It’s impossible not to get hyped up about HYPE, even if the vibes aren’t great.
This token has been under some pressure to sell since this month’s beginning, with the price dropping down to approximately $23. The token is having a much better month than other coins.
David Zimmerman, of K33, found that 55% of DEX volume over a 7-day period is HYPE. There’s also so much interest in the DEX that some CEXs could even be considered comparable. Around 47% is OKX levels, or 13% Binance.
ICYMI: Hyperliquid is both a layer-1 (layer-1) and DEX.
“Unlike many projects in the crypto space that launch tokens before delivering a fleshed-out working product, Hyperliquid took a different approach — it focused on building and launching a successful trading platform before introducing its native token, HYPE,” K33 wrote.
And it helped HYPE to stand out in a sea full of token launch.
“31% of HYPE tokens were distributed to users at TGE, while 38.88% was earmarked for future emissions and community rewards. The only other sizeable allocation is for current and core contributors at 23.8%. Notably, especially in a year of major unlocks, core contributor tokens are locked until November 2025 with most vesting schedules complete by 2027-2028,” Zimmerman noted.
You can’t believe it: The numbers look good right now. We have to be realistic when we look at the current market. Altcoins are weak.
Can HYPE continue to defy the general negativity? No. No. But, it is tricky.
A second possibility is that there are reasons why people get HYPEd. Hyperliquid’s ability to set the standard for token launch is a better way of improving morale.
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