HYPE could dip to $23 amid declining staking balance: Check forecast
The post HYPE could dip to $23 amid declining staking balance: Check forecast appeared on BitcoinEthereumNews.com.
Key takeaways HYPE is down 5% in the last 24 hours and is currently trading at $27. The coin could drop to $23 if the bearish trend continues. Hyperliquid’s staking balance declines HYPE, the native coin of the Hyperliquid decentralized exchange, is one of the worst performers among the top 20 cryptocurrencies by market cap. The coin is trading above $27 per coin after losing 5.8% of its value in the last 24 hours. The bearish performance comes after the Federal Reserve delivered a hawkish red cut on Wednesday. According to market analysts, with further rate cuts now off the table for a while, attention will turn to liquidity and the Fed’s balance sheet policy in early 2026. However, despite the Treasury bill purchase announced today, QE isn’t coming until things start breaking – and that always means more volatility and potential pain. Another major catalyst behind HYPE’s bearish performance is the decline in Hyperliquid’s Total Value Locked (TVL). The protocol’s TVL has dropped to $1.63 billion from $2.42 billion on October 30. Investors continue to pull their funds from staking contracts on the Hyperliquid chain, adding more selling pressure on HYPE. Falling TVL suggests that investors are losing confidence in the token and ecosystem, prompting them to reduce their risk exposure. Furthermore, the demand for Hyperliquid derivatives has declined due to the current market conditions. According to Coinalyze, HYPE’s Open Interest (OI) has dropped to $1.3 billion, down 2.5% from the $1.48 billion recorded on Wednesday. It is also significantly below its record high of $2.59 billion reached in September, suggesting that low retail interest in HYPE could continue to suppress a recovery. Will HYPE continue to dip lower? The HYPE/USD 4-hour chart is bearish and efficient as HYPE has underperformed over the last 24 hours. The Layer-1 blockchain…
