Hype Breaks All-Time High Near $90 Amid Broader Crypto Recovery

Hype (HYPE) has reached a new all-time high near $89.60 on September 6, extending its advance as Hyperliquid recorded substantial trading activity and the wider crypto market moved higher across major assets.

The previous high of $86.71 is now the closest support level for HYPE, and holding this area would keep the breakout intact. If the token fails to hold above this level, it will be a concern for investors.

Trading fees create direct demand for HYPE as Hyperliquid's trading business has generated more than $1.2 billion in cumulative trading fees by July. The Assistance Fund uses its allocation of fees to purchase HYPE automatically and burn the acquired tokens, reducing both circulating and total supply.

The US access remains a possibility, but it is not an approval yet. President Donald Trump's comment on Hyperliquid's potential entry into the US market has been cited by the company, but no application or registration has been granted or pending before the CFTC.