Analysis: HYPE may see up to 55% upside, a16z-linked addresses have accumulated over 90 million dollars in purchases in one month
ChainCatcher reports that the Hyperliquid platform token HYPE is forming a typical "cup and handle" bullish pattern. Analysts believe that if it breaks through the key resistance levels of 45–47 USD, its price could rise to the 71–72 USD range, representing a roughly 55% upside from current levels and setting a new all-time high.
On-chain data indicates that a wallet address considered related to a16z has accumulated about 2.11 million HYPE tokens over the past month, with a total value of approximately 90.87 million USD. The most recent transaction increased holdings by 372 thousand HYPE tokens within three hours, valued at around 16.91 million USD.
Market analysts believe that sustained institutional-level accumulation, coupled with the recent launch of a US spot HYPE ETF, support from a certain exchange and Circle providing USDC infrastructure to Hyperliquid, as well as the potential regulatory benefits of the US "CLARITY Act," are strengthening expectations for Hyperliquid's long-term growth.
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.
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