HYPE
Reputation Ratings

HYPE

Supreme Finance 2-5 years
Website https://www.supremefinance.io/
Browser
OTH RELPs
White Paper
Avg Price
0.00%
1D

$ 0.00003448 USD

$ 0.00003448 USD

Market Cap

$ 44,816 0.00 USD

$ 44,816 USD

24h trading volume

$ 18,215 USD

$ 18,215 USD

7d Vol

$ 11.183 million USD

$ 11.183m USD

Circulating supply

1.5 billion HYPE

Related information

Issue Time

2021-01-13

Platform pertained to

--

Current price

$0.00003448USD

Market Cap

$44,816USD

Volume of Transaction

24h

$18,215USD

Circulating supply

1.5bHYPE

Volume of Transaction

7d

$11.183mUSD

Change

24h

0.00%

Number of Markets

10

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Current Rate0

Available

0.00USD

Calculate

Historical Price

Introduction

Markets

3H

0.00%

1D

0.00%

1W

0.00%

1M

-12.48%

1Y

-98.5%

All

-100%

Aspect Information
Short Name HYPE
Full Name HYPE Token
Founded Year 2019
Main Founders Not publicly disclosed
Supported Exchanges HTX, CoinDCX
Storage Wallet Metamask, Trust Wallet, etc.

Overview of HYPE

HYPE Token, often represented by the short name HYPE, was founded in 2019. The main creators of this particular type of digital currency have not been publicized. As a cryptocurrency, it is traded on exchanges of HTX and CoinDCX. Storage and management of the HYPE token, like many other cryptocurrencies, can be undertaken using digital wallets like Trust Wallet and Metamask.

overview

Pros and Cons

Pros Cons
Supported by popular digital wallets Founders are undisclosed
Fairly new, potential for growth Risk of volatility, like most cryptocurrencies
Fairly new, lacks long-term historical data

Pros:

1. Supported by Popular Digital Wallets: HYPE can be stored in recognized digital wallets like Trust Wallet and Metamask, which are known for their security and user-friendly features.

2. Fairly New with Potential for Growth: Since its establishment in 2019, the HYPE token is fairly new in the digital currency space. It could have a high potential for growth given the rapidly evolving and expanding nature of cryptocurrency markets.

Cons:

1. Founders are Undisclosed: It's unknown who the main creators of HYPE token are. While this isn't uncommon in the cryptocurrency world, some investors may see it as a risk as this lack of transparency can sometimes indicate instability or lack of accountability.

2. Risk of Volatility: Like any other cryptocurrency, HYPE is subject to high volatility. Crypto prices can fluctuate wildly, which means investments can quickly gain or lose value.

3. Lacks Long-term Historical Data: As a comparatively new cryptocurrency, HYPE lacks a extensive historical data or performance track record. This can make it harder for investors to predict its future performance.

What Makes HYPE Unique?

HYPE Token introduces an aspect of interactivity and incentivization that differentiates it from many other cryptocurrencies. It incorporates a “hyper deflationary” model where each transaction triggers a burn rate of 1%, meaning a portion of the tokens are removed from the total supply, ideally increasing the token's value over time.

However, what sets HYPE token apart is its interactive model: by holding the tokens, users can vote on certain attributes, including the burn (deflation) rate itself, the re-distribution percentage, and charitable causes to support. This democratic approach provides a level of engagement not always seen in other digital currencies.

What Makes HYPE Unique?

It's important to note though, like other cryptocurrencies, HYPE is subject to market volatility and its value can fluctuate. Similarly, while its democratic approach to tokenomics is innovative, it also rests on the collective decision-making skills of the token holders, which can present its challenges.

Circulation of HYPE

HYPE has a maximum supply of 10 billion tokens, but there is no current mining cap. The total circulating supply of HYPE is currently 1.2 billion tokens.

It reached an all-time high of $0.25 in March 2023, but before falling to an all-time low of $0.05 in June 2023. The price of HYPE has since recovered somewhat, and is currently trading at around $0.10.

How Does HYPE Work?

HYPE operates based on an interactive and democratic “hyper deflationary” model. This means that for every transaction involving HYPE tokens, a certain percentage (as voted on by token holders) is burned or removed from the total supply. This deflationary action is intended to increase the scarcity of the tokens over time, potentially raising their value.

Furthermore, HYPE token holders can vote on attributes such as the burn rate or the percentage of tokens to be redistributed among all holders. This functionality allows the community to play a direct role in managing the token's inflation and deflationary pressures.

It's important to understand, however, that the successful operation of the HYPE token model entirely depends on community participation and the market forces at play. The value of the token, like any other cryptocurrency, can fluctuate due to various factors, including market demand, investor sentiment, and general economic conditions. The democratic nature of the HYPE decision-making process can also lead to unexpected outcomes, as it is dependent on the collective decisions of the token holders.

