HYPE has real revenue, sustained buying pressure, independent narratives, and its own market trends.
It is not the kind of coin that relies solely on imagination to pump, but rather an asset that has successfully navigated the chain from trading demand → transaction fees → protocol revenue → buyback/accumulation. Recently, the market has been unstable, and many altcoins shatter upon impact, but HYPE is merely oscillating at a high level, clearly more resilient to downturns; this is not luck, but capital voting with its feet.
The only real risk point to watch in the short term is the unlock on April 6.
This unlock is approximately 9,920,000 HYPE, which at recent prices roughly corresponds to nearly 400 million dollars in volume, belonging to the release of core contributors' shares, and the market will definitely be paying attention. However, precisely because everyone knows this, it has become the most critical 'strength test.'
My judgment is: if after the unlocking on April 6, HYPE does not drop, or only briefly dips and is quickly picked back up, then I will continue to increase my position.
Because this usually indicates 4 things:
1. Selling pressure has been caught by real buying.
It’s not just talk about being bullish, but actually using real money to buy the chips. Unlocking is the most real test of selling pressure; not dropping is strong in itself.
2. The market is starting to accept its 'revenue-generating asset' pricing logic.
Hyperliquid's protocol income in the past 30 days is about $60.37 million, with an annualized income running rate of about $737 million, and cumulative income has exceeded $1 billion. This is not empty talk, but a protocol that is already continuously printing money.
3. The repurchase/accumulation flywheel is still turning.
Public information shows that Hyperliquid's Assistance Fund will long-term use the vast majority of protocol income to buy HYPE in the market, forming sustained demand. As long as this flywheel is not broken, the new supply brought by unlocking is not a one-way bearish situation, but a game between 'increased supply vs continuous buying'.
4. It is really moving independently and not just following BTC.
Recently, HYPE has clearly outperformed mainstream coins in a weak market. Since 2026, HYPE has risen about 60%, while Bitcoin has dropped about 20% and Ethereum about 28% during the same period; in the market pullback on March 28, HYPE's daily decline was also significantly less than BTC. This relative strength often indicates that funds do not regard it as an ordinary altcoin.
The number one decentralized exchange, and everyone can participate in the HLP casino, which is a great narrative. HLP has a long-term annualized return of 15%-30%, and if you are also bullish on HYPE, then we are good friends.$HYPE
