• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

New Altcoin’s 200% Surge Vaults Past NEAR’s Market Cap

Crypto Newsmart by Crypto Newsmart
5 months ago
in Crypto Price Analysis
Reading Time: 3 mins read
19
VIEWS
Share on Facebook


Este artículo también está disponible en español.

A new altcoin, Hyperliquid (HYPE), is rapidly making waves in the cryptocurrency market, now ranking as the 28th largest cryptocurrency by market capitalization. This ascent has seen HYPE surpass established coins like Near Protocol (NEAR), with its value soaring by 204% in just two weeks, bringing its market capitalization to around $8.93 billion.

Exploring The Hyperliquid Protocol 

Examining the altcoin’s offerings is essential to better understanding the increased attention it has garnered over the past week. 

HYPE is the native token of Hyperliquid, a Layer-1 (L1) blockchain that utilizes HyperBFT technology. This tool reportedly allows Hyperliquid to facilitate “fast, secure, and transparent transactions,” bridging the gap between centralized exchanges (CEXs) and decentralized exchanges (DEXs). 

Specifically, with the protocol’s ability to handle over 100,000 transactions per second and a latency of less than one second, Hyperliquid addresses the performance limitations commonly associated with other blockchains such as Solana (SOL) and Ethereum (ETH).

Related Reading

HYPE’s tokenomics include a burn mechanism to control supply and support price stability, a common practice seen in tokens such as Shiba Inu (SHIB). A strict vesting schedule is also in place to balance liquidity and mitigate selling pressure. 

The token offers various utility options for investors, including trading fee discounts, staking opportunities, and governance participation. HYPE holders benefit from reduced trading fees, which can significantly boost profitability, while staking their tokens allows them to earn rewards or provide liquidity in trading pools. 

New Listings And HyperEVM Launch To Boost HYPE? 

Recent insights from crypto analyst Ericonomic have also highlighted several compelling reasons to remain bullish on HYPE despite any short term correction for the Layer-1 altcoin. 

The analyst notes that Hyperliquid has seen all-time high in Circle’s stablecoin USDC deposits, indicating strong demand, while auction prices have also reached unprecedented levels, with significant purchases made by notable entities like MON Protocol. 

The total amount of USDC held on Hyperliquid has surged, showcasing robust liquidity. Moreover, many savvy traders have invested millions in HYPE and are publicly supporting the token, suggesting confidence in its future potential.

Retail investors have yet to enter the market significantly, as HYPE is not yet available on Tier 1 centralized exchanges, this could be a notable catalyst for its price in case of gathering significant attention by these traders for the HYPE price. 

Related Reading

Ericonomic has further drawn comparisons between HYPE and Binance Coin (BNB), noting that HYPE holders enjoy a more equitable distribution of fees, as all fees generated are directed back to the Hyperliquid protocol. 

Additionally, the community anticipates several upcoming catalysts, including new listings in major crypto exchanges and the introduction of HyperEVM, which could significantly enhance the platform’s capabilities.

HYPE
The 1-hour chart shows HYPE’s price consolidation after its December 12 drop. Source: HYPEUSDT on TradingView.com

At the time of writing, HYPE has consolidated at the $26.91 level following a retracement from its record peak of $42, which was reached on December 12. 

Despite this correction, the token still reflects substantial gains of over 105% on a weekly basis, accompanied by trading volumes of $342 million. Looking ahead, it remains to be seen whether there will be sufficient catalysts to support the token after its recent correction. 

Featured image from DALL-E, chart from TradingView.com 



Source link

Related Posts

Is a Bitcoin Rally Coming? Exchange Net Flow Data Suggests So
Crypto Price Analysis

Is a Bitcoin Rally Coming? Exchange Net Flow Data Suggests So

28 March 2025
Ethereum Price Hits 300-Week MA For The Second Time Ever, Here’s What Happened In 2022
Crypto Price Analysis

Ethereum Price Hits 300-Week MA For The Second Time Ever, Here’s What Happened In 2022

28 March 2025
Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours – Accumulation Trend?
Crypto Price Analysis

Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours – Accumulation Trend?

21 March 2025
XRP Coils For A Breakout, But Key Resistance Still Stalls The Rally
Crypto Price Analysis

XRP Coils For A Breakout, But Key Resistance Still Stalls The Rally

18 March 2025
Chainlink Price Shows Signs Of Recovery — Why  Is The Level To Watch
Crypto Price Analysis

Chainlink Price Shows Signs Of Recovery — Why $15 Is The Level To Watch

15 March 2025
BNB Bulls Take Charge: Price Rebounds Strongly After Recent Dip
Crypto Price Analysis

BNB Bulls Take Charge: Price Rebounds Strongly After Recent Dip

11 March 2025

[convertful id="153816"]

by CurrencyRate.Today
  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Preferences
{title} {title} {title}