The post Hyperliquid’s HYPE Drops to 7-Month Low, Here’s Why appeared on BitcoinEthereumNews.com. Hyperliquid’s HYPE token slid to a seven-month low as the market reacted to a steep decline in the protocol’s dominance and renewed concern over recent token movements. According to BeInCrypto data, the token dropped more than 4% in the past 24 hours to $29.24, its weakest level since May. Sponsored Sponsored Why is HYPE Price Falling? CoinGlass data showed that the drop triggered more than $11 million in liquidations, adding to pressure on a market already turning cautious. The shift marks a stark reversal for a protocol that once controlled the on-chain perpetuals market. Earlier in the year, Hyperliquid dominated the decentralized perpetuals market with near-total authority. However, that edge has faded. Data from DeFiLlama reveals a staggering erosion of its dominance, with the protocol’s share of the perpetuals market cratering from a peak of nearly 70% to less than 20% at press time. Hyperliquid’s Falling Market Dominance. Source: DeFiLlama This can be linked to the emergence of more aggressive rivals, such as Aster and Lighter, which have successfully siphoned volume through superior incentive programs. As a result, investors are rapidly repricing HYPE and are no longer viewing it as the sector’s inevitable winner but as a legacy incumbent bleeding users. Sponsored Sponsored Simultaneously, internal token movements have rattled confidence. Blockchain analytics firm Lookonchain reported last month that team-controlled wallets unstaked 2.6 million HYPE, valued at roughly $89 million. While the team restaked roughly 1.08 million tokens, the market fixated on the outflows. A total of 900,869 HYPE remained liquid in the wallet, and another 609,108 HYPE, worth about $20.9 million, moved to Flowdesk, a prominent market maker. The project also sold an additional 1,200 tokens for about $41,193 in USDC. These events have had a psychological toll on the community. As a result, HYPE has shed nearly 30% of… The post Hyperliquid’s HYPE Drops to 7-Month Low, Here’s Why appeared on BitcoinEthereumNews.com. Hyperliquid’s HYPE token slid to a seven-month low as the market reacted to a steep decline in the protocol’s dominance and renewed concern over recent token movements. According to BeInCrypto data, the token dropped more than 4% in the past 24 hours to $29.24, its weakest level since May. Sponsored Sponsored Why is HYPE Price Falling? CoinGlass data showed that the drop triggered more than $11 million in liquidations, adding to pressure on a market already turning cautious. The shift marks a stark reversal for a protocol that once controlled the on-chain perpetuals market. Earlier in the year, Hyperliquid dominated the decentralized perpetuals market with near-total authority. However, that edge has faded. Data from DeFiLlama reveals a staggering erosion of its dominance, with the protocol’s share of the perpetuals market cratering from a peak of nearly 70% to less than 20% at press time. Hyperliquid’s Falling Market Dominance. Source: DeFiLlama This can be linked to the emergence of more aggressive rivals, such as Aster and Lighter, which have successfully siphoned volume through superior incentive programs. As a result, investors are rapidly repricing HYPE and are no longer viewing it as the sector’s inevitable winner but as a legacy incumbent bleeding users. Sponsored Sponsored Simultaneously, internal token movements have rattled confidence. Blockchain analytics firm Lookonchain reported last month that team-controlled wallets unstaked 2.6 million HYPE, valued at roughly $89 million. While the team restaked roughly 1.08 million tokens, the market fixated on the outflows. A total of 900,869 HYPE remained liquid in the wallet, and another 609,108 HYPE, worth about $20.9 million, moved to Flowdesk, a prominent market maker. The project also sold an additional 1,200 tokens for about $41,193 in USDC. These events have had a psychological toll on the community. As a result, HYPE has shed nearly 30% of…

                                                                               Robinhood acquired an Indonesian brokerage and digital asset trading firm to access a market with 17 million crypto investors.                     Crypto and stock trading platform Robinhood is set to tap into Indonesia’s burgeoning cryptocurrency trading market after an agreement to acquire two local fintech companies.In an announcement on Sunday, Robinhood said it has entered into agreements to acquire Buana Capital, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader, “marking our entry into one of Southeast Asia’s fastest-growing markets.”It said that Indonesia has more than 19 million capital market investors and 17 million crypto investors, making it a “compelling market for equities and crypto trading.”Read more