Hyperliquid (HYPE) surged to an all-time high of $84.80 with a market cap nearing $19 billion after activating AQAv2 on Aug 26, which routes about 90% of yield from $6.74 billion in USDC reserves into buybacks (roughly $182 million/year at a 3% yield), coinciding with renewed spot ETF inflows and CFTC regulatory engagement. Technicals point to a next target of $92.37 (1.272 extension) with $68 as the key support, but an impending $1.2 billion token unlock on Aug 29 and below‑January volume create short-term dilution and liquidity risks for price and DeFi adoption.

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In Brief

Hyperliquid hit a record $84.80 on Thursday, extending a 35% weekly rally.
A new buyback engine routes 90% of USDC reserve yield into HYPE.
The 1.272 Fibonacci extension at $92.37 marks the next technical target.

Hyperliquid (HYPE) climbed to an all-time high of $84.80 on Thursday, its second record in seven days. The altcoin trades near $84.07, up nearly 4% today, with its market cap nearing $19 billion.

The rally cleared the old $77 ceiling last week and has since held that level as support. Weekly and daily charts now point to $92 as the next resistance band.

Buybacks and a Regulatory Nod Fuel the Rally

Hyperliquid activated its AQAv2 reserve yield program on August 26. Roughly 90% of the cost-adjusted yield on $6.74 billion in USDC deposits now funds HYPE buybacks.

Hyperliquid Officially Activates "AQAv2" to Buy Back and Burn HYPE with USDC Reserve YieldHyperliquid announced the activation of its "AQAv2 (Aligned Quote Asset v2)" framework starting August 26, which directs yield generated from USDC reserves toward programmatic market… pic.twitter.com/3Np1YerhyX
— Wu Blockchain (@WuBlockchain) August 26, 2026

Under a 3% yield scenario, that adds about $182 million a year. The figure represents an 18% lift on current revenue of roughly $2.76 million per day. First distributions land Oct. 3.

Regulation supplied the second leg. President Donald Trump said on Aug. 20 that Hyperliquid could be available in the US soon, with the CFTC already working on a compliant pathway.

On Wall Street, spot HYPE exchange-traded funds have meanwhile logged renewed inflows, and the token leads its top 10 peers this month.

Weekly Chart Confirms the $77 Breakout

The weekly candle that broke $77 gained roughly 40%. This week HYPE dipped to $76.75, retested the old record, then reversed higher.

Before that move, the price bounced off an ascending trendline three times. The third touch in early August landed on the 0.618 Fibonacci level at $55.41.

HYPE weekly chart. Source: TradingView

Weekly RSI has reclaimed 70. A similar reading in mid-May preceded a rally of about 100% into the previous record. A repeat would target the 1.618 Fibonacci extension at $111.93. Volume, however, remains well below January levels.

HYPE Price Prediction After the All-Time High

The daily chart flipped to a bullish Supertrend on Aug. 19. That signal holds while HYPE stays above $68.

Volume expanded during the breakout between Aug. 21 and Aug. 25. Volatility reached 100% for several days after sitting at 0% on Aug. 12, and has since cooled to about 40%.

HYPE daily chart. Source: TradingView

The 1.272 Fibonacci extension at $92.37 is the next target, roughly 10% above the spot price. The nearest risk is Hyperliquid’s $1.2 billion token unlock on August 29, with another due a month later.

Altcoin trad ers should watch $68 as the make-or-break price point for HYPE. A daily close below this level would end the bullish structure.

Read the article at BeInCrypto