Hyperliquid price

Author: Jack Kubinec Compiler: Deep Tide TechFlow Next, we'll dive into how Hyperliquid vs. Solana compares: Will HYPE be the next SOL? WILL HYPE BE THE NEXT SOL? Among the cryptocurrencies issued after the collapse of FTX, there are very few in the top 15 by market capitalization. The two exceptions are: SUI, which began trading in mid-2023; HYPE, whose market capitalization has soared to more than $11 billion since the airdrop in November 2024. As the native token of Hyperliquid Layer-1, HYPE has more than tripled in price since its local low on April 6, 2024, far outpacing Solana's roughly 70% increase over the same period. HYPE has undoubtedly garnered a huge amount of attention for crypto investors looking for the next Layer-1 token that could bring Solana-like returns. Even Galaxy's Mike Novogratz has jumped on the bandwagon. HyperLiquid's core Layer-1 appchain, HyperCore, is designed for its order book exchange, which generates revenue through transaction fees and is used for token buybacks. The product has been hugely popular: according to Artemis, in April 2024, Hyperliquid accounted for 77% of on-chain perpetual contract trading volume. In addition, Hyperliquid has launched an Ethereum Virtual Machine (EVM) network called HyperEVM, but its adoption rate is currently nowhere near as high as HyperCore. There is some disagreement in the market regarding the valuation of HYPE: should it be seen as a decentralized exchange (DEX) token saturated in demand in the perpetual contract market? Or should it be seen as a Layer-1 token that can compete with Ethereum and Solana? Currently, the pricing of HYPE sits somewhere in between. Syncracy Capital's Ryan Watkins, who holds both HYPE and SOL in his portfolio, released a chart in early March showing that Hyperliquid's trading fee multiples are lower than other Layer-1s, including Solana. source Translation: TechFlow Boccaccio, an analyst at Blockworks Research, noted that Hyperliquid's higher ratio of fully diluted valuation (FDV) to fees compared to competitors Drift and dYdX suggests that its appeal to investors is not limited to simple perpetual contract DEXs, but is given a higher value. Danny Nelson, an analyst at Bitwise Research, said that Hyperliquid's goal is to build a vibrant blockchain economy like Solana, but "it's not quite there" yet. "Nonetheless, the ecosystem's flagship perpetual contract exchange has become an industry giant. This is also reflected in the pricing of HYPE in the market, which I think also attempts to anticipate that Hyperliquid will lead to more successful projects in the future. Nelson added. In addition, there are some unique factors that affect Hyperliquid's value proposition: Hyperliquid's validator cluster is not as highly decentralized as other Layer-1 projects. Hyperliquid doesn't require users to undergo Know Your Customer (KYC) verification, which is required by most centralized exchanges, such as Binance. This feature may be attractive to some traders and be considered by the market for valuation. For token investors looking for excitement in the market, HYPE looks like a rare opportunity in recent years. But it may be too early to call it the next SOL.  

A sudden realization hit me that shilling hyperliquid referrals could be as lucrative as early binance and ftx reflinks, and I am way behind the game

SonicLabs is positioned well for these developments. Continued growth within the ecosystem is anticipated.

James, after losing $80 million, said: You call $80 million wealth? Nowadays, that amount of money can't even buy a superyacht. Trading $1 billion with 40x leverage is just normal volatility. You go your way, I'll go mine. A new high is coming soon, enjoy the show.

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