Hyperliquid”s HYPE has encountered a challenging week, with the token struggling to maintain its price within the $30 to $32 range. This downturn follows the unlocking of 9.9 million tokens which added to the circulating supply. Traders are closely monitoring whether HYPE can regain support at the $35 mark or if it will decline further into the high $20s.
In contrast to Hyperliquid”s dwindling trading volume, Digitap ($TAP) is gaining traction in the crypto presale space, having raised over $2 million in just a few weeks. This success can be attributed to its innovative omnibank application, which integrates both crypto and fiat functionalities into a single user-friendly account.
As established altcoins stagnate, larger investors are redirecting their funds into promising presale projects. This trend is prompting discussions about the best altcoins to consider in the current market climate.
HYPE”s Market Performance and Sentiment Analysis
The HYPE token concluded the week with an 11% loss, primarily because a significant portion of its spot trades are concentrated within the low to mid $30s range. This situation results in a fully diluted market valuation in the billions, underpinned by its daily trading volume, which reflects a challenging sentiment among traders.
Additionally, HYPE”s daily Relative Strength Index (RSI) remains above the 40s, while short-term averages are on a downward trend, indicating a market struggle where neither bulls nor bears have established clear dominance. Currently, only about 2.6% of the total supply is actively traded.
Following the unlocking of 9.9 million tokens, the Hyperliquid team executed over $600 million in buybacks. However, this level of buyback often only accounts for a few million tokens daily, indicating a supply surplus in the market. Many holders are now reallocating their investments into presale opportunities like Digitap that promise immediate returns.
Market sentiment towards HYPE appears divided. Some traders view it as a laggard in the market, while others attribute its downtrend to broader market dynamics favoring lower-risk investments in large and mid-cap assets. A group of investors believes the Hyperliquid team”s buyback efforts are failing to stabilize the token, causing it to appear undervalued.
The $33 to $35 price range has emerged as a pivotal battleground for market participants. A fall below these levels could spark further declines toward $28, while a successful reclaim of the $35 to $36 range could set the stage for a rally towards $40, positioning Hyperliquid as a long-term investment option.
Digitap”s Unique Value Proposition
On the other hand, Digitap ($TAP) distinguishes itself from other presale projects by offering a functional omnibank app that simplifies the interaction between cryptocurrencies and traditional payment systems. Users can conduct payments, automate their savings, and manage their funds without needing to switch platforms.
This is facilitated by an advanced multi-rail infrastructure and an intelligent routing system that optimizes transaction processes. For instance, when transferring funds, the system selects the most efficient and cost-effective route, whether through traditional banking networks like SEPA and SWIFT or public blockchains.
Instant access with zero-KYC onboarding allows users to download the app on both iOS and Android platforms immediately. This user-friendly approach is a significant draw for investors, making $TAP an appealing option in the current market.
Additional features include a Visa card program for spending crypto anywhere Visa is accepted, an earning mechanism that channels 50% of Digitap”s revenue into buybacks and staking rewards, and impressive staking rewards of up to 124% APR during its presale.
Presale Dynamics and Future Outlook
An intriguing aspect of the current market is Digitap”s presale momentum. Despite broader market corrections affecting many cryptocurrencies, the presale price of $TAP has surged from $0.025 to $0.0361, yielding over 170% ROI for early investors. In just five days, the price is expected to reach $0.0371, further positioning it as a top altcoin to consider.
With a launch price anticipated at $0.14, early buyers are poised to benefit significantly even before $TAP enters the exchanges. This strong presale performance coupled with a functional omnibanking application highlights Digitap”s potential as one of the best altcoins to watch in December.
To take advantage of this opportunity, interested investors can use the code “TAPPER20” for a 20% discount on their first purchase. Digitap”s presale is live now, and further details can be found on their official website.
As always, readers are encouraged to conduct thorough research before making any investment decisions in the cryptocurrency space.
