Hyperliquid’s HYPE Token Surges 200% to $12 Billion Valuation
Hyperliquid’s new token, HYPE, has surged 200% since its launch on November 29, now priced at $12.59, with a 39% increase in the last 24 hours. This growth has resulted in a fully diluted valuation (FDV) exceeding $12 billion and a market capitalization around $4 billion, gaining significant attention from the DeFi community.
Strong Demand Fueling HYPE’s Rise
In the past day, HYPE experienced over $276 million in trading volume, indicating active investor participation. Hyperliquid has emerged as a leading decentralized platform, leveraging its unique consensus mechanism, HyperBFT, for secure operations. Initially launched without a native token, HYPE was introduced during the token generation event (TGE) on November 29.
The HYPE token plays multiple roles within the Hyperliquid ecosystem: it serves as a gas token for transactions on HyperEVM and facilitates staking, allowing users to lock tokens for platform security while earning rewards. HYPE can also be traded on Hyperliquid’s decentralized exchange (DEX), with pairs like USDC available for trading.
Community-Focused Launch with Strategic Airdrop
The HYPE launch featured a community-focused airdrop of 310 million tokens, representing about 31% of the total supply, emphasizing decentralization and community ownership. Additionally, Hyperliquid allocated 38.8% of the total supply for future rewards and incentives, reinforcing its commitment to rewarding users rather than centralized investors.