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Alejandro Arrieche
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HYPER has gained nearly 8% in the past 7 days and stands out as one of the top-performing tokens in the top 20 during this period after recapturing its lead over Aster in the perps market. Does this favor a bullish Hyperliquid price prediction?
Data from CoinMarketCap shows that Hyperliquid has a 19.5% market share at the time of writing, as 24-hour trading volumes have surged to $4.9 billion. Meanwhile, Aster’s share has dropped below 15% with $3.7 billion in volumes during this same period.
Competition between these two trading platforms for perpetual futures has been heating up, and Aster is now preparing to launch its own blockchain to compete directly with Hyperliquid in terms of architecture.
Earlier this month, the protocol burned over $90 million worth of HYPE as part of its ongoing Hyperliquid Assistance Program, an initiative designed to use a portion of the platform’s trading fees to reduce the token’s circulating supply.
This explains the latest uptick and further favors a bullish Hyperliquid price prediction. In November alone, Hyperliquid generated nearly $100 million in fees according to data from DeFi Llama.
Hyperliquid Price Prediction: 55% Gain Ahead for HYPE If This Happens
The 4-hour chart shows that HYPE’s latest price action has formed a descending price channel since October 30.
The price seems headed to tag the upper bound of the channel at this point. This area coincides with the 200-period moving average in this lower time frame, which increases its technical relevance.
The Relative Strength Index (RSI) has been on a steady uptrend and currently sits at 54. This positive momentum reading favors a bullish outlook for HYPE. Hence, if the price breaks above the 200-period EMA, this could mean that a recovery has begun.
HYPE could rise to $40 if positive momentum accelerates, resulting in a 55% upside potential for the token in the near term.
Decentralized protocols like Hyperliquid have captured investors’ attention this year. A new crypto presale called Pepenode ($PEPENODE) aims to gamify mining and make mine-to-earn (M2E) the next big trend.
Pepenode ($PEPENODE) Offers Attractive Rewards for Top Miners
Mining cryptocurrencies no longer requires thousands of dollars invested in expensive equipment, as Pepenode ($PEPENODE) is about to launch its fun M2E.
Players will be able to create a virtual server and fire up as many mining rigs as they want by investing $PEPENODE.
Top miners will get attractive airdrops of tokens like Bonk ($BONK) and Fartcoin ($FARTCOIN) as well, fostering competition and creating an incentive to deploy and upgrade new rigs.
In addition, up to 70% of the tokens spent on upgrades will be burned forever, which should result in further downward pressure for the price of $PEPENODE.
To buy this token before the presale ends, simply head to the official Pepenode website and link up a compatible wallet like Best Wallet.
You can either swap USDT or ETH or use a bank card to buy.
Visit the Official Pepenode Website Here
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