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<p><strong>Key Points:</strong></p><ul class="wp-block-list"><li><em>HyperLiquid native token HYPE saw a 101% price increase within 24 hours following its TGE on November 29.</em></li><li><em>The protocol distributed 310 million HYPE tokens during its TGE, making it one of the largest airdrops in DeFi history.</em></li></ul><h5 class="wp-block-heading">HyperLiquid, a DeFi protocol, has caught much attention from the market after <a href="https://x.com/HyperliquidX/status/1862402701705060486" rel="noopener noreferrer nofollow">announcing</a> the launch of its native token HYPE in its Token Generation Event (TGE) on November 29.</h5><figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/image-369-16.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/image-369-16-1024x576.jpg" alt="Hyperliquid Native Token HYPE Exceeded $600M Volume After The Airdrop" class="wp-image-294536"></a><figcaption class="wp-element-caption"></figcaption></figure><p class="has-background">Read more:<a href="https://coincu.com/242737-revolut-paused-some-crypto-services-by-fca/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/282672-kraken-lightning-network-is-now-suspended/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/wp-admin/post.php?post=288824&amp;action=edit" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/259100-tornado-cash-developer-sentenced-in-prison/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/288904-ripple-sec-lawsuit-intensifies-again/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/294412-hyperliquid-airdrop-set-new-standard-crypto-2024/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/wp-admin/post.php?post=294412&amp;action=edit" rel="noopener noreferrer nofollow">Hyperliquid Airdrop Sets New Standard in Crypto for 2024</a>&nbsp;</p><h2 class="wp-block-heading" id="hyperliquid-native-token-hype-rises-101-price-after-tge-event">HyperLiquid Native Token HYPE Rises 101% Price After TGE Event.</h2><p>In the last 24 hours, the HyperLiquid native token has shot up in the market by 101%, increasing its value from $3.31 at launch to over $6.50. In view of this high demand, its trading volume exceeds $600 million, and HYPE's market capitalization has now gone over $2 billion. At the time of this report, HYPE was approximately $6.5, and FDV was nearly $6.45 billion.</p><figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-11.56.51-scaled.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-11.56.51-1024x437.jpg" alt="" class="wp-image-294530"></a><figcaption class="wp-element-caption"><em>Source: <a href="https://coinmarketcap.com/currencies/hyperliquid/" rel="noopener noreferrer nofollow">CoinMarketCap</a></em></figcaption></figure><p>The airdrop of 310 million HYPE tokens to the community made HyperLiquid one of the biggest airdrops in DeFi history, with the event having allocated 31% of the total supply of tokens to users.</p><p>In addition, 38.88% of this supply is earmarked for future emissions, keeping the community rewarded and active, while 23.8% is reserved for the core contributors in the development of the HyperLiquid blockchain.</p><h2 class="wp-block-heading" id="hyperliquid-s-scalable-blockchain-powers-defi-ecosystem">HyperLiquid's Scalable Blockchain Powers DeFi Ecosystem</h2><p>HyperLiquid native token HYPE is the staking asset that acts as securing behind the HyperBFT consensus mechanism, while it also works as a gas token for its EVM-compatible layer HyperEVM.</p><p>According to <a href="https://data.asxn.xyz/dashboard/hl-spot-ecosystem" rel="noopener noreferrer nofollow">ASXN Data</a>, since yesterday's TGE event, the daily trading volume of the on-chain derivatives project Hyperliquid's native token HYPE is now at the top of the <a href="https://coincu.com/268671-hyperliquid-review-derivative-dex-on-self-l1/" rel="noopener noreferrer nofollow">Hyperliquid ecosystem</a>.</p><figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-11.55.14.png" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-11.55.14-1024x479.png" alt="" class="wp-image-294531"></a><figcaption class="wp-element-caption"><em>Source: ASXN Data</em></figcaption></figure><p>The proof-of-stake consensus-based blockchain from HyperLiquid can perform an amazing 200,000 transactions per second and thus will be extremely scalable for decentralized applications.</p><figure class="wp-block-table"><table class="has-luminous-vivid-orange-color has-text-color has-link-color"><tbody><tr><td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td></tr></tbody></table></figure><a href="https://coincu.com/?p=294528" rel="noopener noreferrer nofollow">Read original article on coincu.com</a>

Hyperliquid Native Token HYPE Exceeded $600M Volume After The Airdrop

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