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Will HYPE Price Skyrocket As Staking Launches on HyperLiquid Mainnet?
The launch of HYPE token staking on HyperLiquid’s mainnet marks a major development for the network and its users. This new feature allows HYPE holders to stake their tokens with validators, earning rewards while contributing to the security and decentralization of the platform.
HYPE Staking Goes Live on HyperLiquid
HYPE token staking is now available on HyperLiquid’s decentralized exchange, the Hyper Foundation announced. The foundation also stressed the importance of staking for the security of the network and attracting more people to the project.
”With staking, the various users in the HYPE staking community can collectively secure the network,” the Hyper Foundation said in a post that was shared on X.
Staking allows users to transfer their tokens to trusted validators so that the users can receive more tokens depending on the performance of the validators. The validators take an active part in proposing new blocks for the network based on the amount of staked HYPE. The foundation also recommended checking validator metrics such as uptime and time online, reputation and reviews, commission rates, and contributions to the community.
More than 320 million HYPE tokens have been staked across many validators as of now. In the HyperLiquid platform, the rewards are only given to the validators who have successfully participated in consensus, which is why it is crucial to select the proper validators.
Plans to Strengthen Decentralization
During the presentation, the Hyper Foundation unveiled the Delegation Program that will be used to incentivize the most efficient validators. While the specifics of the programme have not been made public yet, the foundation said that it would be rewarding validators active in the ecosystem and its protection.
The staking system also includes the possibility to use locked HYPE tokens. However, rewards from these tokens are currently non-withdrawable until the lockup period is over. This mechanism promotes long term loyalty to the network while at the same time balancing the reward sharing system.
Consequently, the success of HyperLiquid is in line with the general trend of the DeFi industry. Grayscale Research recently added HYPE into the Top 20 diversified crypto assets list where the company highlighted network growth, adoption, and sustainability as major factors for such inclusion. Other tokens on the list are Ethena’s ENA, Virtual Protocol’s VIRTUAL, Jupiter’s JUP, Jito’s JTO, and Grass.
On the derivatives market, HYPE has observed an increase in its open interest which is now at $585.90 million from a previous 0.98%. In addition, the trading volume increased by 21.75% to $318.03 million which shows that more people are participating in the market as staking is gradually becoming popular.
Will HYPE Price Breakout To $36?
Since the token generation event that took place on the 29th of November, HYPE has shown exceptional price appreciation, with the coin rising by over 640%. The token reached its peak at $34 on December 22, and has since remained fairly constant at around $28. At the moment, HYPE has a total supply of 333.9 million tokens, which is trading at a $9.3 billion market cap and has a fully diluted valuation of $27.9 billion.
Concurrently, HYPE’s price chart indicates a bullish breakout from a falling wedge formation, a common reversal signal. However, the price has moved sideways after the breakout, signaling a consolidation phase. Analysts project a potential price target of $36, based on the wedge’s height, provided bullish momentum resumes.
Technical indicators show mixed signals. The Relative Strength Index (RSI) hovers near 47, slightly below the neutral 50 level, suggesting weak momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) displays bearish tendencies but shows signs of flattening, potentially signaling waning selling pressure.
Key support lies around $26.50, with resistance between $28 and $29. A breakout above this range could propel the price toward $36. Conversely, failure to hold support at $26.50 might invalidate the bullish outlook.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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RLUSD, the stablecoin floated by American blockchain payments firm Ripple Labs is growing at a fast pace, currently flipping its core rivals in 24 hour trading volume. Despite the stablecoin’s young age, it has printed a sustained growth track to beat Paypal’s PYUSD and Circle’s EURC tokens. This milestone comes despite Ripple USD showcasing a much smaller market capitalization than the duo.
RLUSD Stablecoin and the Performance Metrics
Per data from CoinMarketCap, the Ripple stablecoin boasts a self-reported market cap of $53.1 million. Atop this, the stablecoin saw its trading volume jump by 1,566% in 24 hours to $607.58 million.
This unexpected boost contrasts sharply with Paypal’s PYUSD with a $491.72 million capitalization and a 24 hour volume of $19.74 million. Also, Circle’s EURC, a MiCA-compliant token with market cap of $82.38 million and $10.55 million volume.
While it remains unclear the reasons for the RLUSD stablecoin growth, uptickthe current outlook positions it as the 3rd most traded token after Tether (USDT) and Circle’s USDC.
A related growth is seen across the board for Ripple coin per data insights from XPMarkets. At the moment, the token has a total user of 7,600, up from the 1000 it recorded 24 hours after Ripple launched the stablecoin in December, 2024.
With the RLUSD stablecoin’s growth trend, it is now the 13th largest asset on the XRP Ledger by market capitalization.
The token’s growth also hinges on its expansion on top trading platforms globally. As reported earlier by Coingape, it launched on Bullish on Christmas Eve after it made its global debut on Uphold and Bitso. These listings helped boost its liquidity and accessibility by users.
Ripple, XRP Ledger and RWA Agenda
Beyond its direct role in facilitating payments, Ripple Labs has a bigger plan for the RLUSD stablecoin. The firm is making ambitious move in the Real World Tokenization (RWA) world through its partnership with Archax.
