The $7B airdrop: How Hyperliquid set the standard with HYPE token

It’s been another rough 24 hours for crypto with Bitcoin falling through that $95,000 support and raising questions about where it may stop. Some analysts have flagged as low as $73,000! Part of the downward pressure has been courtesy of spot Bitcoin ETFs in the US, which on Jan. 8 saw the second-highest daily outflow since they launched a year ago. Elsewhere, the outgoing CFTC chair discusses crypto in a final message, and the story of how decentralized exchange Hyperliquid created the best and most lucrative airdrop in crypto history.

Further reading:

• How low can the Bitcoin price go?
• Bitcoin investors exit spot ETFs at near-record levels as BTC slumps 2.3%
• Bitcoin hourly RSI falls to most 'oversold' since $60K BTC price
• Bitcoin whales have scooped up 34K BTC since December dump: Analyst
• CFTC chair’s final message includes a call for crypto guardrails
• How Hyperliquid’s insanely lucrative airdrop launch changed the game

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