted for 64% of this revenue, a decline from over 90% in mid-2025, as external firms began listing futures on commodities such as silver and oil.
In a proactive move to manage its token economy, Hyperliquid recently executed a significant burn of 72,530 HYPE, valued at $6.75 million, within a 24-hour period. This buyback fund is part of a broader strategy to maintain token value and reduce supply, with 99% of Hyperliquid’s fee revenue allocated to buy and burn HYPE tokens.
As the market reacts to these developments, analysts are closely watching key resistance levels for HYPE, which are set at $96 to $98. The token’s recent price action has also reclaimed its pivot at $88.03, indicating a potential bullish trend. The Relative Strength Index (RSI) is currently above its signal average, suggesting that while there is room for growth, HYPE has not yet entered overbought territory.
With trading volume on the rise following recent bullish activity, traders are keeping an eye on support levels at $88.03 and $78.08, with a significant demand zone identified between $72 and $74. A successful breakout above $94 could pave the way for HYPE to approach the coveted $100 mark, while a rejection near $98 to $101 may trigger a pullback below $90.
Looking ahead, the anticipated $16 million in AQAv2 revenue expected in early November could further bolster HYPE’s position in the market. As of the latest updates, HYPE is trading at around $91.50, reflecting a slight decline of 1.65% on the day, yet remains a focal point for traders eager to capitalize on its recent gains.
