HyperLiquid airdrop lives up to the $HYPE as token soars 24%

Key Takeaways

• HYPE token surged to $4.8 from $3.2, with a fully diluted value of $4.8 billion.
• Airdrop recipients shared substantial gains, with some reporting six-figure windfalls, highlighting strong demand despite expectations of sell pressure.

HyperLiquid’s HYPE token airdrop delivered massive payouts to users, as the token soared from $3.2 to $4.8, living up to expectations.

The fully diluted valuation reached $4.8 billion, with a market capitalization of approximately $1.6 billion.

The decentralized perpetual trading platform and Layer 1 chain saw its token surge over 24% just a couple of hours after the token generation event.

Over 333 million tokens are now in circulation, while trading volume reached $165 million in the first hour alone.

The token was distributed through a six-month-long community airdrop program, ending in May, where users earned eligibility by accumulating reward points, each point translated to five HYPE tokens.

Recipients of the HYPE airdrop have shared their success stories on platform X, with some expressing surprise at the token’s value.

User CC2 Ventures posted a screenshot revealing their airdrop exceeded $1 million, thanking the HyperLiquid team.

Another user noted an example where a recipient’s HYPE airdrop surpassed $100,000, even though they faced an $8,000 loss on $15,000 in trading activity.

HyperLiquid allocated 31% of HYPE’s total supply to users through today’s airdrop as part of the genesis distribution.

Additionally, 38.88% is set aside for future emissions and community rewards to ensure continued user engagement, while 23.8% is reserved for core contributors.

HYPE serves multiple functions within the ecosystem, including staking for the HyperBFT proof-of-stake consensus algorithm, paying transaction fees, and developing DeFi applications.