The recent airdrop of HYPE tokens by the Hyperliquid platform led to a rapid increase in their value by more than 100%. This event is one of the largest airdrops in the history of DeFi, capturing the crypto community's attention.
Rapid Rise of HYPE Token
Following the airdrop, the value of HYPE tokens increased by more than 100% in less than 24 hours. According to CoinMarketCap, the token is trading above the $6.8 level, briefly touching $7. Its market capitalization has surpassed $2 billion, with trading volume around $628 million.
Hyperliquid's $1.6 Billion Airdrop
Hyperliquid referred to the HYPE token airdrop as the 'Genesis Event.' In this event, 31% of the 1 billion HYPE tokens were distributed. The remaining 38.8% are reserved for future emissions and community rewards, while 23.8% are allocated to core blockchain contributors. Notably, no tokens will be allocated to private investors, centralized exchanges, or market makers, emphasizing the public significance of this event.
HYPE: A Top Trending Altcoin
Following the airdrop announcement and significant price rise, HYPE tokens are trending on the crypto aggregator CoinMarketCap. The token is ranked third among top trending altcoins, following XRP and SXCH tokens from the SolarX project. Additionally, Hyperliquid and its DeFi protocol have become popular search terms on Google Trends.
Hyperliquid's record-breaking DeFi airdrop has boosted the HYPE token to new heights, attracting attention to the platform's ecosystem and its future development. This event underscores the importance of innovation within the crypto industry and enhances interest among its participants.
