The Official Trump coin price has seen a sharp move to the upside, climbing about 18% in 24 hours to $2.02.

The rally has stood out because the broader crypto market gained only about 1.02%, meaning the token significantly outpaced overall market momentum.

Trading activity also picked up significantly, with 24-hour volume surging to roughly $455 million, while futures positioning showed rising interest.

This combination of price expansion and elevated participation has placed the Official Trump memecoin back into active focus among short-term traders.

Why is the Official Trump coin price rising?

The latest surge in the Official Trump coin price is largely being driven by event-based speculation tied to former US President Donald Trump’s upcoming birthday on June 14.

Traders have been accumulating positions in anticipation of possible social media activity or announcements around the date, creating a strong narrative-driven rally.

This type of trading behaviour has historically been common in meme-driven tokens, where sentiment and timing often outweigh fundamentals.

In this case, expectations of increased attention surrounding the birthday event have acted as a short-term catalyst, pushing demand higher across both spot and derivatives markets.

Data from recent trading activity supports this view, with spot trading volume increasing by around 149% within 24 hours, while futures open interest also rose by approximately 18%, showing that leveraged positions are actively being added rather than closed.

This suggests traders are not only buying the asset outright but are also using derivatives to amplify exposure to the ongoing momentum.

Another factor supporting the move is broader speculative sentiment across the cryptocurrency market. Some traders are interpreting strength in meme coins such as the Official Trump coin as an early signal of improving risk appetite.

This has led to additional inflows, particularly into high-volatility assets where short-term gains can be more pronounced.

Official Trump coin price forecast

The near-term outlook for the Official Trump coin price will likely depend on how it reacts around key technical levels and the upcoming June 14 event window.

At present, traders should closely watch $2.20 as the immediate resistance level.

This price zone has acted as a ceiling during recent trading sessions, and a clean break above it could open the path toward the next upside target near $2.50.

If buying pressure continues and volume remains elevated above the current daily average of roughly $400 million, momentum could extend further as short-term traders follow the breakout structure.

In this scenario, price action would likely remain driven by sentiment and event expectations rather than longer-term fundamentals.

On the downside, the most important support level sits near $1.574. This level has been identified as the threshold that keeps the current bullish structure intact.

A failure to hold above this zone could trigger rapid profit-taking, especially if leveraged long positions begin to unwind.

The post Here’s why the Official Trump coin price just jumped 18% appeared first on CoinJournal.

• Rising supply and weak technical indicators could pressure PI toward key support at $0.1184. 
• Around 16 million PI tokens are set to be unlocked on Thursday, with another 14.8 million becoming eligible for mainnet migration on Friday, potentially increasing selling pressure. 

Pi Network (PI) traded lower on Thursday after suffering three consecutive days of losses earlier in the week. The token remains locked in a broader downtrend that has persisted since late April.

The recovery faces a significant near-term challenge as millions of new PI tokens are scheduled to enter circulation, potentially increasing selling pressure and limiting upside momentum.

Major token unlocks could increase supply pressure

According to PiScan data, approximately 16 million PI tokens are scheduled to be unlocked on Thursday.

A further 14.8 million PI tokens are expected to become eligible for mainnet migration on Friday, adding to concerns about rising circulating supply.

The newly unlocked tokens can potentially be transferred to centralized exchanges, increasing the likelihood of additional selling activity.

Historically, large token unlock events often create short-term downward pressure as investors gain access to previously restricted holdings.

Network activity also points to notable withdrawals among major wallets. PiScan data shows that three of the five largest transactions recorded over the past 24 hours involved the movement of approximately 255,000 PI tokens.

PI technical outlook remains bearish

At the time of writing, PI is trading above $0.1250, but the broader technical picture remains weak.

The token continues to trade below key moving averages (50-day, 100-day, and 200-day) on the four-hour chart.

The clustering of these indicators above the current price suggests that sellers continue to control the broader trend.

