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<h3>Fireline Report</h3>
<p>HYPE was listed on Robinhood's spot trading platform, attracting whale to build nearly $40 million in long positions, with the stock surging over 12% in 24 hours. Hyperliquid Strategies filed an S-1, seeking to raise $1 billion to purchase HYPE tokens, and continued institutional capital inflows.</p>
<h3>Trading Guide</h3>
<p>HYPE has sufficient momentum for short-term upward movement. If the support at 0.038 is effective, you can try to buy with a light position. If it falls back but does not break, gradually increase your position. Set the stop loss at 0.035, and take profit in batches at 0.042-0.045. Quick entry and exit is suitable for an aggressive style<span class="source"><a href="fx://followin.io/Feed?id=20989564"><img src="https://static.fwimg.io/img/user/c9dd4e40d21ce65a91f98a6c487c859c.jpg" width="20" height="20" /></a><a href="fx://followin.io/Feed?id=21006562"><img src="https://static.fwimg.io/img/user/cfa94f5d1d4f924794bafb2d2a86ac9f.jpg" width="20" height="20" /></a></span>.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-24 12:54</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>Analysis of HYPE Robinhood&#39;s launch and $1 billion fundraising</h1><h2> TL;DR</h2><p> HYPE successfully listed on Robinhood on October 23, 2025. On the same day, Hyperliquid Strategies Inc. filed its S-1 with the SEC, planning to raise <strong>$1 billion</strong> (not $100 million). These two positive developments pushed the price above $40, a 10% increase. Technical analysis suggests strong short-term bullish momentum, and the protocol&#39;s fundamentals are excellent (with $4.7 billion TVL and market leadership in the perpetual DEX market). However, there are concerns about the team token unlocking in November.</p><h2> Core Analysis</h2><h3> Impact of Robinhood&#39;s launch</h3><p> <strong>Listing details</strong> : Robinhood officially launched HYPE spot trading on October 23, 2025, opening access to millions of American retail investors. After the announcement of <a href="https://cryptorank.io/news/feed/55116-hype-soars-beyond-40-following-robinhood-listing-whats-next-for-hyperliquids-price">CryptoRank&#39;s</a> listing, HYPE&#39;s price immediately soared 9-10%, breaking through the $40 mark, the first <a href="https://thedefiant.io/news/cefi/robinhood-adds-hype-for-spot-trading">time</a> since mid-October.</p><p> <strong>Market reaction</strong> : 24-hour trading volume surged 15% to approximately $700 million, showing strong liquidity injection and mainstream adoption signals. <a href="https://coingape.com/robinhood-lists-hype-as-hyperliquid-flips-aster-lighter-in-perp-dex-volume">Coingape</a> whales reopened long positions, with as many as 70% of whales turning bullish. <a href="https://cryptorank.io/news/feed/f8d12-hype-broke-above-40-on-robinhood-listing">Cryptorank</a></p><h3> US$1 billion fundraising plan</h3><p> <strong>S-1 filing details</strong> : Hyperliquid Strategies Inc. filed an S-1 form with the SEC on October 23rd, planning to raise <strong>up to $1 billion</strong> by issuing 160 million shares of common stock. The company currently holds approximately 12.6 million HYPE tokens (valued at approximately $470 million) and $305 million <a href="https://cryptorank.io/news/feed/55116-hype-soars-beyond-40-following-robinhood-listing-whats-next-for-hyperliquids-price">in</a> cash reserves.</p><p> <strong>Use of Funds</strong> : Net proceeds from the offering will be used for general corporate operations, enhancing the liquidity provision on the Hyperliquid DEX, and selectively accumulating HYPE tokens to strengthen the ecosystem treasury.</p><h3> Technical Analysis</h3><table><thead><tr><th> Timeframe</th><th> trend</th><th> RSI</th><th> MACD</th><th> Key Levels</th><th> Signal</th></tr></thead><tbody><tr><td> 1 hour</td><td> Bullish</td><td> 60</td><td> Bearish histogram (-0.07)</td><td> $40.65 (Bollinger Band upper limit)</td><td> 🟢 Momentum is above EMA and close to the upper Bollinger Band</td></tr><tr><td> 4 hours</td><td> Bullish</td><td> 62</td><td> Bullish histogram (+0.44)</td><td> $40.65 (Bollinger Band upper limit)</td><td> 🟢 Strong histogram expansion, price above moving average</td></tr><tr><td> Daily Line</td><td> neutral</td><td> 47</td><td> Bullish histogram (+0.34)</td><td> $48.05 (Bollinger Band upper limit)</td><td> 🟡 Recovery mode, below EMA26 but histogram turns positive</td></tr></tbody></table><p> <strong>Key price</strong> :</p><ul><li> <strong>Support</strong> : $39.00 (medium strength), $38.00 (strong support, important liquidation cluster)</li><li> <strong>Resistance</strong> : $41.00 (strong resistance, EMA26 daily line confluence), $48.00 (medium resistance, Bollinger Band upper daily line)</li></ul><p> <strong>Derivatives data</strong> : Open interest rose 11.61% to $1.63 billion, and funding rates were slightly higher (0.00125%-0.01%), indicating moderate bullish sentiment but no signs of overheating. <reference tool_id="call_99102455" category="heatmap" project="HYPE" description="HYPE OI USD and 24h change percent by exchange at 2025-10-24 01:45 UTC"/></p><h3> Protocol fundamentals analysis</h3><p> <strong>TVL performance</strong> : The current TVL is US$4.71 billion, ranking among the top three perpetual DEXs. <reference tool_id="call_88544172" category="bar_tvl" project="Hyperliquid" description="Hyperliquid protocol TVL from 2025-01-06 to 2025-10-20" item_id="2779471b-52d8-4a09-84a0-449c962ca727"/> The peak in Q3 2025 reached US$6.35 billion, showing strong growth momentum.