CandleFocus

Hyperliquid TVL Reaches Year’s Low as HYPE Falls Toward $20

Author: Content Editor
The layer-1 blockchain Hyperliquid has seen a drop in its Total Value Locked (TVL) despite an overall increase in decentralized finance (DeFi) TVL in the market. This decline has led to a decrease in demand for the native token HYPE, leading to a potential further fall in its price. Hyperliquid's TVL has fallen by 20% since the beginning of the year, sitting at $1.89 billion currently. This decline in TVL is reflected in a drop in trading volume and a 10% decrease in the value of HYPE over the past seven days. Technical indicators suggest bearish momentum, with the possibility of the token's price dropping below $20. However, a positive shift in market sentiment could push the price to $31.04.

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