Exchanges to Buy HYPE

HYPE token is currently available for purchase on a couple of cryptocurrency exchanges.

The first is HTX, a cryptocurrency exchange known for its extensive list of tradable assets.

HTX

The second platform where HYPE can be bought is CoinDCX, a popular digital currency trading platform.

CoinDCX

These platforms facilitate the buying, selling, and trading of the HYPE token amongst various other cryptocurrencies. It's crucial, however, for each investor to perform detailed research and consider all possible factors before making any investment.

How to Store HYPE?

HYPE tokens can be stored in a variety of wallets that support ERC-20 tokens, due to their compatibility with the Ethereum blockchain. General categories of wallets include:

1. Online Wallets or Web Wallets: These are wallets that are accessible via a web interface such as MyEtherWallet. They provide easy access and are convenient to use but may not be the most secure option as they are vulnerable to online hacking.

2. Software Wallets: These are applications that can be installed on a computer or smartphone. They provide a higher level of security than online wallets. Some popular software wallets that support HYPE Token include Metamask and Trust Wallet.

3. Hardware Wallets: These are physical devices that store cryptocurrencies offline. They are safer than online and software wallets because they are less vulnerable to online threats. Examples of hardware wallets that support HYPE Token include Trezor and Ledger.

4. Paper Wallets: These are physical printouts of your public and private keys. They are very secure for storing cryptocurrencies as they are completely offline, but can be easy to lose or damage.

It is worth noting that storing your cryptocurrencies securely is paramount. Always make sure to keep your private key private and only use wallets from trusted developers.

Should You Buy HYPE?

Investing in cryptocurrencies like the HYPE token should be a decision made based on careful consideration and thorough research. Here are some factors to consider:

1. Risk Tolerance: Cryptocurrencies, including HYPE, are known for their price volatility. Investors should have a high risk tolerance and be prepared for potential significant price fluctuations.

2. Research Conducted: Prior to investing, individuals should carry out extensive research on HYPE token including its technology, mission, strategic partnerships and competition in the market.

3. Technologically Savvy: Cryptocurrencies and blockchain technology involve a learning curve and require a certain degree of technical knowledge. Investors should be comfortable or willing to learn how to use digital wallets and navigate through cryptocurrency exchanges.

4. Long-term Orientation: Due to the inherent volatility and unpredictability of the cryptocurrency markets, investors are often encouraged to adopt a long-term orientation.

5. Participation in the HYPE Community: One unique aspect of HYPE is its democratic approach to decision-making. The more actively involved a token holder is within the HYPE community, the more influence they have on the tokens functionality. Investors who prefer a more passive investment strategy may find this model less appealing.

It is also advisable to speak to a financial advisor or a professional specializing in cryptocurrency before making any investment decisions. Keep in mind the importance of diversification in managing investment risk and not invest more than you are willing to lose.

Conclusion

The HYPE Token, which emerged on the scene in 2019, introduces a unique hyperdeflationary and democratic model into the cryptocurrency space. It has sought to differentiate itself from other types of digital currencies by allowing its community of token holders to vote on key elements of the tokenomics, which can result in a dynamic and interactive experience.

However, like all cryptocurrencies, HYPE is subject to the highly volatile nature of this particular market. Its unique model of governance and operational function can both provide opportunities for token value appreciation and pose some challenges in terms of decision-making and predictability. The future of the token would largely depend on how well this model resonates with investors and how effectively it is implemented.

Given its relatively recent entrance into the market, the definitive earning potential of HYPE is uncertain. As with any investment, the profitability is tied to market dynamics, the decisions of the token's community, and broader economic conditions. It would be advisable for potential investors to conduct thorough research and consultation with financial advisors before deciding to invest in the HYPE token.

FAQs

Q: On which platforms can I trade HYPE?

A: You can trade HYPE on HTX and CoinDCX.

Q: What options do I have for storing my HYPE tokens?

A: You have several wallet options for storing your HYPE tokens, including online wallets, software wallets, hardware wallets, and potentially paper wallets.

Q: Who would be suitable for investing in HYPE token?

A: Individuals who are technologically savvy, have a high risk tolerance, and are willing to actively participate in the HYPE community may find HYPE a suitable investment.

Q: What sets the HYPE token apart from other cryptocurrencies?

A: HYPE distinguishes itself from other cryptocurrencies through its emphasis on democratic governance, allowing token holders to vote on the token's deflation rate and other aspects.

Q: Can changes be made to the operational mechanics of HYPE?

A: Yes, the operational mechanics of HYPE, such as the burn rate or redistribution percentage, can be altered through voting by HYPE token holders.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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