This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
The HYPE token of Hyperliquid exchange dropped 6% in Thursday trading, just days after hitting an all-time high. Analysts attribute the decline to profit-taking and reduced trading activity. Most major altcoins also saw mild losses amid a broader crypto market dip.
- HYPE token dropped 6% after reaching $45.59 ATH, but remains up 40% monthly due to Hyperliquid's perpetual futures dominance.
- Analysts cite corporate profit-taking (Eyenovia, Lion Group) and reduced buy-and-burn mechanism impact as key decline drivers.
- Broader crypto market dipped 2.5% with most altcoins in negative territory during low-volume Juneteenth holiday trading.
📎 Related coverage from: decrypt.co