Technical momentum signals offer little evidence of a strong recovery. The RSI is hovering near 43, indicating weak buying pressure and a lack of strong bullish momentum.

The Moving Average Convergence Divergence (MACD) and signal line remain slightly below zero, reflecting ongoing bearish conditions despite the recent rebound.

Together, these indicators suggest that any short-term rallies could face difficulty sustaining momentum.

If the rally resumes, PI would need to overcome the $0.1299 resistance to enable it to target the higher supply zones at $0.1360 (100-period EMA) and $0.1400.

However, if the bearish trend persists, the bulls will need to defend the core support levels at $0.1184 and $0.1000. 

A break below $0.1184 could expose PI to further downside and potentially trigger a move toward the $0.1000 region.

While Pi Network has managed to stabilize after several days of losses, the combination of weak technical momentum and substantial upcoming token unlocks continues to favor the bears.

Unless demand strengthens enough to absorb the incoming supply, the current rebound risks becoming a temporary relief rally, with the recently established $0.1184 support level remaining the critical line to watch in the days ahead.

The post PI remains bearish as token unlocks threaten recovery appeared first on CoinJournal.

Audiera (BEAT) has become one of the most talked-about tokens in the digital asset market after recording an explosive move that pushed its price from below $1 levels earlier in the month to a recent high near $9.2053 on MEXC.

At its current trading range around $9.0708, the token is up more than 61% in a single day and has gained over 1,400% across the monthly timeframe.

The scale and speed of this move have placed BEAT among the strongest-performing crypto assets.

What is Audiera (BEAT)?

Audiera is a blockchain-based entertainment project built around music creation, rhythm gaming, and AI-powered content tools.

The ecosystem is designed to merge interactive gaming experiences with digital music production and on-chain ownership of assets such as NFTs.

The BEAT token acts as the central utility asset within this environment, and it is used for in-game transactions, creator rewards, subscription access, governance voting through staking mechanisms, and participation in platform-driven rewards.

The project also introduces AI agents designed to assist with music generation and user interaction inside the ecosystem.

Why has BEAT surged more than 1400% in a month?

The BEAT price has not been driven by a single factor.

Instead, it has developed through a combination of derivatives activity, market positioning, and ecosystem-related developments that aligned at the same time.

1. A major short squeeze in derivatives markets

One of the strongest drivers behind the price surge has been a large-scale short squeeze.

As BEAT’s price moved sharply higher, over $11 million in short positions were liquidated across derivatives exchanges.

These forced buybacks created additional upward pressure, accelerating the price movement.

During the same period, open interest rose by approximately 35.44% to around $303.5 million.

This indicates that leveraged positions were actively being built even as volatility increased, creating conditions for further liquidation cascades.

The combination of rising open interest and forced liquidations created a feedback loop where buying pressure was not entirely organic but heavily influenced by leveraged market structure.

2. BEAT token burn mechanism

Audiera is currently conducting a weekly token burn of 770,545 BEAT, funded by approximately $2.9 million in platform revenue.

$BEAT Revenue & Burn Update 🔥

Jun 1 – Jun 8, 2026

🔥 770,545 $BEAT burned
📈 772,045 $BEAT weekly revenue (2,866,231 USDT)

Total burned: 12,353,034 $BEAT
Over 12.35M $BEAT permanently removed from circulation.

1 $BEAT = 3.712 USDT (Jun 8, 2026)

Burn tx:… pic.twitter.com/ttaXnW5uui

— Audiera🟣🎵 (@Audiera_web3) June 8, 2026

This burn mechanism aims at reducing the circulating supply over time and is part of the broader narrative surrounding demand and deflationary pressure within the ecosystem.

Audiera (BEAT) price forecast

BEAT’s current structure shows a market that is still heavily influenced by leverage-driven flows and short-term momentum trading.

The key technical level for traders to watch is $7.50, which previously acted as resistance and has now become an important support zone.

