Hyperliquid’s native token, HYPE, which had been on an upward trend over the past few days, experienced a 20% price dip today, trading at $26.54, while its market cap dropped below $9 billion. Hyperliquid (HYPE) surged to a record high…
Hyperliquid’s native token, HYPE, which had been on an upward trend over the past few days, experienced a 20% price dip today, trading at $26.54, while its market cap dropped below $9 billion. Hyperliquid ( HYPE ) surged to a record high of $34.96 on Dec. 22, rising from its airdrop listing price of $11 and achieving nearly 200% cumulative gains. Its market cap surpassed $11.5 billion at the time, securing a spot among the top 20 coins by market cap, according to CoinGecko. Launched in June 2023, Hyperliquid DEX has gained traction due to its innovative approach to eliminating gas fees for transactions. The platform offers low fees on perpetual contracts and trade openings, with the revenue reinvested into the ecosystem through token buybacks or by supporting ecosystem vaults. HYPE’s price rallied after one of the most highly anticipated token airdrops of the year. Hyperliquid distributed 310 million tokens to its users, marking the largest airdrop in crypto history. However, the altcoin’s price has faced a setback due to growing concerns within its community, making HYPE the top trending coin on CoinGecko. HYPE dropped by 26% from its all-time high reached yesterday, hitting an intraday low of $25.77 on De. 23. The slump brought its market cap down to $8.87 billion, making it the 23rd largest crypto asset at press time. You might also like: Happy Cat, Hyperliquid, Virtuals lead as Bitcoin steadies above $100k Why did HYPE tank? HYPE’s price dropped after community members noticed that a major whale, identified as X user laurentzeimes, began selling over 1 million HYPE tokens. The sales were executed using Hyperliquid DEX’s TWAP (Time-Weighted Average Price) mechanism, which splits large orders into smaller transactions over a set period to minimize slippage. So far, within the ongoing TWAP execution, the whale has sold 175,000 tokens. The whale sell-off coincided with concerns over North Korean hackers actively trading on the platform, with cybersecurity expert Tayvano speculating in an X post that this activity might be an attempt to test a vulnerability in Hyperliquid’s security. The expert noted that the issue is especially alarming given that Hyperliquid operates with only four validators, raising further concerns. Following the discovery, Hyperliquid has experienced over $42 million in USDC outflows — its largest since launch — likely exacerbating HYPE’s price plunge per data from Dune Analytics. However, analysts remain optimistic despite the recent hiccups, predicting that HYPE could resume its climb and potentially reach a new all-time high. In a Dec. 23 post , analyst CJ, with 92.8k followers, expressed a bullish outlook for HYPE, suggesting it could climb towards a $40 target if it breaks above the key $30–$32 resistance level. He noted that while the short-term trend may appear bearish, a drop to $18–$22 could offer traders a strong buying opportunity. However, CJ added that if HYPE’s price rebounds to around $32.3 in the coming days, it would invalidate his prediction. Previously, crypto.news analysts predicted a similar price target, stating that HYPE needs to rise above its all-time high of $34.8 to confirm a bullish breakout, potentially reaching $40. This outlook is supported by Hyperliquid’s strong performance in the DeFi sector, where it leads the decentralized perpetual trading market with a weekly trading volume that peaked at $98.6 billion last week and a TVL that recently surpassed $3.4 billion for the first time this month, up from $188 million in October. Read more: Bitcoin price is still undervalued, MVRV indicator shows
Cardano (ADA) experienced extremely low volatility on Sunday as the market stabilized after a rough week. ADA saw a significant 15% drop in value over the past seven days. However, recent price movements suggest a potential bullish reversal despite this decline. ADA has rebounded after testing a major support level around $0.80 , reigniting optimism among analysts. Popular crypto analyst Ali Martinez shared his views on ADA’s future trajectory following this week’s pullback, noting the current market scenario reflects the 2020 bull cycle. “ADA is following an eerily similar pattern to its previous cycle. Back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today.” He tweeted Sunday, predicting the price could surge to “$6 next”. Notably, in January, the pundit pointed out the same pattern, noting that if history