The native token of decentralized exchange Hyperliquid (HYPE) reached a new all-time high at $89.92, entering the top 10 largest cryptocurrencies with a market capitalization of $22.61 billion. Daily trading volume exceeds $1.58 billion, confirming the strength of the bullish move. According to technical analyst Aksel Kibar of Tech Charts, a classic breakout pullback and continuation scenario is playing out on the daily chart, with a medium-term target at $100.5 and a support level at $76.6. Long-term demand is driven by the protocol’s deflationary model, which automatically burns nearly 99% of DEX trading fees.
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