As long as BEAT holds above $7.50, price action may continue consolidating within a wide range while volatility remains elevated.

Sustained stability above this level keeps the structure intact for potential continuation attempts toward the $9.40 region, where previous highs were established.

A breakout above the $9.40–$9.50 zone would place price discovery back into play, with extensions historically projected toward the $15 area based on prior momentum cycles.

However, seeing that the RSI is heavily oversold at 97.16, we could see a pullback as the market cools after the massive rally.

If the pullback happens and $7.50 is breached, we could see forced liquidations, which could accelerate a move toward the $6.00 region.

In a deeper correction scenario, particularly if open interest contracts sharply decline while price declines, extended downside projections have been observed toward the $3.70 area, reflecting a full unwind of the earlier leveraged move.

The post What is Audiera (BEAT) and why has its price surged more than 1400% in a month? appeared first on CoinJournal.

• XRP continues to consolidate around the $1.10 mark.
• The bulls are holding the price above the $1.05 support level.

Ripple’s XRP is trading lower on Thursday, staying around $1.10 as the token attempted to reverse a downtrend that has persisted since mid-May. 

The downtrend comes as institutional demand for XRP-linked investment products continues to strengthen, even as retail traders remain cautious amid ongoing geopolitical tensions.

Geopolitical uncertainty continues to weigh on markets

Risk sentiment remains fragile as tensions between the United States and Iran continue to escalate.

Recent developments have included renewed military exchanges between the two nations, with US President Donald Trump stating that Iran has been slow to agree to a peace deal. Following those remarks, the US military conducted additional strikes that it described as defensive actions.

Iran’s Islamic Revolutionary Guard Corps (IRGC) subsequently launched attacks targeting US military facilities in Kuwait, Bahrain, and Jordan.

The uncertainty has contributed to volatility across financial and cryptocurrency markets, limiting investor risk appetite.

Despite the uncertain macro environment, institutional investors continue to add exposure to XRP.

Data from CoinGlass shows that XRP spot ETFs attracted nearly $1.2 million in net inflows on Wednesday, following approximately $7.44 million in inflows on Tuesday.

According to CoinGlass data, XRP futures Open Interest (OI) stood at approximately $2.43 billion on Thursday.

A falling Open Interest environment typically signals reduced speculative activity and limited conviction among short-term market participants.

XRP price analysis: Recovery attempt faces major resistance

XRP is currently trading around $1.10, but the broader technical picture remains bearish.

The token continues to trade below several major trend indicators. Remaining below all three moving averages suggests that the longer-term downtrend remains intact.

Technical momentum indicators suggest selling pressure is easing, but not yet reversing.

The RSI is hovering near 44, indicating weak demand while remaining just above oversold territory.

The Moving Average Convergence Divergence (MACD) histogram remains in negative territory, signaling that bearish momentum continues to dominate despite the recent bounce.

If the bulls regain control, XRP could surge towards the 50-day EMA at $1.30, with additional hurdles at $1.40 and $1.61. 

A break above $1.26 would be the first sign that bullish momentum is beginning to strengthen.

However, if the bearish trend persists, XRP could retest the $1.05 support level before dropping below $1.0 to test lower demand zones at $0.95

XRP’s latest rebound is being supported by steady ETF inflows and growing institutional interest. However, declining futures activity, persistent geopolitical uncertainty, and a bearish technical structure suggest that the recovery remains tentative.

The post XRP stays around $1.10 as ETF inflows persist appeared first on CoinJournal.

KuCoin has launched a new global football-themed cryptocurrency campaign, offering users the chance to compete for a reward pool of up to 1.4 million USDT across its ecosystem.

The campaign, called KuCoin Crypto Cup, runs from June 11 to July 20, 2026, and is designed to connect multiple areas of the platform, including trading, payments, asset management, and mining rewards.

The initiative comes as cryptocurrency platforms increasingly seek to expand digital asset use cases beyond trading and into broader financial and everyday applications.