repeats itself, ADA could surge to $7. Elsewhere analyst “Liqprodigy” highlighted the recent appearance of a potential double bottom pattern on ADA’s weekly chart, which often signals a shift from a downtrend to an uptrend. “ ADA 1week chart has broken out from double bottom pattern & is now retesting the green horizontal line. Once we get a bounce back from the horizontal line, we can see huge pumps,” he tweeted, pointing to a target of $3 if it successfully rebounds from this key level. Notably, Michaël van de Poppe, an analyst with over 750,000 followers on X, also sees ADA’s price potentially stabilizing around $0.75, calling it the “ most optimal entry level for ADA if the markets are experiencing a broader correction.” In a recent post, van de Poppe shared his expectation for ADA to reach a new all-time high next year. Key technical indicators, including the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) crossing above the 50 level, also show bullish signals, further fueling optimism. Additionally, whale activity plays a key role in ADA’s market movements. Over the past month, ADA whales have accumulated hundreds of millions of tokens, as highlighted by analyst Ali Martinez in several posts on X. Similarly, analyst “Givesfux” observed a surge in whale transactions this week, noting on Tuesday, “Despite the pullback, whales are on the move—687 transactions over $1M in the last 24 hours. Historically, whale activity = bullish sentiment.” This suggests that large investors remain confident in Cardano’s long-term potential, which could support future price growth. ADA traded at $0.91 at press time, reflecting a 4.27% increase in the past 24 hours.
Bitcoin (BTC) could face further downward pressure in the coming weeks, presenting a potential “dip buying” opportunity for long-term investors, according to Andre Dragosch, European Director and Head of Research at Bitwise Asset Management. Bitcoin Faces More Turbulence After Biggest Weekly Drop Since August, Experts Warn Bitcoin, the world’s largest cryptocurrency by market value, fell 8.8% last week to around $95,000, marking its steepest decline since August, amid hawkish signals from the Federal Reserve. The Fed’s statement, which included fewer rate cuts planned for 2025 and a reaffirmation of the ban on BTC holdings, contributed to a broad risk-off sentiment in the markets. Traditional financial assets were also affected, with the S&P 500 losing 2% while the dollar index rose 0.8% to its highest level since October 2022. Treasury yields rose sharply, with the 10-year note gaining 14 basis points, signaling higher borrowing costs and increasing the appeal of fixed-income investments over riskier assets such as cryptocurrencies. Dragosch, who is known for correctly predicting that BTC would rise above $100,000 in the summer, has become cautious, citing tightening financial conditions and a resurgence of inflationary pressures. “While further pain is likely in the short term, given Bitcoin’s supply shortages and ongoing structural tailwinds, this could represent an intriguing buying opportunity.” Despite the short-term negativity, Dragosch remains optimistic about Bitcoin's long-term prospects. BTC’s fixed supply cap and growing adoption as a store of value could position it as a strong hedge against monetary instability. *This is not investment advice. Continue Reading: A New Warning Came From the Expert Who Correctly Predicted Bitcoin Will Exceed $100,000! Here Are the Details
El Salvador’s festive holiday celebrations amid IMF restrictions. As the country adds to its Bitcoin ( BTC ) reserve, El Salvador’s Christmas 2024 celebration has a distinctive Bitcoin-themed Christmas tree, further demonstrating the country’s everlasting dedication to the original cryptocurrency. https://twitter.com/WatcherGuru/status/1871032479596810282 On Dec. 19, 2024, shortly after obtaining a $1.4 billion loan from the International Monetary Fund , El Salvador made headlines once more when it bought 11 BTC, valued at over $1 million. This action demonstrates the nation’s audacious BTC strategy despite outside criticism. The criticism primarily comes from traditional financial institutions and economists , who have expressed concerns about the risks of BTC’s volatility and its impact on the country’s financial stability. El Salvador became the first nation to accept BTC as legal tender in September 2021, making history in the process. Although contentious, this ruling signaled a shift in the nation’s stance on cryptocurrencies. BTC has been a major part of the nation’s financial scene in recent years. Cryptocurrency has become a part of daily life, from