HyperEVM: Shipping Into Poor Sentiment
HyperEVM is up and running, albeit with limited features, as it launches just four days after Hyperliquid expands its spot markets through "Unit". Unfortunately for HYPE, these developments come with the backdrop of a depressed altcoin market.
Preview
TLDR
- Argentine President Javier Milei endorsed a memecoin - $LIBRA – which soared to $4.5B market cap before a 95% collapse, ultimately damaging altcoin sentiment further. Amid the madness, Hyperliquid (HL) shipped “Unit” and the first iteration of HyperEVM.
- Unit is an asset tokenization layer for HL, bringing BTC deposits/withdrawals to HL’s spot order books, with ETH and SOL support to follow soon.
- At the center of the Unit protocol is a network of operators known as Guardians that work together to ensure the system runs securely and efficiently. Each Guardian runs the “Agent” - software developed by the Unit team that implements the protocol's operations.
- HyperEVM launched just 4 days after Unit, but remains in its early stages with limited features.
- HyperEVM and Unit launch during a depressed altcoin market, but we consider their impact on the Hyperliquid ecosystem and its native token $HYPE.