</p><p> <strong>Income indicators</strong> :</p><ul><li> 24-hour cost: $4.26 million; revenue: $3.97 million</li><li> Monthly revenue: $114.6 million ($1.24 billion annualized)</li><li> Total costs: $721 million; Total revenue: $675 million </li></ul><p><reference tool_id="call_70466724" category="bar_fees" project="Hyperliquid" description="Hyperliquid protocol fees and revenue from 2025-01-06 to 2025-10-20" item_id="10e945e9-92b9-4fa7-a262-51e0475419d9"/></p><p> <strong>Trading volume advantage</strong> : 24-hour trading volume is US$292.7 million, monthly trading volume is US$15.68 billion, and it occupies 70-80% market share in perpetual DEX. <reference tool_id="call_44473802" category="bar_volume" project="Hyperliquid" description="Hyperliquid protocol DEX volume from 2025-01-06 to 2025-10-20" item_id="ad7baf56-ddb4-4892-99f8-c10208dc528e"/></p><h3> Token Economics</h3><p> <strong>Supply structure</strong> :</p><ul><li> Total supply: 1 billion HYPE</li><li> Circulating Supply: 373.1 million HYPE (37.3%)</li><li> Current market capitalization: $10.84 billion</li><li> Fully diluted valuation: Approximately $40 billion</li></ul><p> <strong>Unlocking risk</strong> : Core Contributor Tokens (238 million, 23.8%) will begin to be unlocked in November 2025 (after a 1-year lock-up period), followed by a linear release over the next 24 months, at approximately 10 million tokens per month. <reference tool_id="call_95682814" category="mix_bar_line_liquidation" project="HYPE" description="HYPE liquidation risk map by price level and exchange (1d period) at 2025-10-24 01:45 UTC"/></p><h2> Social sentiment analysis</h2><p> <strong>Key Opinion</strong> : Paradigm co-founder Matt Huang sees Hyperliquid&#39;s 2025 revenue surge as a key evolution in crypto infrastructure, similar to Solana&#39;s early L1 boom. Maelstrom Fund predicts a valuation of $5.2 trillion by 2028, based on stablecoin adoption and fee generation in high-volume markets.</p><p> <strong>Competitive Advantage</strong> : The community ranks Hyperliquid #1 among perpetual DEXs, ahead of GMX (9th) and dYdX (10th), primarily based on superior liquidity depth, on-chain transparency, and censorship resistance.</p><h2> Market Outlook</h2><h3> Bullish factors</h3><ol><li> <strong>Institutionalization Accelerates</strong> : Robinhood Launches to Bridge CeFi and DeFi, Raising $1 Billion in Funds Demonstrates Institutional Confidence</li><li> <strong>Obvious technical advantages</strong> : self-built L1 chain, 100,000 orders/second processing capacity, sub-second confirmation</li><li> <strong>Robust revenue model</strong> : $1.24 billion in annual revenue, 70% of which is used for token buybacks to support value</li><li> <strong>Leading market share</strong> : Dominates the perpetual DEX space with a deep moat</li></ol><h3> Risk factors</h3><ol><li> <strong>Unlocking pressure</strong> : Large-scale token unlocking will begin in November, with potential selling pressure of approximately $5 million per month</li><li> <strong>High valuation</strong> : FDV&#39;s $40 billion valuation is a premium compared to similar projects</li><li> <strong>Intensified competition</strong> : Rivals such as Aster and Lighter are growing rapidly</li><li> <strong>Market volatility</strong> : Technical indicators suggest a short-term pullback to the $38 support level is possible</li></ol><h3> Price Target</h3><ul><li> <strong>Short-term (1-3 months)</strong> : $41-48 range, the key is to break through the $41 resistance</li><li> <strong>Medium term (3-6 months)</strong> : If fundamentals continue to improve, target $60 (previous high)</li><li> <strong>Long term (6-12 months)</strong> : Depends on the unlocking and digestion situation and the overall market environment</li></ul><h2> in conclusion</h2><p> HYPE&#39;s Robinhood listing and $1 billion fundraising plan have laid a solid foundation for its long-term growth, and short-term technicals suggest a healthy bullish structure. Despite the pressure of token unlocking, the protocol&#39;s strong fundamentals and market leadership support its potential for value growth. Investors should watch for a break above the key resistance level of $41 to confirm continued upward momentum, while remaining vigilant to potential short-term volatility from the November unlocking event.</p>
