Hyperliquid "HYPE" and TON Crypto Price Show Resilience Despite the Market Downturn

The crypto market is facing a downturn at the moment, yet Hyperliquid “HYPE” and TON crypto price are showing resilience.

In the dynamic landscape of cryptocurrencies, where trends ebb and flow, some tokens manage to remain resilient even amidst a broader downturn. This is the case with Hyperliquid (HYPE) and TON crypto, which have shown resilience despite the crypto market dip.

> “Despite the general crypto market dip, HYPE and TON have their strong fundamentals. HYPE has its trading volume surged, cutting into centralized exchange market share, while TON benefits from Telegram’s crypto user base.”

Both tokens have seen consistent demand, with investors favoring them over other assets during this downturn. This is evident in the persistent buying activity seen throughout the downturn, a factor that has stalled other assets.

However, HYPE and TON have shown resilience, and this is largely due to the strong fundamentals that keep them afloat. For HYPE, its rapidly increasing DEX volume has been a key driver.

As the token used for trading on Hyperliquid, HYPE is seeing its ecosystem grow rapidly. This is evident in the DEX’s rising market share, which has seen it snatch a larger slice of the pie from centralized exchanges.

Moreover, HYPE’s tokenomics, which includes burning transaction fees, add another layer of buy pressure. To date, over 65,000 HYPE tokens have been burned in days, slowly reducing the total supply.

This is in stark contrast to other tokens, where buy activity has stalled due to the lack of institutional interest. However, HYPE continues to see strong buy interest, which is now being driven by a new wave of institutional investors.

Recently, one whale made a significant move by scooping up $15 million worth of HYPE during a slight dip, showcasing the growing presence of institutions in the HYPE token.

Meanwhile, 40% of the token is also being locked up through staking, further reinforcing its value.

On the other hand, TON’s resilience comes from its real-world adoption, which translates into its price. Telegram’s integration of TON wallet has been the best driver for its usage, with more than 20% price pumps being seen in March.

This goes side to side with its utility in mini-games that have attracted millions of users to the Telegram ecosystem.

While some brand it as an over-optimism, TON’s ecosystem expansion keeps it relevant in a tough crypto market.

Besides, wallet compatibility also bumps both tokens’ demand. HYPE, secure storage on multi-chain wallets ensures accessibility, while TON’s Telegram Wallet offers seamless trading with yield features. So users can pick their best crypto wallet for both, prioritizing user experience.