ChainCatcher news, according to Cointelegraph, the Layer-1 blockchain network Hyperliquid has become one of the most valuable blockchains since it launched the HYPE token through an airdrop in November, with a market capitalization of approximately $25 billion. However, VanEck pointed out that Hyperliquid’s emerging smart contract platform “has not yet attracted a large number of developers.” VanEck warned, “If Hyperliquid fails to meet the growth expectations of its community, many newly wealthy HYPE holders may quickly face a prisoner’s dilemma.” They added, “We are seeing another Icarus-like story of cryptocurrency arrogance.” (Icarus is a figure from Greek mythology who fell because he flew too high, symbolizing failure due to pride and hubris.)
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