The cryptocurrency market's prevailing 'Fear' sentiment is taking a heavy toll on major coins, with privacy-focused Hyperliquid (HYPE) experiencing a sharp decline. After a brief rally in October, HYPE has broken key support levels, currently trading around $29.04, representing a 12.76% weekly drop. Its market capitalization and trading volume have also fallen by 5.62% and 9.23% respectively in the last 24 hours.
Prominent analyst Ali Martinez warns of further potential declines, suggesting HYPE could fall to $24 and possibly even $16 if it continues forming a rounding top pattern. The token's weakness is partly attributed to a recent unlock of 9.9 million tokens, which created market oversupply despite the team's $600 million buyback program. Traders are now watching the critical $33-$35 level, with a break below potentially leading to further declines towards $28.
In stark contrast, the Digitap ($TAP) presale is gaining momentum, raising over $2.3 million. The project's appeal lies in its live omnibank application, which allows users to store, manage, and spend both crypto and fiat currencies from a single account. Key features include a Visa-backed crypto card for global spending and an AI-powered routing system that claims to reduce average payment fees from 6.2% to under 1%.
The $TAP token is currently in presale at $0.0361, with the next stage priced at $0.0371 and a planned launch price of $0.14. The project reports over 120,000 connected wallets to its zero-KYC app and offers staking rewards of up to 124% APR during the presale. Experts position Digitap not just as a high-return investment opportunity but as a potential disruptor in the global fintech and banking landscape, attracting what the articles term 'smart money' investors seeking utility-driven projects during broader market uncertainty.
