Hyperliquid, the popular eternal decentralized exchange, is under intense pressure because token a record is approaching and its network volume is falling.
Hyperliquid (hype) token fell to a low of $ 11.10, with 67% compared to its record high of $ 35.20. This crash brought its market capitalization in December from almost $ 10 billion to $ 3.8 billion.
The Hype -Token has been partially crashed because of the substantial dilution risks. According to CoinmarketcapIt has a total stock of almost 1 billion tokens, of which 333 million is in circulation.
Hyperliquid’s token -evasions start in November of this year, when the network will release 216,580 hype -tokens worth $ 2.52 million daily. The last unlocking will take place in November 2028. Token dislocations, especially without a burning function, lead to higher inflation and dilution of existing token holders.
Hype price has also crashed because the network stands for major challenges after the jelly crisis. In it, developers abruptly removed the token, which led to substantial losses among investors.
The crisis has led to lower activity in the network. Defi Lama Data shows that the eternal futures volume in March fell to $ 175 billion, the second consecutive month of decline. This volume peaked in January at nearly $ 200 billion as Solana Meme Coins rose.
The seven -day volumes of Hyperliquid fell by more than 27% to $ 38 billion, while the daily volume fell by 70% to $ 2.4 billion.
The same trend happened on the Layer-1 network of Hyperliquid, the volume of which fell by 28.5% to $ 702 million.
Hype Price Technical Analysis
The 4H graph shows that the hyperliquid price has crashed from $ 35.12 to $ 11.6. It recently fell under the crucial level of support at $ 12.11, the lowest point on March 13.
Moving level moving under that level invalid the formation of a double bottom pattern.
The token has also formed a bearish flag pattern, which is characterized by a vertical line and a rectangular consolidation. This is a very popular Beerarish continuation pattern in technical analysis.
Hype price has been under the progressive average of 50 periods. That is why token is likely to continue to fall, because sellers focus at his low of $ 10.45. A movement above the resistance of $ 13.37 will invalidate the bearish -by -views.
