HYPE price has surged 17% in the past 24 hours, climbing from $52 to $61 as traders rushed back into the Hyperliquid ecosystem following a major product launch tied to perpetual markets.
The move arrived just one day after Fomo announced that perpetual trading is now live on its platform, powered by Hyperliquid and Trade.xyz. The launch allows users to access equity, pre-IPO, crypto, index, and commodity perpetual contracts from a single application. Timing, as always in markets, couldn’t have been more interesting.
New Perpetual Markets Spark Fresh Interest
On June 11, Fomo revealed that traders can now access a broad range of perpetual products through its Hyperliquid-powered infrastructure. The announcement expanded market access beyond crypto, bringing together multiple asset classes under one trading venue.
That development landed right before the highly anticipated SpaceX IPO, a catalyst that has already generated significant attention across both traditional finance and crypto-native trading platforms.
Naturally, traders looking for pre-IPO exposure and speculative opportunities found another reason to revisit the Hyperliquid ecosystem.
SpaceX Buzz Meets Hyperliquid Momentum
The latest rally didn’t appear out of nowhere. HYPE has already been trading within a broader uptrend, and the Fomo launch added fresh fuel to an already active market.
Meanwhile, growing interest around SpaceX-related trading products has increased activity across platforms offering synthetic and perpetual exposure. With equity and pre-IPO perpetuals now available through Fomo, traders gained another avenue to participate in some of the market’s hottest narratives.
For now, the combination appears to be translating into stronger demand for HYPE.
Key Levels Traders Are Watching
Despite the sharp recovery, HYPE still has work to do.
The recent rally has pushed the token closer to its all-time high near $75.50. If buying pressure remains intact, a retest of that record level could become the next major objective.
On the downside, the $52 region remains an important support zone. A break below that level would weaken the current bullish structure and potentially expose the token to a deeper move toward the $40 support area.
For now, HYPE price remains firmly in focus as traders assess whether the Hyperliquid-powered launch can sustain enough momentum to challenge the all-time high in the sessions ahead.