HYPE priceHYPE

In this detailed analysis, we delve into the innovative world of next-generation decentralized exchanges (DEX) by exploring the concepts behind Hyperliquid (HYPE) and Aster. Cryptocurrencies have witnessed extraordinary days since 2021, marking the emergence of Hyperliquid amid this landscape. Meanwhile, Aster has appeared as a significant competitor. So, what makes Hyperliquid (HYPE) so captivating, and why are people optimistic about its future? Contents The Origins of Hyperliquid (HYPE) and Aster The Future of Hyperliquid (HYPE) and Aster Predictions for HYPE and Aster The Origins of Hyperliquid (HYPE) and Aster Founded by Jeff Yan, Hyperliquid (HYPE) emerged in the aftermath of the 2022 FTX collapse, which fueled anger among Democrats towards cryptocurrencies. During this period, numerous investors vowed to avoid centralized exchanges, pushing Jeff through challenging times. In 2023, Jeff established Hyperliquid Labs, offering users the experience of a centralized exchange while retaining control over their cryptocurrencies. Aster, born as a rival to Hyperliquid, offers similar conditions and additional features. Jeff assured that with these platforms, users wouldn’t face the risk of fake cryptocurrency sales, ensuring complete and secure control over their assets. This innovative approach addressed the concerns that arose following the FTX fall. The Future of Hyperliquid (HYPE) and Aster Many have experienced the FTX trauma, and newcomers to crypto have heard tales of 2022’s events. Consequently, a new segment of investors has gravitated towards DeFi platforms instead of centralized exchanges. These new adopters, alongside seasoned investors adapting to DeFi, highlight a growing trend. DeFi has long been criticized for its poor user experience, challenging even the most experienced investors. However, Hyperliquid and Aster provide user interfaces similar to centralized exchanges, making them user-friendly. This ease of use has allowed Hyperliquid to achieve a futures trading volume of over $2.73 trillion and a spot volume surpassing $110 billion, with an annual revenue of $1.22 billion. The astounding annual revenue is noteworthy. Most cryptocurrencies don’t reach such figures, making this a critical factor enhancing HYPE Coin’s bright future. Both Hyperliquid and Aster are profitable, attracting interest and producing tangible benefits, thus holding significant long-term potential. For context, American audio company Dolby generated $1.35 billion in revenue this year with 2,000 employees, while Hyperliquid achieved similar with just 11 employees. Predictions for HYPE and Aster Exploring the genesis of these protocols, their initial days, rapid growth, and Hyperliquid’s pivotal 2023 advancements reveals key insights. Investors focus on whether a protocol is profitable and attracts interest—both of which are evident in HYPE and Aster. These aspects are crucial. Previously mentioned reverse head and shoulders patterns seem to be holding at the moment, suggesting we might not see a dip below $20. People rushed to buy HYPE Coin over $30, but the prevailing negative market sentiment has affected it adversely. If this is indeed a dip recovery, a short-term climb to $27.8 is anticipated, followed by targeting the crucial $35 resistance. A brief pause at this level wouldn’t be surprising, but if BTC remains strong, prices might return to $50. With CZ’s endorsement, Aster is gaining momentum despite being a relatively new cryptocurrency. The protocol shows promising growth, while trading positions remain stable, although the token is weakening. The Aster team could enhance its utility by focusing on token burns as it has recently touched a new all-time low (ATL). After testing $0.66, Aster needs to reclaim support at $0.91 swiftly, before breaking $1.39 for a new all-time high (ATH). Aster’s resilience presents a potential for significant gains post-launch if it breaks through resistance after a period of stagnation. Typically trending sideways post-listing, altcoins like Aster are expected to surge beyond $2.5 at some point, achieving a new peak. Once this lateral and downward movement concludes, we could witness a rapid rise beyond $2.5.

Key Takeaways Hyperliquid's HIP-3 protocol has surpassed $10 billion in cumulative trading volume. The milestone indicates strong growth and adoption of decentralized trading on Hyperliquid. Share this article Hyperliquid’s HIP-3 markets have surpassed $10 billion in total trading volume, according to Hyperzap data. The milestone reflects cumulative trading activity across all user-created perpetual futures markets since the system’s launch. HIP-3 allows builders to create and operate their own perpetual markets by staking HYPE and winning a listing auction. This structure expands Hyperliquid from a closed DEX into an open platform, where nearly any asset or index can become a tradable perp market.

Hyperliquid (HYPE) has dipped by over 9.3% in the last 24 hours. Bullish traders who were betting on a quick recovery have been stunned as HYPE suffered a 19,420% liquidation on its hourly chart. This development is not restricted to Hyperliquid, as most assets are also in the red. Long-position traders lose massively CoinGlass data indicate that long-position traders lost $1,300,000 in the last hour following a decline in price. The sharp drop caused a staggering liquidation for Hyperliquid as traders were betting on a recovery. However, the broader market appears to have weighed heavily on HYPE’s performance. Notably, Bitcoin’s repeated failure to stabilize above the $90,000 level has impacted the crypto market. The total crypto market dropped by 0.48%, with altcoins underperforming Bitcoin. As of press time, Hyperliquidchanged hands at $24.43, which represents a 9.89% decline in the last 24 hours. HYPE fell from an intraday high of $27.79 to a low of $23.79 before climbing slightly to the current level. Despite the decline, trading volume is still in the green and up by 46.49% at $534.33 million. Meanwhile, Hyperliquid’s Relative Strength Index (RSI) is approaching the oversold zone as it stands at 28.93. Market watchers are now monitoring the $24 price, which is a crucial support for the asset. It is worth mentioning that short-position traders were not spared from the liquidation. Bears experienced a loss of $6,660 within the same one-hour period. This might have been triggered by HYPE breaching the $24 support temporarily before it recovered. Bitwise files for Hyperliquid ETF In the broader Hyperliquid space,Bitwise Asset Management is going ahead with its push for an exchange-traded fund (ETF) application. It has already submitted an amendment filing with the U.S. Securities and Exchange Commission (SEC), with plans to list on the NYSE and the Nasdaq. The Bitwise filing will allow investors access to HYPE without directly holding the asset. If the SEC approves the application, this might increase the adoption of Hyperliquid and positively impact the price. The Hyperliquid ecosystem had experienced challenges in November that made itpause withdrawals. However, it allowed users to make deposits as they monitored a suspected hack on the network. The Bitwise application could serve to rekindle interest from investors.

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