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Cryptocurrency News Articles

Hyperliquid (HYPE) Market Cap Surpasses Aave (AAVE), Vaults into Crypto Top 55

Dec 02, 2024 at 07:36 pm

Hyperliquid (HYPE) market cap surpasses Aave (AAVE), vaults into crypto top 55. HYPE trades at $9.51, up 7.5% today, with a total market value of nearly $3.17 billion

Hyperliquid (HYPE) Market Cap Surpasses Aave (AAVE), Vaults into Crypto Top 55

Hyperliquid (HYPE) has quietly entered the top 100 cryptocurrencies by market capitalization, and it’s now closing in on the top 50. The HYPE token trades at $9.43, up 6.5% over the past 24 hours, and another 24 hours of strong price action could see it overtake Aave (AAVE) and enter the top 55.

HL’s HYPE Token Surges Another 15%, Now Targeting Top 50 in Market Cap

After another double-digit price increase, Hyperliquid’s HYPE token is now targeting the top 50 in cryptocurrency market capitalization. The HYPE token price rose another 14.7% on Monday, reaching a new high of $9.36.

The strong performance comes after HYPE was listed on several major centralized exchanges, including Binance, Huobi, Gate.io, and MEXC. The HYPE token also began trading on several decentralized exchanges, including Uniswap (UNI), SushiSwap (SUSHI), and PancakeSwap (CAKE).

Hyperliquid is a decentralized perpetual exchange that runs on its own high-speed Layer 1 blockchain. The platform can handle over $6 billion in daily trading volume and supports $2 billion in open interest across its markets.

What sets Hyperliquid apart from other decentralized exchanges is its user-first approach, offering advanced features like perpetual futures with up to 50x leverage, deep liquidity spot trading with low fees, and one-click trading and TWAP orders.

Moreover, Hyperliquid’s custom proof-of-stake consensus, HyperBFT, facilitates up to 200,000 transactions per second and sub-second finality, maintaining a fully on-chain order book.

Airdrops and Roadmap Fuel HYPE’s Rise

The surging interest in HYPE can also be attributed to several airdrops that are rewarding early adopters of the Hyperliquid platform. These airdrops will distribute over 57.9 million HYPE tokens, with 20-31% of the total supply being allocated.

This means that early adopters could receive HYPE tokens worth $10-$15 each, considering the current market price. The airdrops are being distributed over a period of several months to those who meet specific criteria, such as using the Hyperliquid platform or holding other specific tokens.

In addition to the airdrops, Hyperliquid’s roadmap also includes some promising developments that are generating interest in the HYPE token. For instance, the HYPE token launch will see 57.9 million tokens being distributed, with 20% to 31% of the total supply allocated to airdrops.

This translates to early adopters potentially receiving HYPE tokens valued at $10 to $15 each. Read also: Promising Altcoins to Watch: WIF, ORDI, SUI, AAVE, and UNI

Missed $BNB and $UNI at launch?Don’t miss $HYPE.

- Airdrops worth $500M+ going directly to users.

- No VCs. No insider dumps.

- Built on a high-speed Layer 1 with real utility.

Here's why Hyperliquid could be the BNB of this crypto cycle… https://t.co/ACvoyMlqAD

As a refresher, $BNB launched at $0.15 and… pic.twitter.com/000g777777

Hyperliquid also plans to roll out HyperEVM in 2025, bringing full Ethereum compatibility and allowing developers to build applications that can be monetized through on-chain incentives.

With its combination of speed, decentralization, and user-friendly features, Hyperliquid and its HYPE token are well-positioned to become a dominant force in decentralized finance (DeFi).

News source:coinedition.com

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Other articles published on Dec 05, 2024