Hyperliquid Soars: Record Airdrop and Whale Investments Propel HYPE to New Heights

Decentralized Innovation: Hyperliquid's Success and Market Activity Boost

Recent developments surrounding Hyperliquid (HYPE) in December 2024 have significantly impacted its market presence and liquidity. On November 29, the platform executed a massive airdrop, distributing 310 million HYPE tokens, which created a lot of excitement and boosted trading activity. On December 20, Bitget Wallet integrated the HyperEVM testnet, allowing users to use HYPE tokens for gas fees and various DeFi activities, such as lending and staking, which is expected to improve liquidity. As of December 19, HYPE's market capitalization was about ₹71,395 crore (around $8.6 billion), with a token price of ₹2,095, showing a daily increase of 1.64%. The successful airdrop and price movements have built a strong community around Hyperliquid. The platform aims to offer a decentralized trading experience, appealing to both new and experienced traders. Analysts believe that if current trends continue, HYPE could appreciate further as more users engage with the platform. Overall, Hyperliquid's innovative strategies and community initiatives suggest potential for future growth in the DeFi space.

Whale Activity: Major Investments Signal Confidence in HYPE

In December 2024, large investors, or “whales,” made big moves in Hyperliquid (HYPE) by depositing nearly $14 million USDC. One whale contributed $9.66 million to purchase 166,913 HYPE tokens and 6.48 million PURR tokens, while another added $4.26 million for 125,252 HYPE tokens. Since December 7, one whale has spent $17.08 million on about 1.02 million HYPE tokens, showing strong confidence in the token’s future. These activities have created a positive feeling around HYPE, driving its price to an all-time high of about $29. Overall, Hyperliquid has seen over $1 billion in net inflows since its launch, with total value locked reaching around $3 billion. The strong interest from whales reflects confidence in the project and suggests potential for further growth.

Market Analysis: Trends and Future Price Projections for HYPE

HYPEUSD pared some of its gains after a massive surge. It holds well above the short-term (34 and 55 EMA) and long-term moving averages. It hit a low of $21.70 yesterday and is currently trading around $23.75. The bullish invalidation can happen if the pair closes below $13. On the lower side, the near-term support is at $18. Any break below targets $15/$13/$10. The immediate resistance stands at around $28. Any breach above confirms a minor pullback. A jump to $35/$40 is possible. A surge past $40 will take it to $50.

It is a good strategy to buy on dips around $18 with a stop-loss around $13 and a target price of 34/34/40.