HYPER Token Drops 10.9% Amid Exchange Funding Rate Changes and Surging Sell Volume

HYPERUSDT experienced a 10.90% price decline over the last 24 hours, with the current price at $0.4960 (down from a 24h open of $0.5567). This price drop is attributed to increased market volatility, as evidenced by a 31.4% rise in sell offers and negative funding rates, alongside coordinated adjustments by major exchanges (KuCoin, Bybit, Phemex) to funding rate intervals for HYPERUSDT perpetual contracts. These changes, implemented in response to heightened volatility and large price swings, are intended to better align futures prices with spot prices and manage risk.

Trading activity remains high, with Binance reporting a 24-hour volume of 361.30 million HYPER (209.99 million USDT), and the circulating supply stands at 175.2 million out of a total 802.66 million HYPER. The market capitalization is reported between $20 million and $98.6 million across sources, reflecting ongoing significant market participation amid recent price fluctuations.