- HYPE gains momentum as USDGO launches on the Hyperliquid, Plume and Aptos platforms.
- Whale activity and an upcoming token unlock are driving short-term market momentum.
- Key HYPE support sits at $28.98, with immediate resistance levels at $35.03 and $39.87.
Hyperliquid (HYPE) has seen notable improvement in its trading performance, helped in part by the announcement that Paxos selected Hyperliquid along with Plume and Aptos as primary networks for the launch of its USDGO stablecoin.
At the time of publication, HYPE was up 3.3% over the past 24 hours, outperforming the broader crypto market’s modest 0.49% gain.
Paxos rolls out USDGO on key networks
According to a recent press release, Plume, Hyperliquid and Aptos were chosen as the inaugural networks for USDGO deployment, reflecting their rapid growth and strategic importance.
Plume, with more than 280,000 active real-asset holders and $645 million in RWA TVL, will serve as a distribution hub for relevant liquidity.
Hyperliquid will integrate USDGO into its continuous trading and lending markets, strengthening collateral rails and trading capabilities aligned with yield strategies.
Additionally, Aptos will be the first network to deploy a Move-based OFT stablecoin, positioning enterprise applications to leverage regulated, high-performance liquidity.
Paxos’ USDGO is an omnichain extension of its regulated USDG stablecoin, designed to deliver fully backed, compliant liquidity across multiple blockchain networks.
Using LayerZero’s omnichain-fungible token (OFT) standard, USDGO enables seamless cross-chain transfers while maintaining a 1:1 backing with cash, short-term U.S. Treasury bills and cash equivalents.
Specifically, USDGO integration between these networks is supported by a USDGO portal, cross-chain APIs and a unified supply mechanism to facilitate smooth transfers and reduce the risks associated with fragmented bridge mechanisms.
Early adoption in these specialized ecosystems is expected to lay the groundwork for broader multi-chain expansion.
Whale activity and token unlock shape near-term market dynamics
Hyperliquid has also been in the spotlight ahead of a significant HYPE token cliff unlock valued at roughly $314–$316 million, representing about 2.66–3.6% of the total supply.
Scheduled for release on November 29, the cliff unlock has drawn attention from the crypto community, sparking debate over potential selling pressure and its market impact.
LATEST: ⚡ Hyperliquid will release $314 million worth of HYPE tokens on Saturday in a cliff unlock, with BitMEX co-founder Arthur Hayes cautioning that the event could introduce unavoidable selling pressure. pic.twitter.com/iVH28nb2oZ
— CoinMarketCap (@CoinMarketCap) November 24, 2025
Despite the looming unlock, whales have been accumulating HYPE, which has boosted investor confidence.
One prominent whale increased a long position by $44.5 million in ETH, signaling confidence in broader market conditions and potentially affecting HYPE trading volumes.
Price targets and outlook for HYPE
Technical analysis highlights several key levels traders should watch in the coming days.
To sustain upward momentum, HYPE needs to hold above $28.98, with the first major resistance at $35.03.
If HYPE breaks above $35.03, analysts note that it could climb toward $39.87, with a further resistance barrier near $43.82.
Options data also indicate limited downside around the $28 area, offering some confidence ahead of the token unlock.
However, failure to maintain the $28.98 support—particularly after the upcoming token release—could push prices down to the next key support near $25.85.