HYPE Price Declines 20% Despite Nasdaq Firm’s Treasury Announcement
Hyperliquid's price has declined nearly 20% from its all-time high of $45, currently trading below $38 after a 7% drop in the last 24 hours. This selling pressure follows the announcement of a $1 million Hyperliquid Treasury by a Nasdaq-listed firm.
Key points:
- HYPE experienced a significant breakout from $17 to $45, achieving a 170% increase.
- Technical analysis indicates potential support at $38.13; failure to hold may lead to a drop between $27-$31.
- Eyenovia (Nasdaq: EYEN) will allocate $50 million to establish a crypto reserve in HYPE, becoming the first public U.S. company to adopt it in its treasury strategy.
- Lion Group Holding Ltd (NASDAQ: LGHL) secured a $600 million funding facility to launch its HYPE Treasury.
- Hyperliquid's decentralized trading platform has gained popularity, with transaction volumes surpassing that of Ethereum and Solana in gas revenue.