2026-01-20 02:21:04

There is an interesting cautionary tale worth paying attention to. TROVE's market cap has plummeted from a $20 million funding valuation to just $950,000, with a 24-hour decline of 97.19%—this is not a minor correction but a complete market rejection.

The turning point has arrived. Team member unwise recently announced a major move: abandoning the original Hyperliquid path and shifting to rebuild a perpetual DEX on Solana. The underlying reason is quite heartbreaking—the liquidity partners who previously supported their development on Hyperliquid were forced to close positions of 500,000 HYPE tokens due to market sentiment volatility. This move effectively cut off their funding lifeline.

Even more interesting, on January 11th, the team transferred $45,000 raised in the angel round into a prediction market, indicating they might be exploring new business models or perhaps seeking a lifeline.

The migration from Hyperliquid to Solana essentially reflects a harsh reality: wrong ecosystem choice + loss of market confidence = forced restart. This is almost a classic failure case in Web3 entrepreneurship, but perhaps it is precisely such critical decisions in moments of life and death that reveal a team's resilience.

HYPE-7,04%

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SerumSquirter

· 12h ago

97% directly cut in half, how desperate is that... But moving funding into prediction markets? Is this guy really gambling big or has he run out of options?

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NFTragedy

· 12h ago

97.19% decline... How outrageous is that? A financing valuation of 20 million directly slashed to 950,000. Waking up to a zeroed-out account feels like that. A wave of liquidator partner liquidations just cut off the financing blood supply channel. The feeling of being stabbed in the back is truly intense. By the way, transferring 45,000 from the angel round into the prediction market really feels like a desperate fight for survival. Choosing the wrong ecosystem indeed makes it impossible to turn back. Web3 entrepreneurship is really a gamble on the right position.

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NFTRegretter

· 12h ago

97% decline, this guy is really ruthless, directly smashing the valuation from 20 million to 950,000. Isn't that bankruptcy or art? Turning angel round funds into prediction market bets to save the project—how desperate must one be to come up with such an operation... If the ecosystem chooses the wrong path, it has to start over. Hyperliquid switching to Solana—this wave is truly a forced operation. Once the financing party closes the HYPE position, it's gone. What happened to mutual achievement? Want to see if this team can turn things around from Solana; currently, the script looks pretty bleak.

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alpha_leaker

· 12h ago

Another classic example of choosing the wrong track, Hyperliquid is really a pit Funding valuation of 20 million directly dropped to 950,000, how outrageous... When liquidity partners withdraw their investment, it’s a direct blood loss, too ruthless Transferring the funding to gamble on prediction markets? It shows there's really no other way, this is an all-in life-saving move Switching to rebuild on Solana is also a helpless move; choosing the wrong ecosystem is the most fatal mistake

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NFTPessimist

· 12h ago

Uh... a 97% decline is still being messed with. Throwing funding into prediction markets— isn't that just gambling? If the ecosystem chooses the wrong path, it can be cut and restarted. It sounds decisive, but honestly, it still hasn't caught the market's pulse.

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BlockTalk

· 12h ago

97% decline, how outrageous is that... Choosing the wrong ecosystem is truly deadly Once the liquidity partners run away, financing channels are directly cut off, and that's the most heartbreaking 45,000 to the prediction market? Are they gamblers or a lifeline? Let's see what happens next Hyperliquid to Solana, if this turnaround really happens, then it's a real story The team's resilience is indeed worth watching, but isn't probability theory too cruel?

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