HYPE token surged to $34.53, marking a 70% increase from its lowest point this year, driven by a rise in staking activity and a rally in precious metals. The staking market cap for HYPE increased by 36% to $15.16 billion, with a staking ratio of 45.48%, indicating strong investor confidence. The Hyperliquid Improvement Proposal 3, which allows builders to create their own perpetual markets, has also contributed to the staking surge. Additionally, HYPE is benefiting from the ongoing boom in silver and gold prices, as Hyperliquid facilitates trading of these assets. The platform's futures open interest for silver exceeded $1 billion, and its perpetual futures volume reached $6.5 billion in the last 24 hours. Hyperliquid has regained its top position in perpetual futures, handling over $170 billion in volume over the past 30 days. Technical analysis shows HYPE breaking key resistance levels, with traders eyeing a potential rise to $50.