According to KuCoin, the campaign is inspired by the energy and competition of the global football season and aims to provide users with multiple participation paths across different products and services.

Building on the momentum of PROOF

KuCoin Crypto Cup follows the company’s recent PROOF campaign, which generated more than 1.8 billion USDT in total trading volume and attracted over 120,000 participants.

One of the most notable elements of that campaign was the Tomorrowland Grand Raffle Draw.

KuCoin said the promotion attracted more than 47,000 participants and generated over 1 billion USDT in trading volume.

The exchange said the campaign demonstrated how digital asset engagement could be linked to globally recognized cultural events.

By combining cryptocurrency participation with access to exclusive Tomorrowland experiences, the initiative sought to create deeper engagement among users.

KuCoin is now applying a similar approach to its latest football-themed promotion.

The company described the initiative as being built around the message: “One Trophy on the Field. Up to 1,400,000 USDT for Every Type of Trader.”

A multi-product ecosystem campaign

Unlike campaigns focused solely on trading activity, KuCoin Crypto Cup integrates several products across the platform into a single user journey.

The campaign includes participation opportunities through Futures, VIP Premier +, KuCoin Pay, KuCard, Spot, Margin, Earn and KuMining.

KuCoin said the initiative is designed to bring together market access, trading opportunities, real-world crypto utility, asset management tools and mining-related rewards under one campaign structure.

The company added that the program is intended to support different types of users rather than focusing exclusively on high-volume traders.

Participation opportunities span active trading, everyday spending, asset management and mining-related activities.

According to KuCoin, the campaign reflects its broader objective of making digital assets more accessible, useful and rewarding for users around the world.

Rewards across the football season

The campaign will follow a football-inspired structure, progressing through stages ranging from the Group Stage to the Final Whistle.

During the event, users can participate in team trading competitions, individual challenges, lucky draws, spending activities, milestone tasks and KuMining reward programs.

The largest reward categories include a 500,000 USDT Futures main tournament and a 500,000 USDT VIP Premier + reward pool.

Additional incentives include up to 150,000 USDT in Spot and Margin rewards, Earn rate-up coupons, cash rewards, KuMining hardware incentives, hashrate rewards and purchase-based rewards.

Users can also access cashback opportunities through KuCoin Pay and KuCard.

Eligible users can participate in KuCoin Crypto Cup through the platform during the campaign period, with detailed reward rules and eligibility requirements available through the exchange.

The post KuCoin launches Crypto Cup with up to 1.4M USDT in rewards appeared first on CoinJournal.

Travala has launched what it describes as the world’s first end-to-end agentic AI travel protocol, allowing autonomous artificial intelligence agents to search, book, and pay for travel services with minimal human involvement.

The Singapore-based travel booking platform said the new protocol enables AI agents to access more than 2.2 million hotel listings, including properties operated by major brands such as Marriott, Hilton, and IHG.

The system allows agents to complete the entire booking process independently until final payment authorization is required from the user.

The launch comes as interest in agentic AI continues to grow across industries.

According to Travala, the total value of agentic commerce transactions is projected to reach $8 billion in 2026 and expand to an estimated $3.5 trillion by 2031.

The company also cited Morgan Stanley Research, which forecasts that autonomous “agentic shoppers” could account for up to 20% of all online retail spending by 2030.

Protocol aims to automate travel bookings

At the center of the initiative is the Travala Travel MCP, a Model Context Protocol designed specifically for agentic commerce.

The protocol operates on the Base blockchain and uses the x402 protocol, an open payments standard designed to facilitate direct stablecoin payments between applications, APIs, and AI agents.

According to Travala, the infrastructure enables gasless USDC transactions on Base, with settlement occurring almost instantly and transaction costs of roughly $0.01 per booking.

For consumers, the technology powers an AI travel concierge that can plan, book, and manage trips through a single conversation within Claude.

The company said the system maintains context across searches, bookings, and cancellations, creating a more seamless travel-planning experience.

