Top decentralized finance (DeFi) tokens like Hyperliquid (CRYPTO: HYPE) and Uniswap (CRYPTO: UNI) have jumped in the past few weeks as demand from investors has continued to rise.
HYPE token has jumped by 78% in the last 30 days and is hovering near its all-time high, with its market capitalization rising to over $23 billion. UNI has soared by 142% in this period and is now trading at its highest level since November last year.
Other popular DeFi tokens like Raydium, Lighter, PancakeSwap, and Aerodrome Finance have continued to rise this month.
SEC Amends Tokenized Stock Trading Rules
HYPE and UNI tokens jumped after the SEC issued an order granting temporary, conditional exemptive relief to tokenized securities venues (TSV) to trade tokenized National Market System (NMS) stock using automated market makers and liquidity pools.
The agency noted that the innovation exemption marked an important milestone to open the capital markets for tokenized securities. This is important because Uniswap and Hyperliquid have become big players in the Real World Asset (RWA) tokenization industry. Top companies like Coinbase (NASDAQ:COIN) and Robinhood Markets (NASDAQ:HOOD) are also top beneficiaries of this change.
Tokenized stocks have become highly popular among traders, especially during the recent crypto winter when Bitcoin and most altcoins were in a strong sell-off. However, they have come under criticism from some of the top players in the US. For example, AMC Entertainment’s (NYSE:AMC) CEO, Adam Aron, has criticized tokenized stocks for not being real assets.
The announcement came at a time when their volume and futures open interest have continued rising. HYPE’s surge also came at a time when Hyperliquid is considering entering the US, a move that Donald Trump and the CFTC support. Hyperliquid’s perpetual trading volume jumped to over $240 billion in the last 30 days.
HYPE Price Rally is Accelerating
The daily chart shows that the HYPE token has been in a strong surge, moving from a low of $20.3 in January to $93 today. It recently crossed the important resistance level of $76, its highest level on June 16. It has also retested that level, confirming a break-and-retest pattern.
HYPE has jumped above the key resistance level of $89.38, its previous all-time high. Also, it remains above all moving averages, while the Average Directional Index (ADX) is at 41. Therefore, the token will likely continue rising as bulls target the key resistance at $100.
Uniswap Price Prediction
The daily chart also shows that the UNI token bottomed at $2.31 in June to a high of $9.5 this week. It recently crossed the important resistance level of $7.47, its highest level on September 6.
The token has jumped above the 50-day and 200-day moving averages, while the Relative Strength Index (RSI) has soared to 77.7. The most likely scenario is that it retreats and retests the support of $7.47 and then resumes the uptrend.
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