HYPE Jumps 20% as Coinbase Move Changes Everything

HYPE jumps 20% after Coinbase becomes Hyperliquid’s official USDC treasury deployer, with price near $45.75.

HYPE moved sharply higher after reports said Coinbase became Hyperliquid official USDC treasury deployer.

The token rose more than 20%, while HYPE/USDT traded near $45.75 on the daily chart.

Coinbase Role Puts Hyperliquid in Focus

Coinbase’s reported role centers on USDC treasury deployment for Hyperliquid.

Market posts said Coinbase would manage about $5 billion in liquidity tied to the network.

The update adds another link between Coinbase, USDC, and Hyperliquid. It also comes as USDC use remains important across crypto exchanges and trading venues.

One post said Coinbase became the “official USDC treasury deployer” for Hyperliquid. That phrase was widely shared as traders reacted to the update.

Hyperliquid is known for on-chain perpetual futures trading. The reported Coinbase role may support deeper stablecoin use across its trading system.

HYPE Price Tests Key Technical Levels

HYPE rose more than 20% after the Coinbase-related update circulated in the market. Some traders also noted a quick move of about 3% within minutes.

On the daily chart, HYPE/USDT traded near $45.75. The pair was also up about 3.64% during the session shown.

Price is now trading between two Fibonacci levels. Support is near $41.78, while resistance is close to $47.34.

The $47.34 level is the nearest area analysed by traders. A daily close above it could bring $50.00 and $52.00 into view.

The broader chart still shows a recovery structure. HYPE previously moved from about $18.21 to $56.34 before a deeper pullback.

That pullback reached the $26.37 area, based on the 0.786 Fibonacci level. Price then recovered and moved back above the mid-range.

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Momentum and Market Drivers Remain in View

The daily RSI was near 62.3 on the chart. That reading shows buyers remain active, but it is not yet overbought.

The MACD also showed a positive setup. The MACD line was above the signal line, and the histogram stayed above zero.

However, the histogram remained small. This shows momentum was positive, but it had not yet expanded strongly.

HYPE tests resistance near $47.34 as momentum improves, source: TradingView.

The Coinbase update arrived as Hyperliquid saw wider market interest. Traders have also watched revenue, buybacks, and platform growth.

HIP-4 prediction markets have become another point of attention. The Clarity Act has also been part of recent crypto market discussion.

For now, HYPE remains focused on the $47.34 resistance area. A break above that level would keep attention on the prior high near $56.34.

The post HYPE Jumps 20% as Coinbase Move Changes Everything appeared first on Live Bitcoin News.