By launching the staking feature of the HYPE token on the HyperLiquid main network, significant attention has been drawn to this project. This feature allows users to stake their tokens with validators and receive rewards by ensuring network security and decentralization. Staking is emphasized by the Hyper foundation for enhancing network security and attracting more users to the project. Although the price of the HYPE token has decreased by about 2% daily at the time of this announcement, predictions indicate that this feature could lead to its price growth. Over 320 million HYPE tokens have been staked with validators so far. Additionally, the HyperLiquid foundation has introduced a program called Delegation to incentivize efficient validators. In this program, locked tokens can also participate in staking, but their rewards will not be withdrawable until the end of the lock-up period. HyperLiquidity project is moving towards the overall trend of the DeFi industry, and recently, the HYPE token has been added to the top 20 digital asset list by Grayscale Research. Since its token generation event on November 29, the HYPE token has experienced a 640% growth and reached $34 on December 22. Since then, its price has stabilized at around $28. Currently, the market value of this token is $9.3 billion, and analysts predict that if the upward trend continues, its price could reach $36. Moreover, the profit ratio of HYPE contracts has increased by 0.98% to $585.90 million, and the trading volume of its derivatives has also increased by 21.75% to $318.03 million. While some technical indicators suggest relative weakness in the uptrend momentum, a potential resurgence is possible. The main price support is in the range of $26.50, with key resistance between $28 and $29. Breaking this resistance could drive the price towards $36.
