- Many more Hyperliquid users are expected.
- HYPE’s rise from $3.4 up to $42 could be surpassed by UNI.
Hyperliquid [HYPE] The largest ever airdrop seen in the history of crypto. Initial valuation of the Decentralized Finance protocol token (DeFi), was $3.9. It distributed 310,000,000 HYPE to the community on 29 November.
The community received $1.2 Billion. In May of this year, HYPE distribution was done through a program lasting six months. This allowed users to accumulate reward points and earn airdrop eligibility.
Hyperliquid’s ecosystem is centered around the HYPE Token. Hyperliquid, a layer-1 proof of stake (POS) Blockchain is designed to handle over 200,000 transaction per second.
The HYPE Token is the heart of the Hyperliquid Ecosystem and acts as a gas to HyperEVM, the Ethereum Virtual Machine-compatible layer on the Hyperliquid blockchain. This perpetual decentralized exchange is on its own L1, decreasing settlement time and improving security.
HYPE defends its $6.17 Support
TradingView: Source for HYPE/USDC
Hyperliquid has experienced steady growth over the last few hours. It has gained nearly 70% in just the past 24 hours. Investors and participants in the market expect the token to achieve much greater gains over the next few months.
However, technical analysis revealed that the bullish momentum had slowed down. The MACD on the 15-minute time frame formed a bearish crossover, but was still above the zero mark – Indicating that momentum was not yet wholly bearish.
Click Here to Read Hyperliquid’s [HYPE] Price Prediction 2024-25
In the last nine-hour period, support has been maintained at $6.17. Though the OBV slowed in the last 4 hours, this did not mean that a bigger drop was likely.
This platform could be a benchmark for other decentralized exchanges. It is easy to use, offers deep liquidity and has a lot of potential. The market will recognize value in the token if these promises are kept. HYPE could see a rally similar to Uniswap.
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Source: ambcrypto.com
