TechFlow news, January 8 — According to Cointelegraph, since launching its HYPE token via airdrop in November, Layer-1 blockchain network Hyperliquid has become one of the most valuable blockchains, with a market capitalization of approximately $25 billion. However, VanEck noted that Hyperliquid’s emerging smart contract platform "has yet to attract a significant developer base." VanEck warned: "If Hyperliquid fails to meet its community's growth expectations, the prisoner’s dilemma facing many newly minted HYPE millionaires could quickly unravel." It added: "We are once again witnessing another Icarus-like tale of cryptocurrency hubris." (Icarus, a figure in Greek mythology who fell after flying too close to the sun, symbolizes failure due to overconfidence.)
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