Key Insights
- Hyperliquid crypto faced a critical $75 support test as HYPE traded near $77.
- Pump.fun generated $1.98 million in daily revenue, narrowly surpassing Hyperliquid’s $1.96 million.
- Grayscale’s HYPE holdings and renewed exchange competition added another dimension to the token’s outlook.
Hyperliquid crypto faced renewed pressure near $77 on Oct. 25 as traders monitored its $75 support level. The HYPE token struggled to regain momentum after retreating from September highs.
Meanwhile, Pump.fun briefly overtook Hyperliquid in daily protocol revenue, intensifying competition across decentralized trading platforms.
CoinW historical data showed HYPE closing near $77.07 on Oct. 25. The token had traded above $80 earlier in the week before sellers regained control. The latest price action placed technical support, trading revenue, and institutional holdings under closer scrutiny.
Hyperliquid Crypto Faces $75 Support as HYPE Price Struggles
The HYPE price remained under pressure after failing to sustain its earlier recovery above $80. CoinCodex historical data showed HYPE closing near $80.57 on Oct. 21. By Oct. 24, its closing price had fallen to approximately $76.66.
The retreat represented a decline of roughly 4.9% over three days. Crypto analyst Altcoin Sherpa highlighted uncertainty around the $75 level in a comment shared on X. He described HYPE’s recent performance as relatively weak despite maintaining a favorable longer-term assessment.
For Hyperliquid crypto, the $75 region emerged as an immediate technical reference after repeated tests. CoinCodex recorded an Oct. 24 low near $74.64, suggesting buyers had already defended the surrounding area.
A sustained move below $75 could expose the $70 region if selling pressure continued. Conversely, reclaiming $80 could shift attention toward the $82 resistance area. However, these levels represent potential trading scenarios rather than confirmed price targets.
Hyperliquid Crypto Revenue Falls Behind Pump.fun in Daily Race
Competition added another concern as Pump.fun briefly overtook Hyperliquid in daily protocol revenue. DefiLlama’s Oct. 24 revenue rankings showed Pump generating approximately $1.98 million over 24 hours.
Hyperliquid recorded around $1.96 million during the same reporting period. The $20,000 difference gave Pump.fun a narrow lead in that snapshot, although the ranking remained subject to daily fluctuations.
The comparison highlighted two different sources of decentralized finance activity. Pump.fun generated revenue from token launches, trading services, and related platform fees. Hyperliquid primarily generated revenue from perpetual futures trading, spot activity, and other protocol operations.
However, Hyperliquid crypto maintained a modest advantage across the seven-day period in the same dataset. Its weekly revenue reached approximately $14.64 million, compared with Pump.fun’s $14.48 million.
That difference suggested the daily reversal had not established a sustained leadership shift. DefiLlama also distinguished protocol revenue from total trading fees, highlighting the importance of the accounting method.
For traders, the revenue comparison offered insight into platform activity rather than a direct forecast for HYPE.
Grayscale Holdings Add Another Factor to Hyperliquid Crypto Outlook
Institutional exposure remained another consideration amid the token’s recent weakness. Crypto commentator Dami-Defi claimed Grayscale’s HYPE fund held approximately 2.29 million tokens.
The commentator also suggested that nearly 89% of those holdings had entered staking. However, Grayscale’s independently accessible fund disclosure supported an earlier, slightly different position.
Grayscale’s official fund data showed approximately 2.18 million HYPE tokens as of Sept. 25. The asset manager reported that 90.83% of those tokens participated in staking.
The distinction matters because staking reduces immediately liquid holdings without guaranteeing higher market prices. Meanwhile, Hyperliquid crypto faced competition from other perpetual trading platforms seeking additional market share.
Aster attracted attention after the Money Ape highlighted its token activity and trading platform development. However, the available commentary did not establish that Aster had materially reduced Hyperliquid’s trading activity.
For the HYPE token, the immediate question remained whether buyers could defend the $75 region. A recovery above $80 could support another test of $82. Losing $75 could instead increase downside exposure toward $70.
Disclaimer: This article provides information, not financial advice. Cryptocurrency markets are highly volatile and carry a substantial risk of loss. Readers should conduct independent research before investing.
