Hyperliquid’s HYPE token exploded 65% higher yesterday, smashing through resistance to hit $34.5 – its strongest level in two months. The SEC is reportedly reviewing recent HYPE trading activity, according to anonymous sources. Meanwhile, derivatives platform dYdX saw HYPE perpetual contracts reach $89 million in daily volume on January 28 – triple the previous record. One transaction moved 850,000 HYPE tokens worth roughly $29 million off Binance on January 27. Another wallet accumulated 1.2 million tokens across three separate purchases that same day.