Key Insights:
- Hyperliquid price climbed 6% after launching a U.S. policy center, boosting visibility around decentralized derivatives and regulatory engagement efforts.
- Network TVL dropped from $4.7 billion to $4.2 billion, while weekly revenue declined 55%, reflecting softer ecosystem activity levels.
- A 9.92 million HYPE token unlock worth $291 million approaches, adding near-term supply pressure despite recent market rebound momentum.
Hyperliquid price climbed more than 6% during Asian trading hours on Friday, rising to around $29.23 after the project unveiled a new policy initiative in Washington. The rebound followed weeks of weakness that kept the token under sustained selling pressure. Moreover, the move drew attention as the broader crypto market struggled to regain firm footing.
The exchange confirmed the launch of the Hyperliquid Policy Center, a nonprofit focused on regulatory clarity for decentralized finance and on-chain derivatives. Additionally, the Hyper Foundation committed 1 million HYPE tokens, valued near $29 million, to support the initiative’s operations. The announcement placed Hyperliquid among the few decentralized platforms actively engaging with policymakers in the United States.
Exposure Boosts Visibility
The advocacy effort increases the project’s visibility within regulatory circles and the wider digital asset industry. Consequently, traders responded quickly, pushing prices higher after the announcement reached the market. However, price gains remained capped as technical resistance levels continued to limit upward momentum.
Despite the rally, on-chain data reflects softer network activity in recent weeks. According to DeFiLlama, total value locked on Hyperliquid declined from $4.7 billion to $4.2 billion. Significantly, weekly protocol revenue fell 55% to $11.83 million since early February, highlighting slower engagement across the ecosystem.
Token Unlock Adds Supply Pressure
Traders also monitor a scheduled token unlock set for March 6. The release involves 9.92 million HYPE tokens worth roughly $291 million, representing 2.72% of the circulating supply. Additionally, large unlock events often increase short-term supply in the market, which can weigh on price action.
Source: TradingView
On the daily chart, HYPE continues to trade below a descending trendline that has capped rallies since early February. Moreover, the token remains more than 25% below its yearly high of $37.84, reflecting broader market caution. The Aroon indicator shows strong downward pressure, while the Relative Strength Index stays below neutral territory, signaling weak momentum.
Price support currently stands near $28, which aligns with the 38.2% Fibonacci retracement level. Consequently, buyers may attempt to defend this area to sustain the recent rebound. A break below this level could open the path toward the $21 zone, which marks the next notable technical support.
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