Coinspeaker
Hyperliquid’s HYPE Token Sees $1B USDC Inflows Put up-Launch
Hyperliquid, the decentralized perpetual buying and selling platform, has seen a flood of exercise since launching its native token,
HYPE
$27.23
24h volatility:
14.2%
Market cap:
$9.04 B
Vol. 24h:
$355.66 M
. Over $1 billion value of USDC has flowed into the platform for the reason that launch on November 29, in accordance to Blockchain analytics agency Spot On Chain. This important milestone highlights the rising curiosity within the potential of the Layer 1 blockchain.
At present, Hyperliquid’s deposit bridge holds a large $2.1 billion in
USDC
$1.00
24h volatility:
0.1%
Market cap:
$42.34 B
Vol. 24h:
$13.55 B
amid a large surge in buying and selling and funding exercise throughout the ecosystem. The platform’s distinctive strategy permits customers to commerce perpetual derivatives whereas aggregating liquidity from totally different sources, and it operates with native meme tokens like PURR and Factors.
Supply: Spot On Chain
HYPE’s launch got here with appreciable anticipation, particularly as a result of Hyperliquid had beforehand operated and not using a native token. The launch included a community-focused airdrop, drawing curiosity from decentralized finance (DeFi) fanatics.
Group-Pushed Success Pays Off
One cause for Hyperliquid’s surge is its dedication to a community-first strategy. Co-founder Jeff Yan emphasised this philosophy, stating “The Hyperliquid genesis pays homage to the original ethos of Bitcoin: ownership goes to the believers and doers, not rent-seeking insiders.”
In consequence, the HYPE token’s value has elevated by 774.73% within the final month. Initially value round $4 through the airdrop, HYPE lately climbed to $28, remarkably hitting a peak of $28.13 solely 23 minutes in the past on the time of writing. As Bitcoin surged to $106,000, the token adopted the same path, gaining 13.26% larger prior to now 24 hours, in accordance to CoinMarketCap.
Supply: CoinMarketCap
DefiLlama’s information reveals Hyperliquid’s complete worth locked (TVL) has exploded by over 1000% in only a month. With a present TVL of $2.89 billion, Hyperliquid ranks second amongst decentralized exchanges (DEXs), trailing solely Uniswap’s $6.82 billion. It additionally leads Solana-based Raydium and reveals a promising trajectory.
Hyperliquid Buying and selling Soars to New Highs
Buying and selling exercise on the platform has been phenomenal. Hyperliquid lately recorded a 24-hour buying and selling quantity exceeding $10 billion. Open curiosity additionally reached an all-time excessive of $4.3 billion, reflecting sustained engagement and rising person belief.
Hyperliquid reached a brand new all-time excessive in open curiosity of >$4.3B. pic.twitter.com/8YUwBEEWEU
— Hyperliquid (@HyperliquidX) December 16, 2024
Notably, Hyperliquid formally launched the ultimate proposal for the much-anticipated $HYPE Season 2 Rewards right this moment. The announcement provides a singular alternative: the primary 10,000 voters to take part will safe early adopter standing, granting them unique on-chain rewards.
Reminder, the ultimate proposal for the upcoming $HYPE Season 2 Rewards Date is now stay.
The primary 10,000 voters will develop into early adopters and unlock unique on-chain rewards.
Discover out extra: https://t.co/vmolGuJdbV pic.twitter.com/I8IFG12Zty
— HyperIiquid (@HyperliquiidsX) December 16, 2024
Hyperliquid’s HYPE Token Sees $1B USDC Inflows Put up-Launch
