Trump Endorses Hyperliquid, Ninth Crypto Pick After 60% Average Drop in Prior Eight
Donald Trump's ninth crypto endorsement, Hyperliquid, rose 14% after a White House appearance; all prior endorsed tokens trade lower.
President Donald Trump on Wednesday named Hyperliquid (HYPE) as his ninth crypto endorsement, speaking at the White House. The token price rose about 14% within two hours of the announcement, according to market data.
The endorsement follows a pattern that has so far been negative for earlier tokens. All eight cryptocurrencies previously endorsed by Trump are now trading below their pre-endorsement prices, with an average decline of roughly 60%.
The latest mention puts Hyperliquid in a group of assets that have experienced short-lived rallies after presidential attention. Whether HYPE avoids the same downward trajectory remains to be seen, as market observers monitor the token's performance against the record of its predecessors.
Presidential endorsements of specific crypto assets have become a recurring theme during the current administration, drawing fresh attention to each token named and prompting questions about their long-term price impact.