Hyperliquid's HYPE token price surged over 10.5%, breaking through $35, driven mainly by a surge in platform derivatives trading volume. Within 24 hours, HYPE's trading volume jumped from $21 million to over $1.2 billion, as traders used its oil perpetual contracts for macro hedging. Technical indicators show a strong bullish momentum, and analysts expect that if the token can hold the key resistance level, it may break through $100.