HYPE Falls 20% After Hyperliquid Treasury News Disappoints

Key Notes

• Technical analysis suggests potential support at $38.13 for HYPE price, with further declines possible in the $27-$31 range if this level fails.
• Nasdaq-listed Eyenovia (EYEN) has announced a $50 million allocation to build a HYPE treasury.
• Lion Group Holding Ltd.
• (Nasdaq: LGHL) secured a $600 million facility from ATW Partners to launch its HYPE Treasury initiative.

After facing rejection above $45, Hyperliquid

HYPE $38.09

24h volatility: 2.9%

Market cap: $12.72 B

Vol. 24h: $452.09 M

price has come under strong selling pressure while correcting nearly 20% from its all-time highs. In the last 24 hours, HYPE has corrected by an additional 7%, taking a dip all the way under $38. This HYPE selling pressure comes despite a Nasdaq-listed firm announcing a 1-million Hyperliquid Treasury earlier this week.

As per the technical chart pattern, the HYPE price gave a decisive breakout from its descending chart pattern, triggering a solid upside all the way from $17 to $45, clocking a massive 170% gain in a short period. Furthermore, as per the Fibonacci retracement levels, Hyperliquid could form a strong support at $38.13, falling to hold can lead to a further drop in the $27-$31 range.

It seems that after a massive rally, there’s some profit-booking by the bulls at this stage.

Nasdaq-Listed Firm to Build Hyperliquid Treasury

Eyenovia (Nasdaq: EYEN) has announced a groundbreaking move by allocating $50 million to establish a crypto reserve in $HYPE, the native token of the Hyperliquid blockchain. This decision marks a significant milestone, making Eyenovia the first publicly traded US company to incorporate $HYPE into its treasury strategy.

The company’s decision underscores the growing institutional interest in emerging blockchain ecosystems as part of diversified asset management.

In a similar development, Lion Group Holding Ltd (NASDAQ: LGHL) announced that it has secured a $600 million funding facility from ATW Partners. The capital will support the company’s launch of its HYPE Treasury and broader on-chain initiatives.

To ensure the security and optimization of its digital asset holdings, LGHL has partnered with BitGo, a leading provider of digital asset infrastructure solutions.

Related article: HYPE Hits New ATH with 10% Surge, Bigger Correction Ahead?Decentralized trading platform Hyperliquid gained massive popularity recently, with James Wynn executing his billion-dollar trades for Bitcoin

BTC $104 926

24h volatility: 0.6%

Market cap: $2.09 T

Vol. 24h: $28.89 B

, swiftly on the platform. The DEX demand grew to an extent that it surpassed even Ethereum and Solana in gas revenue.

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