government-backed BTC ATMs to its growing use in enterprises. However, this approach has faced skepticism, particularly from global financial entities like the IMF, which has imposed conditions on the country’s financial strategy. The terms of the recent $1.4 billion IMF loan, which was signed on Dec. 18, 2024, affect the nation’s cryptocurrency policy, one of which is to impose a ban on cryptocurrency transactions. Furthermore, companies are no longer obligated to take cryptocurrencies, and taxes may only be handled in US dollars. In addition, the IMF has ordered El Salvador’s government to stop using the Chivo wallet , a state-backed cryptocurrency wallet that was first made available in 2021. This wallet was a component of El Salvador’s larger initiative to incorporate BTC into the country’s financial system, enabling companies and residents to use cryptocurrencies to access government services and perform transactions. You might also like: El Salvador to discontinue Bitcoin wallet Chivo in $1.4b IMF deal IMF loans frequently have terms that have a direct impact on a country’s financial and economic choices. The purpose of these requirements is to guarantee financial restraint and conformity to global financial norms. Certain independent financial practices, like the usage of cryptocurrencies, may have to be abandoned or restricted by the loan arrangement. Because of the IMF’s pressure on nations to adopt more conventional monetary practices—like depending on central banks and national currencies—instead of decentralized digital currencies, these loan terms usually lead to a loss of financial sovereignty. But it seems like El Salvador is not going to back down. The government is still giving priority to cryptocurrencies despite the IMF’s restrictions. The nation’s National Bitcoin Office, established in 2021 as a key part of the country’s BTC strategy, reaffirmed its commitment to its long-term BTC plan and stated that no BTC from its reserves will be sold. https://twitter.com/bitcoinofficesv/status/1869899405391999015 El Salvador now has 5,995 BTC in its possession, which is worth around $569.5 million at the time of writing. Their overall reserves are now close to 6,000 BTC after the most recent acquisition of 11 BTC. Approximately $97,000 is the average purchasing price per BTC in the nation. The nation’s dedication to BTC as a long-term investment is demonstrated by recent statistics from its portfolio: Total BTC Holdings: Over $572 million, or around 5,995 BTC. Impact of BTC Price: Due to volatility, the portfolio recently had a $6.08 million decline, which is equivalent to a small decline of $1.02K per BTC. Source: Arkham The balance history graph shows a general upward trend in the value of the reserves, demonstrating steady long-term growth despite transient fluctuations. Notably, 2024 saw a notable increase that began in the middle of the year and continued to rise consistently until December to correspond with the new IMF agreement and the nation’s ongoing BTC purchases. Even in the face of worldwide criticism, El Salvador shows a clear and calculated strategy for maintaining its cryptocurrency holdings by utilizing such strong financial tracking systems. El Salvador has demonstrated its support for the cryptocurrency sector by recognizing its potential to promote financial independence and lessen dependency on global financial institutions. El Salvador’s position is unwavering in the face of obstacles, such as pressure from the IMF . The country’s BTC tree for Christmas 2024 portends a day when cryptocurrencies will not only be embraced but also play a significant role in the nation’s financial destiny. You might also like: Bitget secures Bitcoin service provider license in El Salvador
El Salvador’s festive holiday celebrations amid IMF restrictions. As the country adds to its Bitcoin (BTC) reserve, El Salvador’s Christmas 2024 celebration has a distinctive Bitcoin-themed Christmas tree, further demonstrating the country’s everlasting dedication to the original cryptocurrency. On Dec.…
