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HyperChainX (HYPER) up 175%, Here's Why This Token Is Trending

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Tue, 31/01/2023 - 10:33
HyperChainX (HYPER) up 175%, Here's Why This Token Is Trending
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HyperChainX (HYPER), which is revolutionizing the gaming industry with its all-in-one platform specifically designed for gamers, is leading the market momentum today. According to data from CoinMarketCap, the token is up by 175% and is changing hands at $0.00583. With this current price trend, the coin is now up by more than 1,422.16% over the past week.

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HYPER-USD Chart
Image Source: CoinMarketCap

The HyperChainX growth is not unusual as the token is known for its high volatility. Earlier this month, the token surged by over 115%, a growth rate that at the time represented the coin's best jump in more than a year.

The consistency in HYPER's growth is now gradually changing the narrative surrounding the token, and for a coin that is not a meme coin, the massive rally is now being considered a likely indication of a new era for a token that touched its all-time high (ATH) of $0.007256 earlier today.

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The current growth is being fueled completely by FOMO (Fear of Missing Out), as a review of the protocol's official social media platforms did not reveal that there is any major update to hinge the growth on.

Altcoins decoupling from Bitcoin

The crypto ecosystem is currently undergoing a major price retracement, which has seen the combined market cap drop by 0.90% to $1.04 trillion. Bitcoin (BTC), the obvious market mover, is down by 1.41% to $22,901.78, per data from CoinMarketCap.

Despite Bitcoin's influence, there is a number of altcoins that have decoupled from their bearish trend to chart their own growth paths. While HyperChainX is the most notable today, coins like Binance Coin (BNB), Dogecoin (DOGE) and Litecoin (LTC), among others, are also recording bullish growths at this time.

With the majority of the top 100 coins still in profit over the past month, many analysts are optimistic that this current slump is a healthy correction.

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