Crypto analyst Ali Martinez highlighted a pullback in Hyperliquid’s native token, $HYPE, after failing to hold above key resistance levels. The rejection zone at $48-$50 led to a sharp drop towards $39, according to Martinez, who predicted further declines if bearish momentum persists. However, the protocol has seen strong performance, achieving $335.9 billion in trading volume and $93.9 million in fees over the past 30 days. This activity supports an annualized 13% buyback rate, making it unmatched in the decentralized exchange (DEX) market. Hyperliquid’s founder, Jeff, has rejected venture capital funding, prioritizing community-driven progress instead of maximizing financial gain. This approach fosters trust among users and differentiates the project from those reliant on VC financing.