The HYPE price has risen 17% in the last 24 hours, from $52 to $61, as traders retreated to the Hyperliquid ecosystem following a major product launch tied to perpetual markets.
The move came just one day after Fomo announced that perpetual trading is now live on its platform, powered by Hyperliquid and Trade.xyz. With the launch, users can access perpetual stock, pre-IPO, crypto, index and commodity contracts from a single application. Timing, as always in markets, could not have been more interesting.
New perpetual markets are generating new interest
On June 11, Fomo revealed that traders can now access a wide range of perpetual products through Hyperliquid’s powered infrastructure. The announcement expanded market access beyond crypto, bringing together multiple asset classes under one trading platform.
That development came just ahead of SpaceX’s highly anticipated IPO, a catalyst that has already generated significant attention on both traditional financial and crypto-native trading platforms.
Naturally, traders looking for pre-IPO exposure and speculative opportunities found another reason to revisit the Hyperliquid ecosystem.
SpaceX Buzz meets hyperliquid momentum
The latest rally did not come out of nowhere. HYPE was already trading within a broader uptrend, and the launch of Fomo added new fuel to an already active market.
Meanwhile, growing interest in SpaceX-related trading products has increased activity on platforms that offer synthetic and perpetual exposure. With shares and pre-IPO perpetuals now available through Fomo, traders have a new opportunity to participate in some of the hottest stories in the market.
For now, the combination appears to be translating into stronger demand for HYPE.
Important levels that traders look at
Despite the sharp recovery, HYPE still has work to do.
The recent rally has pushed the token closer to its all-time high near $75.50. If buying pressure remains intact, a retest of that record level could become the next major target.
On the other hand, the $52 region remains a key support zone. A break below that level would weaken the current bullish structure and potentially expose the token to a deeper move towards the $40 support area.
For now, HYPE price remains firmly in view as traders assess whether the Hyperliquid-fueled launch can maintain enough momentum to challenge the all-time high in the coming sessions.
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