Travala added that security is maintained through ERC-7715 session keys, ensuring that AI agents can initiate payment requests while final transaction approval remains under the user’s control.

Developer incentives built into the platform

To encourage adoption, Travala has introduced a developer rebate program tied to the new protocol.

Developers who build and integrate AI agents with the Travala Travel MCP will receive a 10% rebate in Coinbase Wrapped Bitcoin (cbBTC) for successful bookings completed through their applications.

The rebates will be settled directly onchain to developers’ wallets.

The protocol also incorporates ERC-8004 technology, which the company said links an agent’s reputation to verified real-world outcomes.

Travala said this creates a machine-verifiable trust layer intended to reward high-performing agents and support ecosystem integrity.

Company sees broader role in agentic commerce

Travala plans to expand the protocol over time by adding new travel products, including flights.

The company also said its native AVA token is expected to gain additional utility as adoption of the Travel MCP grows.

“The launch of the world’s first agentic AI travel protocol marks the death of the checkout button and the beginning of a truly autonomous travel economy,” said Juan Otero, CEO of Travala. “By combining our global travel inventory with the industry’s first machine-to-machine settlement protocol, we’re effectively hardcoding Travala as the default travel rail for the agentic web.”

Sam Frankel, Head of Partnerships at Base, also highlighted the significance of the launch.

“Base is built to be the home of the onchain economy, and Travala’s Travel MCP is exactly what that looks like in practice, devs using our infrastructure to power machine-to-machine commerce that’s seamless, autonomous, and global. We’re thrilled to see Travala lead the charge on real-world use cases for agentic payments,” he said.

The post Travala launches first agentic AI travel protocol for autonomous bookings appeared first on CoinJournal.

• ADA remains under pressure after last week’s 30% sell-off
• The coin could dip lower if the bearish trend in the market persists.

Cardano (ADA) continues to struggle on Wednesday, trading near $0.1600 and extending losses following last week’s sharp 30% decline. 

The cryptocurrency remains under intense selling pressure as investor confidence weakens and retail participation fades.

Despite the bearish backdrop, on-chain data suggests that selling activity from long-term holders may be approaching exhaustion, potentially laying the groundwork for a future recovery.

Dormant supply spike suggests capitulation among long-term holders

Recent on-chain data from Santiment shows a significant surge in dormant ADA supply re-entering circulation during early June.

Several spikes in dormant supply spent exceeded 20 billion ADA, culminating in a massive 40.6 billion ADA movement on June 9, the largest recorded spike during the current sell-off.

This wave of activity indicates that long-term holders who had previously remained inactive chose to move or sell their holdings amid market weakness. 

The surge also interrupted the growth in the average age of ADA wallets, confirming that dormant addresses became active again.

While further selling from long-term holders remains possible, such spikes are often viewed as capitulation events that signal the exhaustion of selling pressure and frequently precede market bottoms.

Retail sentiment toward Cardano has deteriorated significantly following last week’s decline.

Derivatives data highlights the decline in speculative demand. According to CoinGlass, Cardano futures Open Interest (OI) has dropped to $348.55 million, its lowest level since November 2024. This extends a steady decline from $585.35 million recorded on May 12.

A falling OI typically signals that traders are closing leveraged positions and becoming more risk-averse, reducing the likelihood of a strong recovery in the near term.

ADA price analysis: Can Cardano stay above $0.1500?

Cardano is trading slightly below $0.1600, maintaining a bearish trajectory after reaching a short-term peak of $0.1745 on Monday.

Technical indicators continue to favor sellers. The Relative Strength Index (RSI) at 39 is approaching the oversold territory, indicating severe selling pressure.

The Moving Average Convergence Divergence (MACD) remains below the zero line, confirming that bearish momentum remains dominant.

While oversold conditions could trigger occasional relief rallies, there is currently no strong evidence of a trend reversal.

