Hyperliquid Price Surges 10% After $1 Billion Equity Offering Filing with SEC

The Hyperliquid price surged 10% in the last 24 hours to trade at $38.11 on a 9% increase in daily trading volume to $12 billion.

This price jump comes after Hyperliquid Strategies filed with the U.S. Securities and Exchange Commission (SEC) to raise $1 billion through a new equity offering. The funds will help strengthen the company’s balance sheet and support more purchases of HYPE tokens.

According to the filing, Hyperliquid will issue up to 160 million shares through a deal with Chardan Capital Markets. The company was formed through a merger between Sonnet BioTherapeutics and Rorschach I LLC, and it plans to list on Nasdaq later this year under a new ticker.

The firm currently holds 12.6 million HYPE tokens and $305 million in cash, which it plans to use mainly for staking to earn steady returns. The company’s leadership will include former Barclays CEO Bob Diamond as chairman and David Schamis as CEO.

The HYPE token has gained about 7% in the past 24 hours, outperforming the broader crypto market, which dropped slightly. Analysts say the rise comes from new network upgrades and institutional products like Bitwise’s proposed Hyperliquid ETF. The recent HIP-3 network update also improved flexibility for developers, boosting investor confidence in the Hyperliquid ecosystem.

Hyperliquid Price Could Rebound After Holding Key Support

Hyperliquid (HYPE) may be getting ready for a bounce after touching a strong support area near $32. The price has risen about 4% in the past 24 hours to trade around $37.67, showing early signs of recovery.

The chart shows that HYPE has been moving between $32 and $60 for several weeks. After failing to break above the $60 resistance, the token dropped back to the support zone that has previously stopped price falls. This area remains a vital level where buyers could push the price higher again.

HYPEUSDT Analysis Source: Tradingview

The Relative Strength Index (RSI) is around 42, meaning HYPE is neither overbought nor oversold. This gives the token room to rise if buying pressure increases. If HYPE can stay above $40, it could climb toward the $50 level.

However, if the price falls below $32, the next support could be around $28, which might lead to more losses. Traders are watching this zone closely to see if it holds.

For now, the market is at a turning point. If buyers defend the $32 level, HYPE could start a short-term recovery. But if sellers take control, the downtrend might continue.