The native token of HEMI, a modular Layer-2 protocol powered by Bitcoin and Ethereum and backed by YZi Labs, has captured the attention of the crypto market with an unprecedented price surge of over 900% in less than a month.

Once a relatively niche project, HEMI has now moved into the spotlight, driven by a combination of strategic exchange listings, innovative technology, and booming investor interest in decentralised finance (DeFi).

The token’s meteoric rise was initially fueled by its listing on Binance, the world’s largest cryptocurrency exchange.

HEMI now trades against BNB, opening access to millions of users and vastly increasing its liquidity.

The Binance listing also included a HODLer airdrop, distributing 100 million HEMI tokens to users staking BNB, a move that created substantial speculative demand.

Notably, following the Binance announcement on September 23, HEMI saw an intraday high of $0.1773 before settling at $0.178, representing gains of over 900% from late August lows.

But the rally was not isolated to the Binance listing alone; the token had already debuted on exchanges like Gate, Toobit, BYDFi, and WEEX, building liquidity and accessibility across multiple markets.

The cryptocurrency’s trading volumes exceeded $500 million within 24 hours, three times the market capitalisation, underscoring the strong demand and active trader participation.

HEMI has also been listed on Hyperliquid futures today, further amplifying the listing-sparked rally.

By community request, you can now long or short $HEMI with up to 3x leverage.

HEMI’s growth is also closely tied to the expansion of its decentralised finance (DeFi) ecosystem.

The total value locked across Hemi’s protocols has surpassed $840 million, according to DefiLlama, with over 90 active protocols and more than 100,000 verified users.

Such activity indicates that HEMI is not only attracting speculative interest but also seeing real utility in its platform.

By offering developers the ability to build smart contracts that directly interact with Bitcoin data through its Hemi Virtual Machine (hVM), the network is unlocking new use cases that blend Bitcoin security with Ethereum programmability.

The Hemi Bitcoin Kit (hBK) and Tunnels further enhance the platform, enabling secure asset transfers between Bitcoin, Hemi, and Ethereum while ensuring decentralised, Bitcoin-level security through the Proof-of-Proof consensus mechanism.

These innovations position HEMI as a serious contender in the Layer-2 and DeFi space, appealing to both institutional and retail investors.

Despite the strong rally, technical indicators suggest that the token may be entering overbought territory.

The 14-day RSI recently reached 86.61, with the 7-day RSI peaking at 90.49, signalling extreme bullish momentum but also highlighting the risk of short-term corrections.

Currently, HEMI trades significantly above its 50-day and 100-day moving averages, and any drop below the $0.135 pivot point could trigger profit-taking.

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