Since December 21, when its price reached an all-time high of $34.96 per coin, the price of Hyperliquid’s native token $HYPE has retreated by 23% as the market’s sentiment has changed slightly since the last meeting of the Federal Reserve. However, this has not made the $HYPE airdrop any less successful as the token accumulates gains of nearly 275% since it hit the secondary market according to data from CoinMarketCap. Despite its temporary weakness, high-profile crypto analysts are enthusiastic about what the future holds for HYPE. This includes Ansem, a popular figure on X who is known for his early bets on Solana (SOL) and dogwifhat (WIF) that allowed him to reap millions. In a recent tweet, he compared $HYPE’s prospects with that of $SOL back when the token was worth only $8 in a tongue-in-cheek way. I missed SOL $8 to $200 I won't miss HYPE to $300 — Ansem (@blknoiz06) December 16, 2024 Although he has not provided many details about his bullish stance on this new token, this protocol is already making its way to the headlines amid its appealing value proposition and tokenomics. Hyperliquid is a perpetuals exchange that operates in its own layer-one (L1) network . Multiple tokens can be traded within its platform through a user-friendly interface at competitive trading fees. The $HYPE token has been designed as a deflationary asset as its total supply shrinks every year. This is achieved by progressively burning tokens with the income generated by trading fees. As a result, the value of the $HYPE token is poised to increase over time as long as the exchange is being used widely. Data from DeFiLlama indicates that the total value locked (TVL) of Hyperliquid currently stands at $2.3 billion making it the 19 th largest decentralized finance (DeFi) protocol in the crypto space at the moment. Although Hyperliquid still has much to prove in terms of adoption and growth, the protocol has already proven that it can attract significant interest from investors who see significant price appreciation ahead for its native token $HYPE. $Hype Breaks Trend Line Support but Resumes Upward Trajectory $HYPE moved up at a frantic pace shortly after its airdrop. However, the token faced a significant pullback since December 21 that slowed down its pace and pushed it below the $25 area temporarily. The token found support shortly after at $24 and has been progressively making higher lows and higher highs since then, meaning that a new uptrend is forming. Although the former trajectory is no longer dominating the price action, $HYPE is still moving up. The road to retest its all-time highs may not be as smooth as before but as long as the price holds above $20 the outlook for the token is positive. Ansem’s comments may have aided $HYPE’s short-term performance as he is a widely followed voice in the crypto space, boasting nearly 633,000 followers on the social media platform X. Whether the market’s excitement for this protocol and its native token continues will depend on adoption, TVL growth, the rate at which $HYPE is burned by the project’s treasury, and other similar factors. This Vote-to-Earn (V2E) Token Has Raised Millions in Just a Few Days The pioneer meme coin of the vote-to-earn (V2E), Flockerz , has been attracting significant interest for investors every week amid its innovative model that compensates token holders for participating in the project’s governance decisions. Thus far, the $FLOCK presale has raised $8.25 million in less than 14 days as investors have opted to take advantage of the discounted price at which the token is being offered. The Flock Don't Stop! With just 25 days left in the presale, The Flock continues to show its strength, with 8M raised! What a proud day for all of Flocktopia pic.twitter.com/GA7JDEt4YX — Flockerz (@FlockerzToken) December 27, 2024 Flockerz introduces a novel mechanism that incentivizes holders to vote and have a say on how the project advances toward its goals. Vote-to-earn (V2E) has emerged to become a widely adopted approach that meme coins may be embraced in the near future to build stronger and more engaged communities. With $FLOCK, investors earn from multiple sides. They can generate staking rewards with a generous APY, they will benefit from receiving token rewards for casting votes on the protocol’s most critical proposals, and they will also gain from progressive increases in the price of the token once its presale ends and exchanges start to list it. The presale price of $FLOCK stands at $0.0065561. This is a heavily discounted price that the developing team is offering to position early buyers favorably to gain once the asset is listed on major exchanges. To buy $FLOCK, visit the official website of Flockerz and simply connect your wallet. You can convert USDT or ETH or use a bank card to complete your purchase. Don’t miss out on this chance to buy a nascent meme coin that will disrupt how projects engage and incentivize their communities. The post Hyperliquid Airdrop Crashes 23% – Is There Hidden Bullish Signal? appeared first on Cryptonews .
