HYPE price prediction – Can this token really replicate UNI’s historic rally?
Hyperliquid [HYPE] is one of the largest airdrops seen in crypto history. The Decentralized Finance (DeFi) protocol token was valued at $3.9 initially. On 29 November, it distributed 310 million HYPE tokens to its community.
This meant that $1.2 billion was distributed to its community. HYPE was distributed through a six-month program that ended in May, one where users accumulated reward points to earn eligibility for the airdrop.
The HYPE token is central to the Hyperliquid ecosystem. A layer-1 Proof of Stake (POS) blockchain, Hyperliquid is designed to process over 200,000 transactions per second (TPS).
The HYPE token is central to the Hyperliquid ecosystem and serves as gas for the blockchain’s Ethereum Virtual Machine compatible layer HyperEVM. This decentralized perpetual exchange exists on its own L1, lowering settlement time and increasing security.
