With the launch of Kinetiq on the Hyperliquid platform, an anticipated event in the ecosystem, operations with HYPE tokens are becoming more active.
About Kinetiq Launch
The Kinetiq project announced its official launch on the HyperEVM blockchain on July 15. This event is expected to be significant within the Hyperliquid ecosystem.
HYPE Token Activity
Following the announcement of Kinetiq's launch, a significant number of investors holding HYPE tokens began the unstaking process. Approximately 1 million HYPE, equivalent to $40 million, is queued for withdrawal from existing validators. Kinetiq representatives noted, "This notification was made to provide extra time for users in different time zones, considering the 7-day unstake period of HYPE tokens." A substantial portion of the unstaking requests appears to be concentrated in three major wallets looking to withdraw 847,000 HYPE worth around $33.5 million.
Hyperliquid Metrics
Hyperliquid continues to show strong results in decentralized futures, with a trading volume of $5 billion in the last 24 hours and over $200 billion in the last 30 days. This is nearly 10 times the volume of its closest competitor, according to DeFiLlama data.
As the launch of Kinetiq approaches on Hyperliquid, the activity of investors and major HYPE token holders is increasing, which may impact the further development of the ecosystem.
