Hyperliquid’s HYPE token surges 60% after billion-dollar airdrop
Hyperliquid has distributed over 300 million HYPE tokens to eligible community members on Nov. 29.
Decentralized finance (DeFi) protocol Hyperliquid has entered the ranks of the largest airdrops in history with its genesis event on Nov. 29, when it distributed 310 million HYPE tokens to its community.
At the launch, the HYPE token was valued at $3.90, placing the total distribution at $1.2 billion, according to data from CoinGecko. The token’s value jumped by 63% within approximately 12 hours, trading at $6.16 at the time of this report. Its market capitalization currently nears the $2 billion mark.
HYPE token price on Nov. 29. Source: CoinGecko
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Author: Ana Paula Pereira
