HYPE Sees Massive Surge Over 200% Since Launch, Hits $12B FDV

Share This Post

Get Grass Completes Solana Network's Biggest Airdrop, Targets $1

The post HYPE Sees Massive Surge Over 200% Since Launch, Hits $12B FDV appeared first on Coinpedia Fintech News

In a notable increase, the HYPE token, launched by Hyperliquid, has witnessed a surge of over 200% since its token generation event on November 29. It is currently trading at $12.30, up over 36% in the last 24 hours. Intriguingly, the rapid increase in its price has pushed the token’s fully diluted valuation (FDV) beyond a massive $12 billion. With 333 million tokens circulating out of a 1 billion max supply, HYPE’s market capitalization currently stands at around $4 billion.

HYPE Registers New ATH!

The Decentralized Finance (DeFi) protocol Hyperliquid had its genesis event on Nov. 29, debuting at $3.90. This put the total airdrop value at $1.2 billion. Roughly 31% of the total supply was distributed during the event. The HYPE price has increased since the airdrop, reaching a new all-time high of $12.95 on Dec. 4.

The sentiment around HYPE is positive for numerous reasons besides the price increase. Analyst Base summarized a few of the reasons. Users were all praises that the token generation event went smoothly, without any outages or complaints about the distribution. Additionally, there was no allocation for VCs or private investors. The holders’ distribution also showed a good amount of decentralization, with fairly few large wallets holding a large percentage of the supply.

Users are also enthusiastic about the TWAP feature, which divides large orders into smaller ones executed in 30-second intervals, with a maximum slippage of 3%. There is immense demand for HYPE, which is evident by the massive difference between TWAP buy and sell orders. Users noted that HYPE is deflationary and burns nearly 26% of its supply per year at the current rate.

The investor interest in the token is pretty evident as well in its 24 hour trading volume of over $279 million. Hyperliquid has also risen to lead in trading volume and total value locked among decentralized perpetual swap platforms. With its valuation up over 514% since the launch and a current market cap exceeding $4.2 billion, Hyperliquid has flashed speculations about which projects might replicate its success.

Which Projects Could Replicate HYPE’s Success?

Grass gained attention with its first airdrop on Solana, distributing 10% of its total token supply during its initial phase. Participants earned tokens by contributing computing power and engaging with the network. For its second phase, Grass plans to allocate 17% of tokens to the community.

LayerZero’s initial allocation of 15% of its ZRO token supply was designated for future incentivized activities. LayerZero users and developers will receive 23.8% of the token supply. According to an official announcement, unclaimed tokens as of September 20 were reallocated.

Analysts recommend engaging with LayerZero’s bridge services regularly and participating in its Discord roles program, which reserves an additional 5 million tokens for the community.

Wormhole, a multi-chain interoperability protocol, offered an early airdrop strategy that proved lucrative for active users. Although the project reserves only 6% of its W token supply for community rewards, its focus on rewarding high-value transactions suggests it has room to grow with increased adoption.

Arkham recently shifted from blockchain services to building a perpetual exchange. Its airdrop strategy imitates Hyperliquid’s, rewarding users who trade and refer new participants.

Growing Prominence Of DEXs

Zeta Markets co-founder Anmol Singh noted that the high trading volumes surrounding HYPE’s launch was a sign of the growing prominence of decentralized exchanges and perpetual platforms. He noted that by 2025, the majority of token launches will happen on DEXs, making them the clear choice over CEXs.

FAQs

Why has HYPE token price surged so much?

HYPE’s price surged over 200% since its launch due to a successful token generation event, positive sentiment, and strong demand.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Sets New ATH Above $104,000, Yet Investors Don’t Want To Sell

Bitcoin has set a new all-time high (ATH) beyond the $104,000 mark during the past day, but on-chain data shows investors are still unwilling to sell Bitcoin Exchange Netflow Has Remained Negative

On-Chain Metrics Revealed Warning Signs Before the 10% Crypto Market Dip

The post On-Chain Metrics Revealed Warning Signs Before the 10% Crypto Market Dip appeared first on Coinpedia Fintech News After yesterday’s surge, the crypto market saw a sudden 10% dip,

Crypto Market Prediction 2025: Bitcoin and Altcoins Ready for Dramatic Bull Run

The post Crypto Market Prediction 2025: Bitcoin and Altcoins Ready for Dramatic Bull Run appeared first on Coinpedia Fintech News The crypto market looks extremely bullish right now In the last seven

Donald Trump appoints David Sacks to lead AI and crypto policy in new administration

On Dec 6, US President-elect Donald Trump announced on Truth Social that David Sacks has been named the “White House AI and Crypto Czar ” In his new role, Sacks will lead efforts to

Bolivian Attorneys Spearhead USDT Index Proposal to Energize a Dollar-Starved Economy

Bolivian attorneys Iver von Borries and Javier Romero Mendizabal proposed introducing Tether’s USDT, the largest stablecoin in the cryptocurrency market, as an index asset for commercial and

Cardano (ADA) Price Prediction (Dec 6th) 

The post Cardano (ADA) Price Prediction (Dec 6th)  appeared first on Coinpedia Fintech News As Cardano sustains above the $1 psychological mark, the pullback might soon retest the bullish dominance