HyperLiquid Airdrops Over $1.2 Billion in HYPE Tokens as FDV Surpasses $4 Billion

The native token of the HyperLiquid decentralized exchange, HYPE, has gained impressively as it surged over 11% since its token generation event earlier today to reach a price of $4.2. Such a price movement has brought in a fully diluted valuation (FDV) of $4.2 billion.

As of now, more than 333 million HYPE tokens are in circulation from a total supply of 1 billion tokens, which gives a market cap of around $1.4 billion to the token.

The supply of HYPE is fully capped at 1 billion tokens. After the token generation event, 31.0% or 310 million of the fully unlocked supply was distributed among eligible community users through an airdrop.

The HYPE token has been released into quite a highly active market with its trading volumes exceeding $250 million in the last 24 hours; this indicates heavy demand for the coin.

HyperLiquid Airdrop Brings Huge Gains For Users

HYPE token was rolled out via an airdrop where users had eligibility based on reward points accumulated over the six-month period ending in May. This meant that a point gained translated to 5 tokens earned for the eligible account holders.

Despite typical sell pressure from airdrop recipients, the demand for HYPE seems to be outpacing supply, which suggests positive market sentiment and strong upward momentum.

Some HyperLiquid airdrop recipients have taken to X.com to share their success stories. One user of the decentralized derivatives exchange reported earning more than $300,000 from their airdropped tokens. Another user posted, "I got a nice drop too," along with a screenshot showing over $18,000 earned from their allocation.

Role of HYPE Token in HyperLiquid Ecosystem

The HYPE token has a significant role in the HyperLiquid ecosystem. It can be staked to secure HyperBFT, an optimized proof-of-stake consensus mechanism that guarantees network security and promotes decentralization. Moreover, HYPE is the native gas token for HyperEVM, the execution environment of the platform, which facilitates transaction fees and enhances the overall utility of the network.

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