Hyperliquid (HYPE) Rolls Out HyperEVM — Will It Reverse the Downtrend?…

Hyperliquid Introduces HyperEVM to Improve DeFi Programmability

The Hyper Basis, the crew behind the decentralized finance (DeFi) protocol Hyperliquid, has launched HyperEVM, aiming to combine general-purpose programmability into its monetary ecosystem. This mainnet launch incorporates HyperEVM blocks into Layer 1 execution, leveraging the safety of HyperBFT consensus. 

It facilitates spot transfers between native and HyperEVM HYPE tokens, with HYPE serving because the native fuel token. A system contract, WHYPE, has been deployed to help DeFi purposes on the platform. Whereas preliminary tooling and analytics could require refinement, the muse is collaborating with builders to boost these elements. 

Future upgrades are set to allow ERC20 native transfers and precompiles, at the moment beneath neighborhood overview within the testnet section. Since its HYPE token airdrop in November 2024, Hyperliquid has seen vital progress, with the token’s worth rising from $three.90 to roughly $26. In January, the platform reported $51.41 million in income and a complete worth locked (TVL) exceeding $677 million.

HYPE Worth Evaluation 

HYPE has adopted a five-wave Elliott Wave construction, peaking close to $35 on Dec. 22 earlier than getting into a corrective WXY sample. The descending channel initiated after wave 5 completion resulting in a low of $18.80 on Jan 13. The value motion has since oscillated inside a broadening wedge, indicating consolidation earlier than a breakout.