Hyperliquid (HYPE) Token Price Increased by 12% Today

Latest Updates

• Hyperliquid announced that “Staking Tiers” will go live on or after April 30 on the platform.

Hyperliquid has been quiet for some time, with the HYPE market chart trading sideways. However, today, the HYPE token price surged by 12% following the staking announcement. The platform gained attention due to the “50x ETH whale,” who took a significant BTC short position recently.

Current Market Status

• HYPE token trading price: $14.93
• Price surge: 12.9% today
• Market cap increase: 12%
• 24-hour trading volume: up by 50%

The HYPE token has been on a downtrend over the past month, recording a -42.38% change and a +7.74% change in the weekly price.

Staking Tiers Introduction

According to a recent post on its official X account, Hyperliquid will introduce “Staking Tiers” effective from April 30. This feature will lead to reduced trading fees, providing users with lower costs on perpetuals and spot trades.

Certain features, including market rebates based on total maker volume and fee tier combinations of perpetuals and spot volume, will remain unchanged. Perpetual and spot trading will have distinct fee schedules, with spot volume contributing double towards users’ fee tiers.

Hyperliquid has drawn attention recently due to a significant volume of trades, particularly from a trader dubbed “50x ETH whale,” who opened a substantial BTC short position at 40x leverage earlier this week and subsequently closed it with a profit amidst a weak market.