Three Things to Know
- A Hyperliquid treasury company has asked US regulators to let a subsidiary act as a futures broker for HIP-3 markets.
- AAVE momentum has turned up while HYPE still shows sellers in control.
- HYPE's first support near $76 now stands between the token and a test of its 200-day average.
Hyperliquid Strategies, the Nasdaq-listed company that holds a large slice of HYPE supply, wants a US futures license. Its subsidiary filed with the CFTC to serve American traders on HIP-3 markets.
The filing could widen US access to Hyperliquid, though approval may take months. Traders now face a split market. HYPE keeps sliding after a rough week, while AAVE shows early signs of a turn.
Hyperliquid's Treasury Firm Seeks a US Futures License
Hyperliquid Strategies, the Nasdaq-listed treasury company trading as PURR, reported net income of $620.6 million for the quarter ended Sept. 30. Most of that profit came from $803 million in unrealized gains on its HYPE holdings. In other words, the result reflects token prices more than operating cash.
The bigger news sits in a subsidiary. HypeStrat Markets has applied to the CFTC to register as a futures commission merchant for HIP-3 markets. Approval is pending. COO Jeroen Nieuwkoop called the effort early-stage and said it could take "maybe three, four, five, or six months."
Executive David Schamis said the goal is a neutral FCM serving US Hyperliquid customers. He put the build cost in the single-digit millions. The company has not said which asset US clients would use for margin or settlement.
PURR holds 38.5 million HYPE, about 16.1% of supply. It spent $785 million on 9.1 million tokens last quarter and keeps $254.6 million in cash with no debt. Protocol buybacks have retired another 48.3 million HYPE for $1.4 billion. Demand looks cooler elsewhere, though. US Hyperliquid ETFs saw a $3.0 million net outflow on Nov. 5.
HYPE Floor Stands Between the Token and Its 200-Day Average
Hyperliquid (HYPE) daily price with the nearest support (green) and resistance (red). Source: TradingView
HYPE traded near $79 on Thursday, up about 1% on the day. That small bounce does little to repair the damage. The token is still down about 12% over the week and roughly 10% over the past month.
The moving averages tell a split story. HYPE sits below its 50-day average near $82, which now acts as a ceiling. It remains well above its 200-day average around $69.50, so the longer uptrend is intact.
Momentum leans the same way. RSI, a 0 to 100 gauge of momentum, reads 44. That puts sellers slightly in charge without pushing the token into oversold territory. Trend gauges still point down, and a seller-led move is starting to form.
On the daily chart, the first floor sits near $76.20. Buyers have defended that area so far. A close below it would open room toward the 200-day average, the next real test for the broader trend.
Bulls have work to do on the upside. The first hurdle is near $82.60, just above the 50-day line. A clean break there would point to the next resistance around $84.60. Holding above both would suggest buyers have taken back control of the short-term trend.
The futures filing does not change this setup yet. Executives gave a timeline of several months, and the regulator has set no date. For now, traders are reacting to price, and price says sellers still hold the edge.
That leaves the first floor as the line that matters this week. Holding it keeps the pullback orderly. Losing it would shift attention to the 200-day average.
AAVE Momentum Turns Up Before Its Price Does
Aave (AAVE) daily price with the nearest support (green) and resistance (red). Source: TradingView
Aave traded near $132 on Thursday, flat on the day. The token has had a rough month, falling about 24%. This week it has edged up roughly 2%, a small gain that hints sellers may be running out of fuel.
The price now sits between two key averages. The 50-day line near $140 acts as a ceiling overhead. The 200-day average around $127 sits below and has held as a floor. AAVE is squeezed between the two, waiting for a direction.
RSI reads 43, close to where HYPE sits. That still points to mild seller control. The difference shows up in the MACD trend gauge, which has turned up on AAVE. HYPE has not made that turn yet. Momentum often shifts before price does, so this is an early hint.
A real breakout needs a close above $141. That move would also clear the 50-day zone and flip it from a ceiling into a floor. Above that, the next resistance waits near $160.
On the daily chart, support sits near $121. Buyers need to hold that level to keep the base intact. A break below it would remove the safety net and expose a much deeper drop toward $92.88.
Which Way Do the Next Three Days Break?
- Bullish: HYPE reclaims $82.61 and AAVE posts a daily close above its breakout level near the 50-day line. That would confirm AAVE's momentum turn and give HYPE a path toward its next ceiling. The view fails if HYPE loses its first floor or AAVE drops through its own support.
- Bearish: HYPE breaks support and slides toward the 200-day average, while AAVE sinks back to support. A HYPE recovery above its first hurdle would cancel this scenario.
Patience Pays More Than Prediction Here
AAVE holds the better short-term setup. Its momentum has already turned, and a close above the 50-day line would confirm it. HYPE needs to defend support before buyers can talk about a rebound.
The risks lean on HYPE. A delayed or denied CFTC approval would sting. Further ETF outflows could also drag on HYPE and on wider DeFi sentiment.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: Crypto Daily