If the rally resumes, ADA could surge past Monday’s high of $0.1745 before hitting the $0.2000 psychological level. 

A move back above the $0.2205–$0.2275 zone would be needed to weaken the prevailing bearish outlook.

However, if the selloff persists, ADA could drop below Saturday’s low of $0.1486, with the major long-term support at $0.1000 also a target. 

A break below $0.1486 could expose ADA to a deeper decline toward the $0.1000 region.

The post Cardano extends decline toward $0.15 as retail demand weakens appeared first on CoinJournal.

• The oversold technical conditions may limit the pace of the decline, but the broader market structure remains bearish.
•  The structure will remain bearish unless BTC can reclaim the $64,000 region and build momentum back above key moving averages. 

BTC Extends Losses Ahead of Key US Inflation Data Bitcoin (BTC) continued its decline on Wednesday, trading below $61,500 as renewed geopolitical tensions in the Middle East and persistent institutional selling kept risk sentiment subdued. 

Investors are also preparing for the release of the US Consumer Price Index (CPI) data for May, which could significantly influence expectations for Federal Reserve policy. 

Renewed Middle East tensions keep risk assets under pressure

Geopolitical concerns intensified after the United States conducted what it described as self-defense strikes against Iran following the downing of a US Apache helicopter in the Strait of Hormuz. 

Iran’s Islamic Revolutionary Guard Corps (IRGC) responded by saying it had targeted an airbase in Jordan hosting US forces, as well as locations in Kuwait and Bahrain, and warned of further escalation if US actions continue.

Market participants are closely watching the upcoming US inflation data. Economists expect the May CPI report to show another increase in consumer prices, partly due to elevated energy costs linked to the Middle East crisis. 

If inflation comes in hotter than expected, it could strengthen expectations that the Federal Reserve will maintain a hawkish stance and keep interest rates elevated for longer. 

Higher borrowing costs tend to reduce liquidity and make yield-bearing assets more attractive relative to risk assets, potentially adding further pressure on Bitcoin. 

Institutional demand remains weak. According to CoinGlass, US-listed spot Bitcoin ETFs recorded net outflows of $77.44 million on Tuesday, following $91.37 million in outflows earlier in the week.

These withdrawals extend a broader trend of persistent weekly outflows from spot Bitcoin ETFs, suggesting that large investors remain cautious amid macroeconomic uncertainty and geopolitical risks.

Bitcoin technical outlook: Bears retain control

The BTC/USD 4-hour chart is bearish and efficient as Bitcoin maintains a clearly bearish near-term structure. 

Price remains well below all three major moving averages, while a former upward trendline near $73,004 has turned into resistance, reinforcing the view that the medium-term uptrend has been broken. 

The RSI near 38 indicates oversold conditions that could slow the decline, but it does not yet signal a confirmed reversal. 

The MACD remains in negative territory, although downside momentum appears to be moderating, increasing the risk of consolidation rather than an immediate recovery. 

If the bulls regain control, immediate resistance is seen at the $64,004 level, with the $72,037 zone also posing as a strong supply zone.

No significant support levels are identified immediately below the current price in this setup, leaving BTC vulnerable to further downside if selling pressure persists. 

The post Bitcoin falls below $61k amid geopolitical tensions and ETF outflows appeared first on CoinJournal.

The Hyperliquid price has dropped 11% in 24 hours to $55.35, making it one of the hardest-hit assets in an already rough day for crypto.

While the broader crypto market is down, with Bitcoin falling 3.1% toward the $62,000 zone, HYPE’s losses were nearly four times larger; a pattern that tends to show up when a high-beta asset catches a deleveraging wave at the worst possible time.

The 7-day picture is even sharper. HYPE is down 23.7% over the past week and has now given back more than a quarter of its value from its all-time high of $75.48, set just eight days ago on June 2.

Why is the Hyperliquid price declining?

The clearest explanation for the size of the drop lies in the derivatives market.

