Broadcom's disappointing AI chip outlook pulled the Nasdaq lower for a third session, dragged Asian equities down with it, and took crypto along for the ride.
Will SpaceX IPO debut boost some altcoins?
Arthur Hayes just hit the sell button really hard, sending shockwaves through the altocin market.
HYPE's uptrend survived the sell-off, but a key test now lies ahead.
The crypto veteran blamed macro risks and AI mania for taking profits, drawing backlash from traders for selling well below his recent bullish forecasts.
Hyperliquid price has retreated from its record high after BitMEX co-founder Arthur Hayes liquidated his entire HYPE holdings, triggering profit-taking across the market and raising questions about whether key support levels can withstand mounting selling pressure.
HYPE hit an all-time high near $75.40 while Solana dropped to its lowest level since 2023. Hyperliquid's perp volume hit a record 6.63% global share, and Grayscale launched its HYPG ETF.
Is Hyperliquid emerging as the preferred DeFi wager on Wall Street?
Hyperliquid's market capitalization has climbed to over $16 billion, but still well behind Solana's $42 billion.
Grayscale has launched a Hyperliquid staking ETF (HYPG) on Nasdaq, while charging a 0.29% fee that officially makes it the cheapest U.S. listed HYPE ETF.
Despite the bullish sentiment on HIP-3, Hyperliquid's pure crypto volumes are down significantly year over year.
The whale is now backing Arthur Hayes' favored HYPE, ZEC and NEAR plays, signaling a sharp pivot toward momentum-led crypto bets.