In the last 30 days, the hyper token of the Hyperliquid DEX has dropped by more than 40 %, making this performance the worst of the top 50. What can explain this drop?
Hyperliquid sees its token hype losing 40 % in 30 days
Over the last 30 days, The hype token of decentralized exchange (DEX) of hyperliquid crypto derivatives lost more than 40 %. According to CoinmarketCap data, this is the largest bass of the top 50 cryptocurrencies in the last 30 days.
After the sharp rise which followed the Airdrop of the protocol, leading the price of the hype to exceed 35 dollars, the asset is now exchanged at less than $ 16 when writing these lines, for a capitalization of more than $ 5.25 billion:
Hype token course in daily data
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Despite this drop, the Dex does not seem to have suffered from particularly negative news, and even continues its development, with the recent launch of the hyperevm. In terms of total locked value (TVL), it is relatively stable over a month, at $ 636.5 million, and even observes an increase and equivalent ETH, with more than 290,000 units:
ETH equivalent hyperliquid TVL
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In an attempt to explain this lower decrease than the average, 2 elements can be linked. To start, there is obviously the generalized decrease in the market in the past 2 weeks.
In addition, it should be recalled that The asset was highly valued after his record record last Decemberallowing eligible traders to make important gains. In this context, said gains were thus able to be secured by profits, leading mechanically to a drop in the price of token.
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Sources: tradingView, Defillama
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Since 2021, I have devoted my free time to seriously train myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to carry out interviews with influential personalities from the blockchain industry. I also conduct in -depth analyzes on web3 themes to offer exclusive content to cryptoast readers.
Vincent Mayor
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