$HYPE just front ran the whole market, and the coinbase perp narrative is simply causing slowdown imo
Otherwise fundamentally Hyperliquid stays on top and has no competition in execution, especially combined with Hyperunit
Hyperliquid stays on top IMO, just look at how onchain overall takes marketshare from centralized platforms, the trend is clear
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 Hyperliquidâs market share. Coinbase and Robinhood are not good for $HYPE overall. Retail traders are going to use those platforms instead of Hyperliquid. They donât care about âdecentralizationâ or slightly better liquidity. Most normies have no idea how to even get funds onto Hyperliquid.
And whales? They donât want everyone seeing their liquidation levels publicly, otherwise they get hunted down like JamesWynn. You donât have those kinds of problems on Binance or Coinbase.
So the current selling pressure on $HYPE shouldnât be underestimated, given the performance of other top coins.
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