Hyperliquid News Today: With PING Soaring, Crypto Analysts Caution Against Hype Outpacing Real Value

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Hyperliquid News Today: With PING Soaring, Crypto Analysts Caution Against Hype Outpacing Real Value

Bitget-RWA2025/10/25 07:42

By:Bitget-RWA

- A 0xe688 address earned 759% profit ($675,000) in two days via PING token trades, highlighting extreme crypto volatility. - PING's surge drove x402 protocol's 8,218% 7-day trading volume spike, with Coinbase-backed infrastructure attracting 31,000 new buyers. - Analysts warn PING lacks utility as speculative hype mirrors 2023 BTC Ritual Mania, with CoinCodex predicting 24.8% price drop by 2025. - Institutional adoption of x402 by Questflow and Kite AI contrasts with liquidity/regulatory risks, as PING's

According to monitoring by a

LookOnChain report

, an address starting with 0xe688 managed to secure an impressive 759% return—$675,000—in just two days through trading PING tokens, as highlighted in an

Odaily article

. The wallet initially spent $89,000 to purchase 13.42 million PING tokens, then sold 6.72 million for $377,000. It still holds 6.72 million PING, now valued at $387,000, showcasing the token’s dramatic price surge. This swift profit exemplifies the speculative excitement around PING, which has quickly become a magnet for traders chasing high returns in the unpredictable crypto sector.

Much of PING’s momentum is linked to the x402 protocol, a blockchain advancement introduced by

Coinbase

. Data from a

Coinfomania report

shows that, following PING’s launch, the x402 protocol experienced an 8,218.5% jump in trading volume and a 701.7% increase in transaction numbers over a week. The protocol, which streamlines token creation and payments, has attracted over 31,000 new buyers and $140,200 in trading activity. Experts attribute this surge to PING’s introduction, which has accelerated adoption of the x402 ecosystem. “PING’s performance affirms Coinbase’s commitment to fostering open-source development,” one analyst remarked, highlighting the protocol’s potential to transform blockchain-based payments.

Interest in PING has fueled intense speculation, with forecasts and volatility assessments emerging quickly. A

CoinCodex price prediction

anticipates PING’s value will drop by 24.81% to $0.04131 by November 24, 2025, despite current optimism. At the same time, a

OneSafe.io analysis

points to PING’s addition to Binance Wallet as a major driver of its rally, noting a 365% surge in 24-hour trading volume. Still, skeptics argue that PING lacks real-world utility, likening it to previous speculative crypto booms. “The PING craze is reminiscent of the 2023 BTC Ritual Mania, propelled more by excitement than by fundamentals,” one market commentator observed, cautioning about possible near-term pullbacks.

The rapid expansion of the x402 protocol has also attracted institutional players, with projects such as Questflow and Kite AI utilizing its framework. Supported by Coinbase, PayPal Ventures, and Animoca Brands, the protocol seeks to incorporate AI-powered transactions and broaden DeFi use cases. However, obstacles persist. Dapp.expert points out that while PING’s rise demonstrates strong community involvement, its sustainability hinges on resolving liquidity and regulatory challenges. “Speculation may yield quick profits, but lasting growth depends on solid practical applications,” an analyst cautioned, advising investors to remain vigilant.

With PING’s market cap now exceeding $63 million, its trajectory reflects larger trends in digital asset trading. The achievements of the x402 protocol highlight the impact of community-led innovation, while PING’s volatility serves as a reminder of the dangers in speculative markets. Thanks to Coinbase’s “Blue Carpet” listing approach and Binance’s backing, alternative tokens like PING are poised to gain wider acceptance. Nevertheless, investors should temper excitement with caution, as rapid gains often carry the risk of equally swift downturns.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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