Hyperliquid (HYPE) Plummets 60% from Peak as Market Responds
Price Decline: Hyperliquid's native token HYPE has dropped 60% from its all-time high, currently trading around $24, amid significant whale activity and market capitalization decline.
Increased Trading Activity: Trading volume exceeded $550 million during this downturn, indicating intense market activity and substantial liquidation events, with $70 million in long liquidations reported.
Whale Influence: Key market players, or whales, are facing financial strain, with one whale reporting a $22.5 million loss on a 5x long position, highlighting the volatility and potential for further market disruption.
Market Stability Measures: The Hyper Foundation proposed burning 37 million HYPE tokens to stabilize market conditions, while analysts suggest that further price adjustments below $22 may occur as market sentiment remains cautious.
About the author







