While the vast majority of the crypto sector plunged in value over the weekend, one of the top 20 altcoins resisted the hemorrhage and posted massive gains.
HYPE, the native asset of decentralized exchange (DEX) Hyperliquid, has skyrocketed more than 40% in the past seven days.
In comparison, the overall crypto market cap fell by almost 9% during the same period, according to CoinGecko data.
HYPE’s hot streak continued on Monday, with the crypto asset ranked 20th by market capitalization up more than 13% at the time of writing.
Some of these recent gains materialized after Hyperliquid announced Monday that its trading engine, HyperCore, would support outcome trading contracts, which can be used for prediction markets.
Explain the project,
“The results provide non-linearity, dated contracts, and an alternative form of derivatives trading that does not involve leverage or liquidations. The result primitive expands the expressiveness of HyperCore, while working with other primitives such as portfolio margin and HyperEVM.
The results are a work in progress and currently tested only on testnet. Canonical markets based on objective settlement sources will be deployed once technical development is complete. Canonical markets will be denominated in USDH. Pending user feedback, the infrastructure will be extended to permissionless deployment.
HYPE is trading at $33.06 at the time of writing.
Follow us on X, Facebook and Telegram
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Surf the daily Hodl mix
(adinserter block=”1″) (adinserter block=”5″)
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
