HYPE (Hyperliquid) fell 5.23% in the last 24 hours, with a current market capitalization of 12.638 billion USD.

Gate News Bot news, on November 14, according to CoinMarketCap data, HYPE (Hyperliquid) is currently priced at $37.54, having fallen 5.23% in the last 24 hours, with a high of $43.24 and a low of $36.44. The 24-hour volume reached $497 million. The current market capitalization is approximately $12.638 billion, a decrease of nearly $697 million compared to yesterday.

Important news about HYPE recently:

1️⃣ Hyperliquid platform encountered suspected malicious manipulation An operator withdrew 3 million USDC from the exchange and dispersed it into 19 wallets, subsequently making large buy and sell orders of POPCAT tokens in a short period, causing Hyperliquid to take over positions and incur a loss of approximately 4.9 million dollars. This incident highlights the security challenges faced by decentralized trading platforms, which may affect investors' confidence in the HYPE ecosystem.

2️⃣ The platform has suspended deposit and withdrawal services for system maintenance Hyperliquid officially announced a system maintenance, temporarily suspending the deposit and withdrawal functions of the platform. This measure may be a direct response to the aforementioned manipulation incident, aimed at enhancing the platform's security and stability. Although it may affect user experience in the short term, it is beneficial for improving the overall security of the platform in the long run.

3️⃣ Large institutions continue to increase their holdings of HYPE tokens The well-known investment firm Paradigm recently staked 14.7 million HYPE tokens, worth approximately $581 million, and transferred 3.02 million HYPE to Hyperevm. In addition, Paradigm currently holds 1.41 million un-staked HYPE tokens. This indicates that large institutional investors still have confidence in HYPE, which may provide support for the token price.

From a technical perspective, the HYPE price has encountered resistance around $43 and is currently hovering around $37-38. Investors should pay attention to whether the support level of $37-38 can be effectively maintained. Fundamentally, although the platform has experienced security incidents, continued investment from large institutions may provide some support for HYPE. However, the platform's suspension of certain services may lead to short-term volatility.

This message does not constitute investment advice; investors should be aware of market volatility risks.