- Hyperliquid’s native token, HYPE, has seen a sharp increase in value, surpassing $12 billion in its fully diluted price.
- Its current market capitalization is $4 billion, with 333 million of its 1 billion tokens in circulation.
Since its token production event on November 29, the token, which was introduced by Hyperliquid, a decentralized everlasting trading platform and Layer 1 blockchain, has increased by more than 200%. According to CoinGecko data, the coin, which is currently trading at $12.11, has increased in value by almost 30% during the past day.
The token’s fully diluted worth (FDV) has surpassed $12 billion due to its sharp price increase. The current market valuation of HYPE is approximately $4 billion, with 333 million tokens in circulation out of a maximum supply of 1 billion. The token’s 24-hour trading volume, which surpassed $258 million, shows the interest from investors.
DeFiLlama data indicates that Hyperliquid has been the most popular decentralized perpetual swap platform in terms of trade volume and total value locked.
The introduction of Hype DEX by HyperLiquid
Anmol Singh, a co-founder of Zeta Markets, saw the large trading volumes around HYPE’s debut as evidence of the increasing popularity of everlasting platforms and decentralized exchanges. Singh observed that, instead of using centralized exchanges, DEXs are increasingly being chosen for token launches.
Centralized exchanges are now cumbersome and out of date. They offer little to the community or the protocols they list, and they take more than they give. According to the co-founder of Zeta Markets, the popularity of DEX token launches isn’t a passing fad. DEXs will be the obvious choice over CEXs by 2025, when the majority of token launches will take place on them.
HYPE serves a variety of purposes that improve the platform’s usefulness and decentralization, making it an essential component of the HyperLiquid ecosystem. HyperBFT, an enhanced proof-of-stake consensus system that guarantees network security and encourages decentralization, can be staked to protect it. Furthermore, HYPE facilitates transaction fees as the native gas token for the HyperEVM, the network’s execution environment.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
