Hyperliquid controls currently 43% of cryptocurrency fees, with $11 million in revenue per week. Ethereum (ETH) held 13%, whereas Solana (SOL), 10%. Hyperliquid has seen a surge in value as Goldman Sachs takes a significant position on initiatives related to this project.
Hyperliquid Surges Amid Goldman Sachs Investment
As per Goldman Sachs’ recent 13F filing with the SECThe financial institution sold some of their XRP, Solana, and Ethereum ETF holdings while retaining others. The financial institution, however, has invested instead in Hyperliquid’s Hyperliquid Strategis Inc. The filing shows that the financial institution has bought 654,630 Hyperliquid Strategies Inc. shares (PURR) worth $3.3million. Moreover, these purchases are made just days after Hyperliquid Strategies Inc. (PURR) launched their ETF.
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Hyperliquid (HYPE), it appears, has seen its prices rise. HYPE has been trading at a green level across all timeframes while most other major cryptocurrencies have seen price corrections. CoinGecko’s data shows that HYPE has experienced a price surge of 1.1% over the past 24 hours. It also saw a 21% increase in the week prior, 9.6% on the 14-day chart, and 18.9% in comparison to the month before. Additionally, Hyperliquid’s (HYPE), which is currently about 18% down, is getting closer to the all-time record high price of $59.30. If the upward trend continues, HYPE has a good chance of hitting a record high.
Hyperliquid (HYPE), while its rally has been commendable at the moment, it is possible that there will be a correction in price soon. Investors may decide to book profits or move their money to more secure investments because the market as a whole is weak. The Federal Reserve may decide to keep rates the same or even raise them if inflation data are higher than anticipated. This could cause investors to flee high-risk investments. Under such conditions, the price of Hyperliquid (HYPE), could drop.
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Source: watcher.guru
