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Hyperliquid’s HYPE Slumps as Attention and Capital Rotate to New DEX Tokens
Hyperliquid's HYPE token is on its fourth consecutive day of a downtrend, while recently launched decentralized exchange tokens have more than doubled over the weekend.
“There’s definitely been an attention shift over the past few days,” Illia Otychenko, lead analyst at CEX.IO, noted, as decentralized exchange tokens including Aster and Avantis, and STBL surged by as much as 124%, 125%, and 147% respectively over the weekend, according to TradingView data.
Hyperliquid, on the other hand, has shed over 13% from its weekend peak and extended its losses to 7.4% today, at one point dropping to $47.83, per CoinGecko.
On prediction market Myriad, users flipped...