Hyperliquid's HYPE Nears $35 as Oil Perps Volume Tops $1.4B and Margin System Upgrades

Hyperliquid's HYPE token spiked toward an intraday peak close to $35 as oil perpetual trading volume climbed above $1.4 billion on the derivatives platform. At the same time, a new portfolio margin framework was introduced to improve capital efficiency and risk control, while HYPE holds around a 5% daily gain and roughly 120% growth over the past year. Key technical focus levels now sit near resistance at $35.28 and support at $32.50, with further downside zones around $30 and $28.50.