ChainCatcher news, according to Cointelegraph, the Layer-1 blockchain network Hyperliquid has become one of the most valuable blockchains since issuing HYPE tokens 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 significant 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 that could unravel." They added, "We are witnessing another Icarus-like story of cryptocurrency hubris." (Icarus is a figure in Greek mythology who fell because he flew too high, symbolizing failure due to pride and arrogance.)