Could the next major market move be on the horizon? The Shiba Inu price drop has rattled the memecoin scene, while HYPE whale purchases on Hyperliquid fueled swift price increases. As traders track these shifts, BlockDAG (BDAG) is making strides toward shaping the future of DeFi through its upcoming hackathons.
Unlike conventional coding events, BlockDAG’s hackathons are built to transform creative ideas into real-world DeFi and Web3 solutions. By targeting growing sectors such as DeFi, NFTs, and smart contracts, the goal is to add lasting value to the BDAG ecosystem. As more projects emerge and drive blockchain activity, BDAG could gain stronger demand and long-term relevance.
BlockDAG Hackathons: Driving DeFi and Web3 Innovation
BlockDAG’s upcoming hackathons are designed to do more than just highlight programming skills—they aim to bring new ideas to life, strengthening DeFi and Web3 adoption. With a focus on critical areas like decentralized finance, NFTs, and smart contracts, these events will attract developers looking to build practical solutions. The objective is clear: establish BlockDAG as a key player in DeFi by launching real-world applications that add value to the network.
Every project introduced through the hackathons contributes to BlockDAG’s functionality. Whether it’s DeFi protocols enhancing liquidity, NFT projects engaging broader audiences, or improvements in infrastructure, each initiative broadens the use cases of BDAG. As blockchain transactions increase and more users engage in staking and governance, the demand for BDAG could naturally rise, potentially offering benefits to holders.
Currently, BDAG is selling at $0.0248 in its 27th presale batch, with the campaign already securing $204 million. Plans to list on 10 major CEXs this year could further solidify BDAG’s market presence, positioning it as a strong contender in 2025. The combination of developer engagement and structured growth initiatives sets the stage for BlockDAG’s expanding role in the blockchain industry.
Why Is the SHIB Price Dropping?
The recent dip in SHIB price has caught market participants off guard, with a 6.22% decline over 24 hours, bringing its value to a quarterly low of $0.00001369. This drop pushed SHIB below a critical support range, where 447 trillion tokens were previously exchanged between $0.000014 and $0.000019. Currently, 59% of SHIB holders are in the negative as large transactions among crypto whales have decreased by 10.95%. Spot trading volumes have also taken a hit, standing at $578 million, a figure lower than competing memecoins like Dogecoin and Pepe Token.
The derivatives market added further instability, with nearly 90% of liquidated positions being bullish bets. Within a single day, long positions worth over $900,000 were wiped out, exposing the risks tied to SHIB trading. Despite the ongoing price decline, the SHIB community remains committed to token burns, aiming to cut supply and encourage price recovery.
HYPE Whale Purchases Trigger a Market Surge
HYPE whale purchases on Hyperliquid have drawn widespread interest, with $8.42 million USDC flowing into $HYPE acquisitions within 24 hours. Major deposits of 5 million USDC, 2.07 million USDC, and 1.35 million USDC pushed the price from $0.10 to $0.14, marking a 40% increase. Trading volumes mirrored this momentum, as $HYPE/USDC pairs saw 8 million tokens traded on Hyperliquid alongside 2 million tokens on Uniswap’s $HYPE/ETH market.
Technical indicators support this bullish movement. The Relative Strength Index (RSI) climbed from 60 to 75, signaling strong buying pressure. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, while the total value locked (TVL) in $HYPE-related DeFi projects rose by 15% to reach $15 million. With HYPE whale trading influencing both spot and derivatives markets, $HYPE is emerging as a potential high-growth asset.
Final Call!
The decline in SHIB price has left many holders facing losses, while HYPE whale activity on Hyperliquid has fueled a rapid price surge, demonstrating the volatility of the crypto space. As SHIB holders continue burning tokens in hopes of recovery and $HYPE gains traction, BlockDAG is setting its sights on long-term DeFi expansion through its hackathon initiatives.
By converting fresh ideas into functioning DeFi and Web3 applications, BlockDAG is positioning BDAG for broader adoption. Each project introduced through these hackathons strengthens BDAG’s real-world use, potentially increasing transaction volumes and overall utility. With $204 million raised in crypto presale and a focus on community-driven development, BlockDAG is paving the way for sustained growth, offering potential advantages for BDAG supporters.
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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