HYPE price crashes as Hyperliquid volume plunges, dilution risks rise

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Hyperliquid, the popular perpetual decentralized exchange, is under intense pressure as its token nears a record low and its network volume plunges.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Hyperliquid plunged to a low of $11.10, down by 67% from its record high of $35.20. This crash has brought its market cap from near $10 billion in December to $3.8 billion. The HYPE token has crashed partly because of its substantial dilution risks.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

HYPE price has also crashed as the network faces major challenges after the JELLY crisis. In it, the developers delisted the token abruptly leading to substantial losses among investors. The crisis has led to lower activity in the network. Hyperliquid’s seven-day volumes dropped by over 27% to $38 billion, while the daily volume fell by 70% to $2.4 billion