Hyperliquid (HYPE) Surges 9%... Will it Reach $90 Again Amid Exploding RWA Transactions?

▲ Hyperliquid (HYPE), USD/ChatGPT Generated Image ©

Hyperliquid (HYPE) surged over 9% in a single day, breaking past $85. While Bitcoin (BTC) remained flat, the surge in Real World Asset (RWA) transactions on the Hyperliquid platform fueled expectations for increased protocol fees and token buyback and burning, which were identified as key drivers of the upward trend.

According to CoinMarketCap, a cryptocurrency market data aggregator, on September 18 (local time), Hyperliquid traded at $85.69, up 9.54% over 24 hours, significantly outperforming Bitcoin, which remained flat. The increase in Hyperliquid's real-world asset transaction volume, leading to expanded platform utilization, was cited as the most direct reason for the rise.

According to a related report, the proportion of real-world assets in Hyperliquid's total transaction volume surged from approximately 2% in January 2026 to about 50% by summer. This could lead to an increase in the protocol's fee revenue, and since 97-99% of the fee revenue is used to buy back and burn HYPE tokens, it was evaluated as a positive factor for the token's value. This surge is analyzed to be linked not just to speculative demand but also to an increase in the platform's actual utility.

The rotation in the broader altcoin market also contributed. A risk-on sentiment spread, with many tokens surging over 50% in 24 hours, and HYPE's trading volume also increased by 21%. Technically, buying momentum strengthened as it rebounded from the $76-$78 support zone, which had been tested multiple times last week, and broke through the upper resistance.

In the short term, $82 is considered a key price level to determine the continuation of the uptrend. If HYPE maintains its price above $82, there is a possibility that it will retest the $88-$90 resistance zone, near its September high. Conversely, if it fails to hold $80, profit-taking pressure could increase, risking a pullback to the $76 support level.

Institutional fund flows are also a variable. On September 16, $1.67 million was reportedly flowed into the Grayscale HYPG ETF. The media pointed out that it is important to observe whether real-world asset trading volume remains high and whether the $82 support holds. A daily close above $82 could increase the likelihood of further gains towards $90, but the possibility of profit-taking around $88 was also presented as a short-term risk factor.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.*