Hyperliquid Hyper makes the worst decrease in top 50 after 30 days-what happens?

In the last 30 days, Hyper Token has decreased by more than 40 %, which makes this performance the worst of the TOP 50. What can this decline explain?

Hyperliquide sees that his token hype loses 40 % in 30 days

Over the past 30 days, Hype token decentralized exchanges (DEX) of hyperliquid crypto derivatives lost more than 40 %. According to Coinmarketcap data, this is the biggest bass of the top 50 cryptocurrencies in the last 30 days.

After a sharp increase followed by the Airdrop Protocol, which leads to the price of the hype to exceed $ 35, the asset is now exchanged for less than $ 16 per capitalization of more than $ 5.25 billion:

Course Hype Token in Daily Data

Course Hype Token in Daily Data

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Despite this decline, Dex seems to have not suffered from particularly negative news and even continues to develop with the recent triggering of Hyperevm. As regards the total locked value (TVL), it is relatively stable for a month, $ 636.5 million, and even observes an increase and equivalent ETH, with more than 290,000 units:

ETH equivalent hyperliquid tvl

ETH equivalent hyperliquid tvl

👉 All about hyperliquid dex (hype)

In an effort to explain this lower decline than the average, 2 elements can be connected. First there is an obvious generally generalized market decline in the last 2 weeks.

In addition, you need to remember The asset was after its record last December highly valuedallowing eligible traders to achieve important profits. In this context, these profits were given to ensure profits, which led mechanically to the price of the token.

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Hyperliquid’s HYPE Token Sees Sharp Decline: What’s Happening?

Introduction

Hyperliquid’s HYPE token has experienced a massive 40% decline over the past 30 days, making it the worst-performing asset among the top 50 cryptocurrencies during this period. After reaching a high of $35 following an airdrop event, the token has plummeted to under $16, despite the Hyperliquid DEX (decentralized exchange) continuing its expansion.

Reasons Behind the Decline

While there is no single definitive cause for this decline, several factors seem to have contributed to the downtrend:

1. Market-Wide Downturn

The general cryptocurrency market has been experiencing a downturn over the last few weeks. Many major cryptocurrencies, including Bitcoin and Ethereum, have seen price corrections, which likely impacted HYPE as well.

2. Profit-Taking by Early Investors

The HYPE token surged dramatically following its airdrop, attracting significant attention and new investors.
Traders who received the airdrop or invested early likely took advantage of the price peak to secure profits.
This large-scale profit-taking led to increased sell pressure, contributing to the token’s rapid decline.

3. Overvaluation Following the Airdrop

After the December 2023 launch and subsequent hype, HYPE was considered highly valued.
Once the initial excitement died down, the token’s price adjusted to reflect its true market demand.

4. No Major Negative News for Hyperliquid DEX

Unlike other projects that have suffered from hacks, regulatory scrutiny, or ecosystem collapses, Hyperliquid has continued to expand.
The platform recently launched HyperEVM, indicating ongoing development and long-term viability.
The total value locked (TVL) remains stable at around $636.5 million, suggesting that fundamental interest in the platform has not drastically declined.

Current Market Standing

Despite its price drop, Hyperliquid’s ecosystem remains relatively strong:

TVL in ETH equivalent has actually increased, now exceeding 290,000 ETH.
The platform continues to gain traction among crypto traders and DeFi users.
Many believe that once market conditions stabilize, HYPE could see a recovery.

Future Outlook: Will HYPE Bounce Back?

Bullish Factors

Continued expansion of Hyperliquid DEX and its innovative trading solutions.
The successful launch of HyperEVM, which could attract more users to the ecosystem.
A possible market recovery that may lift all major cryptocurrencies, including HYPE.

Bearish Factors

Further profit-taking by early investors could continue to weigh on the price.
Market volatility may discourage new investors from entering the ecosystem.

Conclusion

While the 40% drop in HYPE token’s value is significant, it appears to be driven more by profit-taking and market-wide corrections rather than fundamental weaknesses in the Hyperliquid ecosystem. As Hyperliquid DEX continues to develop, the long-term outlook for HYPE remains uncertain but could stabilize if the platform gains further adoption and market conditions improve.

For traders and investors, it remains crucial to closely monitor market trends, Hyperliquid’s developments, and overall crypto sentiment before making investment decisions.