Vilnius, Lithuania, December 23rd, 2024, Chainwire BingX , a global leading cryptocurrency exchange, has expanded its fiat deposit options with the launch of the SEPA and SEPA Instant payment services for euro deposits. By introducing these new fiat payment options, BingX enables real-time euro deposits at no cost, further streamlining the trading experience for its expanding user base. The Single Euro Payments Area (SEPA) allows BingX users to make seamless euro payments, including credit transfers and direct debits, across the European Union and several non-EU countries, all in a fast, secure, and efficient manner. As an extension of the SEPA network, SEPA Instant is the preferred payment method for euro transactions. While SEPA transfers typically take 1-2 business days, SEPA Instant enables deposits to be processed instantly, even on holidays. By integrating SEPA Instant, BingX ensures its users can enjoy unparalleled speed and convenience in funding their accounts, without any transaction fees. The addition of SEPA Instant brings numerous benefits for BingX users. Traders can now instantly react to market opportunities by immediately funding their accounts if need be. The elimination of these deposit fees offers a cost advantage compared to competing platforms. "Our users deserve efficient and cost-effective solutions," said Vivien Lin , Chief Product Officer of BingX. "By introducing SEPA Instant, we're eliminating delays and fees associated with euro deposits, offering a real-time funding experience. This on-ramp upgrade reflects our ongoing dedication to improving the accessibility and convenience of cryptocurrency trading. Looking ahead, we continue to innovate and expand our services to meet the evolving needs of our global user base, ensuring that they can trade with confidence, speed, and ease, no matter where they are in the world." About BingX Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking a debut in the world of sports. For media inquiries: media@bingx.com For more information users can visit: https://bingx.com/ ContactBingXmedia@bingx.com Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Vilnius, Lithuania, December 23rd, 2024, Chainwire BingX , a global leading cryptocurrency exchange, has expanded its fiat deposit options with the launch of the SEPA and SEPA Instant payment services for euro deposits. By introducing these new fiat payment options, BingX enables real-time euro deposits at no cost, further streamlining the trading experience for its expanding user base. The Single Euro Payments Area (SEPA) allows BingX users to make seamless euro payments, including credit transfers and direct debits, across the European Union and several non-EU countries, all in a fast, secure, and efficient manner. As an extension of the SEPA network, SEPA Instant is the preferred payment method for euro transactions. While SEPA transfers typically take 1-2 business days, SEPA Instant enables deposits to be processed instantly, even on holidays. By integrating SEPA Instant, BingX ensures its users can enjoy unparalleled speed and convenience in funding their accounts, without any transaction fees. The addition of SEPA Instant brings numerous benefits for BingX users. Traders can now instantly react to market opportunities by immediately funding their accounts if need be. The elimination of these deposit fees offers a cost advantage compared to competing platforms. “Our users deserve efficient and cost-effective solutions,” said Vivien Lin , Chief Product Officer of BingX. “By introducing SEPA Instant, we’re eliminating delays and fees associated with euro deposits, offering a real-time funding experience. This on-ramp upgrade reflects our ongoing dedication to improving the accessibility and convenience of cryptocurrency trading. Looking ahead, we continue to innovate and expand our services to meet the evolving needs of our global user base, ensuring that they can trade with confidence, speed, and ease, no matter where they are in the world.” About BingX Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking a debut in the world of sports. For media inquiries: media@bingx.com For more information users can visit: https://bingx.com/ Contact BingX media@bingx.com
Up to this point, 2024 has been rather kind in terms of returns — not to mention the start of the cryptocurrency bull run and the S&P 500 at all-time highs (ATHs), but it is simply the nature of the markets to wax and wane. No uptrend or downtrend lasts forever — and being able to correctly identify that shift is a skill that can net immense profit — or prevent huge losses. It comes as little surprise that investors tend to turn to the experts when it comes to this topic. Although most market analysts are optimistic, one of the most notable dissenting voices is Robert Kiyosaki — author of the bestselling personal finance book ‘Rich Dad Poor Dad’. A noted cryptocurrency and precious metal bull , Kiyosaki has had a slight tone of change recently — now, he expects to see a market-wide crash on a global scale. Robert Kiyosaki turns bearish — but still optimistic on gold and BTC Reflecting on recent events, Kiyosaki claimed that the crash had already started — citing Europe, China, and the United States as