- Hyperliquid (HYPE) token price increased by 12% today.
- Hyperliquid announced that “Staking Tiers” will go live on or after April 30 on the platform.
Hyperliquid has been quiet for some time as the HYPE market chart has been trading sideways. Today, the HYPE token price increased by 12% following an announcement regarding staking on the platform. The platform gained popularity due to the “50x ETH whale” big BTC short position recently.
The HYPE token is trading at $14.93 at press time with a 12.9% price surge today. Its market cap has also increased by 12% while the 24-hour trading volume has risen by 50%. The HYPE token has been going on a downtrend for the past month. It recorded -42.38% and +7.74% in the monthly and weekly price changes respectively.
Hyperliquid to Introduce Staking Tiers From April 30
As per the recent post on its official X account, Hyperlqiuid introduced “Staking Tiers.” This will go live on or after April 30 on the platform. As a result, there will be several changes to the Hyperliquid system, starting with reduced trading fees. Users can benefit from lower perps and spot fees with this new feature.
However, certain features such as market rebates on total maker volume and fee tier combining perps and spot volume will not be changed. Perps and spot trading will have separate fee schedules and spot volume counts double toward users’ fee tiers.
Hyperliquid has been gaining attention for the past few days because of a large volume of trade. A trader called “50x ETH whale” opened a large BTC short position with 40x leverage earlier this week attracting attention from the trader community. It finally closed its trading position yesterday with a profit amidst a weak market.
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