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Title: Hyperliquid NFT Adoption Remains Slow As HYPE Drops 18% – What’s Next?
Hyperliquid NFTs have been struggling to gain traction, with adoption rates stagnant despite a significant decline in the value of HYPE. The native token has dropped by an astonishing 18%, which is likely to have a profound impact on the broader NFT market. While some analysts believe that this drop may be a buying opportunity for investors looking to get into the market, others warn that it could indicate a long-term downturn.
In the face of such uncertainty, it’s crucial to understand the current state of affairs in the Hyperliquid ecosystem. According to recent data, the NFTs associated with the protocol have remained largely unaffected by HYPE’s 18% drop. This is perhaps surprising, given the close correlation that typically exists between an NFT project’s value and the performance of its native token.
Despite early-stage projects like Hypers and Mechacats showing potential, it appears as though adoption rates are not following suit. With only a mere 1.5% of users bridging to EVM, the liquidity constraints are quite evident, limiting the market’s potential for growth.
Source: https://ambcrypto.com/hyperliquid-nfts-adoption-remains-slow-as-hype-drops-18-whats-next/