regions facing downturns in a December 23 post made on social media platform X. Global crash has started. Europe, China. USA going down . Depression ahead? Please be smarter with your money. Hang on to your job and your money. Biggest problem are our leaders and educators. As I have often asked “What did school teach you about money?” Regardless of… — Robert Kiyosaki (@theRealKiyosaki) December 23, 2024 He urged investors to be smart with their money and keep their jobs — adding that crashes are the best time to get richer for many people. While the author and investor did not reflect on the causes of the crash, in a more far-reaching manner, he pinned the blame on educators — asking ‘What did school teach you about money?’ However, this was Kiyosaki’s most bold and notable prediction: ‘Regardless of which way the economy goes, gold, silver, and Bitcoin hold their value’. While gold and silver are proven hedges, BTC has shown an increasing correlation with the performance of traditional assets as the years go by — and there are more than enough crashes in recent memory to dispute Kiyosaki’s thesis that Bitcoin holds its value no matter what. BTC price historical chart. Source: Finbold What’s more, a crash could easily lead to large-scale BTC liquidation — with investors locking in profits and subsequently redirecting them to now-cheap equities. Is Kiyosaki right about an upcoming crash? Finally, it should be noted that the old analogy of a broken clock being right twice a day very much applies in this instance. Kiyosaki has often been accused of leveraging scaremongering tactics — he has a long history of ‘calling’ market crashes that simply fail to materialize. The S&P 500 price chart with Rober Kiyosaki’s crash predictions up to 2021. Source: @fintwit_news. Predicting market tops and subsequent reversals is such a tall order that no one has been able to do it reliably and on a consistent basis. Even the investors who have the best track record in terms of predictions tend to overshoot — or as a common joke goes, they’ve predicted 20 out of the last 4 crashes. That’s not to say that there isn’t value in Kiyosaki’s line of reasoning — allocating a certain portion of holdings to defensive stocks, hedges like gold and silver, and even diversifying into digital assets like Bitcoin can serve to reduce risk — provided that it is done sensibly. Disclaimer: The featured image in this article is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted. The post Robert Kiyosaki warns ‘Global crash has started’ appeared first on Finbold .
Vilnius, Lithuania, December 23rd, 2024, Chainwire BingX , a global leading cryptocurrency exchange, has expanded its fiat deposit options with the launch of the SEPA and SEPA Instant payment services for euro deposits. By introducing these new fiat payment options, BingX enables real-time euro deposits at no cost, further streamlining the trading experience for its expanding user base. The Single Euro Payments Area (SEPA) allows BingX users to make seamless euro payments, including credit transfers and direct debits, across the European Union and several non-EU countries, all in a fast, secure, and efficient manner. As an extension of the SEPA network, SEPA Instant is the preferred payment method for euro transactions. While SEPA transfers typically take 1-2 business days, SEPA Instant enables deposits to be processed instantly, even on holidays. By integrating SEPA Instant, BingX ensures its users can enjoy unparalleled speed and convenience in funding their accounts, without any transaction fees. The addition of SEPA Instant brings numerous benefits for BingX users. Traders can now instantly react to market opportunities by immediately funding their accounts if need be. The elimination of these deposit fees offers a cost advantage compared to competing platforms. “Our users deserve efficient and cost-effective solutions,” said Vivien Lin , Chief Product Officer of BingX. “By introducing SEPA Instant, we’re eliminating delays and fees associated with euro deposits, offering a real-time funding experience. This on-ramp upgrade reflects our ongoing dedication to improving the accessibility and convenience of cryptocurrency trading. Looking ahead, we continue to innovate and expand our services to meet the evolving needs of our global user base, ensuring that they can trade with confidence, speed, and ease, no matter where they are in the world.” About BingX Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking a debut in the world of sports. For media inquiries: media@bingx.com For more information users can visit: https://bingx.com/ Contact BingX media@bingx.com