Hyperliquid Price Smashes New ATH: Can HYPE Reach $100 After Kraken Push?

The Hyperliquid price has smashed a new All-Time High (ATH), pushing above $90 as buying momentum accelerates. The breakout comes as Payward, Kraken’s parent company, plans regulated US perpetual futures using Hyperliquid’s infrastructure. Meanwhile, strong derivative activity continues to support the rally. HYPE has entered price discovery after clearing its previous highs near $89.57. With the token now trading in the price discovery phase, attention is shifting toward the $100 psychological level. 

Why Is the Hyperliquid (HYPE) Price Rising?

Hyperliquid’s latest rally gained momentum from several developments across the ecosystem. One fresh catalyst is the launch of manual borrowing, where users can now supply HYPE or Bitcoin as collateral to borrow USDC and USDT directly. Hyperliquid reported $269 million in borrowed assets across the underlying infrastructure. Another development came from NEAR  Protocol, which launched confidential perpetual futures powered by Hyperliquid, where it allows traders to keep their positions and trading details private. 

The regulatory backdrop has also strengthened the narrative. The US SEC granted an innovation exemption for certain tokenised stock trading on decentralised platforms, and this fresh market converge identified as another catalyst for HYPE. Payward’s earlier announcement adds another layer, as it plans to offer US clients on-chain perpetual futures through Hyperliquid’s HIP-3 markets. Together, these developments show Hyperliquid expanding beyond its core perpetual-futures business. 

HYPE Price Breaks $90 as Rising Channel Points Higher

Hyperliquid has broken above its previous record, with the ByBit perpetual contract reaching $91.96. The chart shows HYPE trading around $91.07, up by more than 8% in the past 24 hours. The move keeps the price firmly inside a rising channel that has guided the broader uptrend since late 2025. The breakout comes with solid trading activity, with the daily volume standing near 2.72 million HYPE, showing increased participation during the latest advance. 

Momentum indicators remain constructive as the RSI sits at 65.35, leaving room before reaching the traditional overbought threshold. Besides, the MACD is also flashing a major bullish signal as it shows a drop in selling pressure, with the levels heading for a bullish crossover. The key question now is whether HYPE can hold above the $90 area, keeping focus on the $100 psychological barrier. 

Can Hyperliquid (HYPE) Price Reach $100 This Month?

Hyperliquid has entered price discovery after breaking above its previous highs near $89.60. The next major hurdle is the $100 psychological level. From $91.07, HYPE would need to gain about 9.8% to reach $100. If the price clears $100, the market enters a new price zone where $110 and $120 could become the next upside milestones. A failure to sustain the breakout could instead send HYPE back toward the $85 to $88 range.