Ultimately, the firm hopes to integrate the stablecoin as a primary liquidity layer in driving this use case. The firm recently launched its first tokenized money market fund on XRP Ledger lately, establishing its foothold in this industry.
Ripple executives have reiterated how the stablecoin, XRP Ledger and XRP will form a complementary bond across its product suite. The liquidity boost of the stablecoin might account for the latest rally in the price of XRP as reported earlier by Coingape.
As of writing, the coin was changing hands for $2.432, up by 2.6% in the past 24 hours. In an earlier XRP price analysis, the coin is projected to hit Should the broad Ripple plans work out, analysts are projecting a potential push to $3.5.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Crypto analyst Master Kenobi has revealed two levels to watch out for before the FLOKI price hits a new all-time high (ATH). The analyst also revealed the timeline for when the top meme coin could reach these price targets.
Two Levels To Watch Before FLOKI Price Hits ATH
In an X post, Master Kenobi revealed $0.00021 and $0.00028 as two levels to watch before the FLOKI price hits its current ATH of $0.00035 and enters price discovery. He added that he believes that the top meme coin will hit these price levels this month.
The analyst’s accompanying chart showed that FLOKI could rally to as high as $0.0011 as it rallies to a new ATH. A rally to this price level represents a gain of around 478% for the meme coin.
Master Kenobi also recently provided a bullish outlook for the FLOKI price. The crypto analyst mentioned that the crypto was on the verge of a massive breakout that could send its price to around $0.00080.
In a recent X post, he again reaffirmed that the meme coin was on the verge of a price breakout. Master Kenobi suggested that FLOKI could soon breakout from the two-weeks rectangle.
More Bullish Outlook For The Top Meme Coin
Other crypto analysts have provided a bullish outlook for the FLOKI price. One of them is World Of Charts. In an X post, the crypto analyst noted that the meme coin has recorded a 2x price increase from its last breakout.
He added that FLOKI is now bouncing again from the horizontal support area and approaching the bullish flag trendline. In line with this, World Of Charts predicted that the meme coin could record another 2x price increase in the coming days.
Crypto analyst Poseidon noted that the FLOKI price has recorded 300 days of consolidation. He remarked that this consolidation phase should end with an expansion to the upside.
From a fundamentals perspective, FLOKI also has a bullish outlook. As CoinGape reported, the meme coin’s ETP could go live in the first quarter of this year. This fund will attract institutional inflows into the coin’s ecosystem and possibly contribute to future price rallies.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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With the Bitcoin price sliding below $100k, the crypto market sentiments drifted away from the ‘Greed.’ However, the outlook can get even worse, as the recent market finding hints at the possibility of a global economic recession, which could create a major crash for all financial markets. Let us discuss the analysts’ recent findings on the recession and its impact on the crypto industry.
Bullish Crypto Market Sentiment at Risk With New Recession Prediction
An on-chain analytics firm, Bravos Research has brought investors’ attention to a rare but historically significant event. According to the firm, the yield curve has just un-inverted, and the last three times it happened, it led to economic downturns. Overall, these findings highlight the possibility of the upcoming recession, as the short-term bond yield has dropped below the long-term yield before reverting. Interestingly, this is the widely popular and accurate indicator of economic recession, which predicted the Great Depression of 1929, the dot-com crash in the 2000s, and the financial crisis 2008.
Now, the yield curve has been inverted ever since early 2023 but has finally been un-inverted, concerning the investors and their sentiments. However, there are minor changes that could delay the recession. The Bravos Research findings revealed that there is un-inversion but the 10-year yield rose, which has not happened in the previous cycles. Additionally, the GDP growth and unemployment hikes in the previous recession align with the falling yield. However, that is not the case in the present situation. The rise in 10 year-yield shows resilience in economic fundamentals.
Eventually, this divergence disturbs the recession prediction, but it does not completely change that. The recession’s possibility could still continue and affect the Bitcoin and the market despite the rise of unemployment rates and the steepening of the yield curve.
How Will the Crypto Market React?
Although the crypto market often moves against the traditional market, the recession and similar macroeconomic events could also break the performance of digital assets. As all the financial markets rely on capital inflow, a recession can impact investors’ risk-taking sentiments. Meanwhile, the interest rate goes up, which prevents borrowing to invest. However, historical records also show that compared to the traditional market, recovery in most cases is faster in terms of crypto sentiments. Regardless, Bitcoin and the rest of the top cryptos have not witnessed a major recession. This is why an accurate market behavior prediction is hard to conclude.
For now, analysts believe that increasing bond yield could trigger volatility in most financial markets, whose impact will be seen in crypto market sentiments as well. However, as the reports hint, if the recession is delayed, it could present further opportunities for strategic accumulation.
What Investor Should Do Next?
The crypto market depends on hundreds of factors and could occasionally bring high volatility. The recession period will bring a similar outcome but on a higher level. For situations like this, crypto analysts have often suggested working with a diversified crypto portfolio and implementing risk management tactics. More importantly, investors should look for a long-term growth outlook and invest in utility-based tokens like Bitcoin. The Rich Dad and Poor Dad, Robert Kiyosaki, say, buy and forget. Interestingly, Kiyosaki confirmed a global market crash but called that a buying opportunity rather than a threat.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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