Hyperliquid's token is sliding, but it is sliding from a record.
$HYPE trades near $86.8, down about 4.7% in 24 hours, per CoinGecko. The all-time high of $97.96 is only about 11% away, which makes it one of the few large caps still close to its peak while bitcoin sits roughly 35% below its own.
The venue is in the news for another reason: per CryptoSlate, the biggest nearby cluster of ether long liquidations sits on Hyperliquid, around $2,511. Busy liquidation days tend to mean fee revenue even when the token is red.
My view: a 4.7% dip on a day the whole market lost about 4.7% is a market story, not a Hyperliquid story.
💬 Does HYPE deserve to trade closer to its high than other large caps?
#Hyperliquid #Perps
$HYPE trades near $86.8, down about 4.7% in 24 hours, per CoinGecko. The all-time high of $97.96 is only about 11% away, which makes it one of the few large caps still close to its peak while bitcoin sits roughly 35% below its own.
The venue is in the news for another reason: per CryptoSlate, the biggest nearby cluster of ether long liquidations sits on Hyperliquid, around $2,511. Busy liquidation days tend to mean fee revenue even when the token is red.
My view: a 4.7% dip on a day the whole market lost about 4.7% is a market story, not a Hyperliquid story.
💬 Does HYPE deserve to trade closer to its high than other large caps?
#Hyperliquid #Perps