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The Hyperliquid price has jumped 7% in the last 24 hours to trade at $29.28 as of 12:32 a.m. EST on a 12% drop in trading volume to $549 million.
This surge in price comes despite growing concerns over Hyperliquid’s security and centralization amid signs that the notorious North Korean Lazarus Group was active on the platform.
In the last 30 hours, net outflows from Hyperliquid exceeded $256 million, with December 23 alone seeing $502.71 million in outflows and $253.5 million in inflows.
Hyperliquid denied any exploit or compromise, stating on its Discord server that all user funds were secure.
DPRK's trading career is…uh….going…..🙈
tbh if i was the dude managing Hyperliquid's 4 validators (or those fucking ghetto ass binaries on gh) I would be shitting my pants right now.
Hyperliquid dudes dont seem worried at all though so im sure its fine. 🫠 pic.twitter.com/JrrU7t1sJe
— Tay 💖 (@tayvano_) December 22, 2024
North Korean hackers, including the notorious Lazarus Group, have escalated their crypto thefts in recent times, stealing $1.3 billion this year, doubling last year’s amount.
MetaMask’s Taylor Monahan criticized on X Hyperliquid’s centralized infrastructure, which relies on only four validators, sparking mixed reactions from the crypto community.
While some users accused Monahan of fearmongering, others supported the concerns, emphasizing the gravity of North Korea-linked activity on the platform.
Hyperliquid Price Rebounds On A Strong Support
The HYPE/USDT chart on KuCoin, displayed in a 1-hour timeframe, shows the current price at $29.96, reflecting a modest 2.03% increase. Key support and resistance zones, along with moving averages and RSI levels, highlight significant price levels and potential market movements.
The price recently rebounded from a major support zone between $26 and $27, indicating strong buying interest in this region. Above this, the $28 level has acted as minor support, helping to sustain the upward momentum.
HYPEUSDT Analysis Source: Tradingview
On the upside, the $35–$36 range is a critical resistance zone. A breakout above this level could confirm a bullish continuation, potentially paving the way for the price to rally toward the $40 mark. The moving averages further support the bullish narrative. The 50-simple moving average at $27.79 has crossed above the 200-moving average at $29.46, forming a bullish crossover that typically signals an uptrend.
The Relative Strength Index (RSI) is currently at 57.09, suggesting bullish momentum while remaining below the overbought threshold of 70. This indicates room for further price appreciation before a potential pullback. However, if the price exceeds the $29–$30 range, it may revisit the major support zone near $27.
The bullish reversal, supported by the breakout above minor resistance and favorable technical indicators, positions Hyperliquid for further gains. The immediate target is $35, potentially reaching $40 if the resistance is successfully breached.
Best Wallet Presale Soars Past $5.5 Million
As the Hyperliquid price continues its next leg up, excitement is building around the Best Wallet ($BEST) presale, which has just surged past $5.5 million in funding.
According to an analyst on the 99 Bitcoins YouTube channel, with over 719k subscribers, $BEST has the potential to offer easy massive gains when it launches
Best Wallet is a gateway to the Web3 world, combining a decentralized exchange (DEX), wallet features, and essential tools for managing digital assets, all in one sleek and easy-to-use platform.
One of its standout features is the “Upcoming Tokens” section, which highlights promising tokens before they launch. For instance, Pepe Unchained ($PEPU) was flagged early to users and surged by 591% after its debut.
🚨 $PEPU Claim is Now LIVE! 🚨
The wait is over! You can now claim your $PEPU tokens directly within Best Wallet or by visiting the @pepe_unchained website.
📍 Claim Website: https://t.co/AtdfdNNPeV
Start Claiming Now! pic.twitter.com/A7KovigigB
— Best Wallet (@BestWalletHQ) December 10, 2024
Best Wallet also offers holders who stake their BEST tokens a huge annual return of 410%.
Right now, you can grab $BEST tokens for just 0.023325. Interested investors should buy before a price hike in less than 27 hours.
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- Access DeFi and Web3 Dapps Across Multiple Chains
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