The current $HYPE price action is concerning and should be taken seriously.
$ETH, $SOL, $XRP, and even $DOGE have outperformed $HYPE over the past few days. Coinbase just launched perps trading in the US today, posing a serious threat to Hyperliquid’s market share. Coinbase and Robinhood are not good for $HYPE overall. Retail traders are going to use those platforms instead of Hyperliquid. They don’t care about “decentralization” or slightly better liquidity. Most normies have no idea how to even get funds onto Hyperliquid.
And whales? They don’t want everyone seeing their liquidation levels publicly, otherwise they get hunted down like JamesWynn. You don’t have those kinds of problems on Binance or Coinbase.
So the current selling pressure on $HYPE shouldn’t be underestimated, given the performance of other top coins.
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