Hyperliquid futures open interest has dropped to $5.86 billion, a signal that leveraged long positions were being closed rather than new short bets being placed.

At the same time, spot volume climbed 12.5%, meaning actual selling and not just funding rate shifts were hitting the market.

Traders who had built up leveraged positions during HYPE’s run to its all-time high were exiting, and the exits compounded each other.

Interestingly, the price drop was not driven by any negative news specific to the Hyperliquid protocol itself.

Daily buybacks continued as normal, and there were no reports of exploits or technical failures.

It was a speculative unwind, not a fundamental breakdown.

But that unwind happened against a difficult macro backdrop.

The broader market continues to struggle

The Crypto Fear and Greed Index fell to 15, deep in extreme fear territory, down from 47 just a month ago, and total crypto market capitalisation dropped 2.24% in 24 hours to approximately $2.13 trillion.

Traders were pulling back ahead of the Federal Reserve’s June 16–17 meeting, with CME FedWatch data showing a 98.2% probability that rates would stay unchanged.

Geopolitical tension added to the pressure after President Donald Trump indicated the US would respond to Iran allegedly shooting down an American Apache helicopter near the Strait of Hormuz.

Adding to the backdrop, the Hyperliquid Policy Centre (HPC) filed a joint comment letter with venture firm Paradigm on June 9, pushing back on a proposed rule from FinCEN and the Office of Foreign Assets Control that would implement anti-money laundering and sanctions requirements for stablecoin issuers under the GENIUS Act.

The GENIUS Act was signed into law in July 2025, establishing a federal framework for payment stablecoins, with implementation expected by January 2027.

The April-proposed rule would require stablecoin issuers to maintain AML programs, file Suspicious Activity Reports, and have the technical capability to block, freeze, or reject transactions violating US law, across both primary and secondary markets.

HPC and Paradigm’s objection centres on the secondary market scope.

In permissionless blockchain environments, issuers can see wallet addresses and transaction amounts, but they cannot identify who is actually transacting.

As the filing put it: “Issuers are subject to strict liability for transactions they cannot meaningfully police.”

The groups propose keeping heavier compliance obligations on the primary market, where issuers have direct customer relationships, and want a narrower approach in secondary markets, with the Travel Rule applying to pseudonymous wallet transfers only when operators have a direct relationship with the parties involved.

They also suggested that smart contract-level compliance measures, including address blocklists and transfer restrictions, should be recognized as sufficient, and that money laundering provisions should not extend to protocol developers and on-chain infrastructure participants.

HPC and Paradigm warned that if issuers are held responsible for every secondary-market interaction on permissionless networks, the likely outcome is that regulated stablecoins retreat from DeFi entirely, leaving a gap that unregulated offshore alternatives would fill.

What to watch next for HYPE

The immediate technical focus is the $54 level.

AltcoinSherpa notes that a break below the $54 support level would remove a key area that has been holding HYPE’s price action in place.

If HYPE holds above $54, the token could settle into a consolidation range between $54 and $65.

According to AltcoinSherpa, a break below $54 opens the door to the $44–$54 gap, which would represent a significant further drawdown from current levels.

On the derivatives side, a stabilization or recovery in open interest, currently at $2.48 billion, would be a sign that the selling pressure is exhausting itself.

Notably, if open interest keeps falling while price drops, it suggests more unwinding is still ahead.

One potential volatility catalyst worth monitoring is the SpaceX IPO listing, which could draw trading activity to Hyperliquid’s markets and introduce a new source of volume.

But whether that translates into price support for HYPE specifically is less certain, but it could shift the attention and activity on the platform.

Bitcoin reclaiming $63,000 would also improve the broader altcoin environment.

However, until that happens, altcoins like Hyperliquid (HYPE) remain exposed to further downside if macro sentiment stays cautious heading into the Fed meeting next week.

The post Hyperliquid price slides 11%: What’s behind the sell-off and what comes next appeared first on CoinJournal.