Hyperliquid’s native token tried to defy the chop over the weekend, briefly touching $40 before retracing back to the $30s. While most of the market has been preoccupied with Bitcoin’s indecision and the carousel of rotating Layer-1 narratives, HYPE – the native token of the on-chain perps powerhouse – has stubbornly tried to reclaim its psychological $40 resistance.
That might not sound dramatic on the surface, but in a week defined by liquidation wicks and reactionary trading, stability is a signal. The market is hunting for assets that demonstrate conviction, and HYPE is doing precisely that. Let’s break down why Hyperliquid’s token remains one of the most closely watched assets right now, and why traders looking for asymmetric upside are drifting towards emerging opportunities to book a few precious X’s, including the newly launched EV2 presale.
Hyperliquid Targets A Reclaim Back To $40
HYPE is currently trading around the $40 region, maintaining support in a tightening range. The standout detail here isn’t just the price – it’s what’s happening beneath the surface. Hyperliquid’s perpetual futures exchange has surged in volume over the past month, while its team has been busy shipping new products and features. Polymarket recently added support for Hyperliquid deposits and withdrawals, bringing the HYPE machine into the orbit of the leading prediction market.
HYPE remains solid around $40 despite broader market dips (Coingecko)
If you strip away the charts and look purely at fundamentals, the story is simple: Hyperliquid is onboarding real traders, not just token speculators. That alone makes HYPE one of the more compelling tokens in this market structure, particularly given that its entire ecosystem is geared around revenue accruing to its native token.
$40 has acted as a structural defense level for HYPE over the last few trading sessions. Every dip below it is quickly absorbed – a sign of persistent demand rather than opportunistic sniping. A close above $42 at week open, opens the path to a retest of the prior local high, and a breakout will induce serious FOMO from latecomers.
EV2 Presale Prepares to Make Web3 Gaming Great
While HYPE consolidates, more adventurous traders are starting to migrate toward fresh narratives and this week’s standout is EV2, now officially in presale. EV2 is a galactic open-world PvX looter shooter game built inside Funtico’s gaming ecosystem. Instead of selling a web3 token and hoping people care, EV2 is engineering something that will give traditional gamers a reason to take a closer look. The blockchain components, while important, are abstracted, allowing players to focus on the lush visuals and engaging alien combat modes.
Players collect tokenized weapons, armor, and starships that have tangible utility. These items matter in-game, affecting your combat abilities and trade value. Early presale participants will be primely positioned to prosper should Funtico score a home run – and given its gaming pedigree, there’s a good chance it delivers a title that will put web3 gaming on the map.
A Wild ICP Appears
If you’re wondering what coin you should be looking at next week, the answer is ICP. DFINITY’s Internet Computer saw an impressive 5% pump over the weekend, posting an impressive 72% gain in the past month. As for the probable catalysts, the growth of its DeFi ecosystem, coupled with rising institutional interest, has been credited with driving the movement of ICP. Whatever they’re cooking up in the DFINITY kitchens, crypto traders are loving the taste.
While it would be inadvisable to chase the pump, the very fact that tokens such as ICP are pulling triple-digit percentage gains in an otherwise moderate week for crypto proves that there are still opportunities for winners and profits to be booked. If you’re a fundamentals rather than a technicals trader, do your research and identify the projects that are currently undervalued while over-delivering. They remain your best prospect of turning a little into a lot.
