HYPE TOKEN FROM HYPERLIQUID MADE 3X IN FIVE DAYS AFTER TGE
On December 4, the price of HYPE — the token of the decentralized trading platform (DEX) Hyperliquid — exceeded $12. Over the past five days since TGE, the asset has tripled in value.
HYPE is required for staking within the PoS consensus mechanism of HyperBFT and serves as a fee for processing transactions in the HyperEVM execution environment.
The token is also traded in pairs with USDC on the platforms of the Hyperliquid ecosystem. According to the team, the protocol's throughput reaches 200,000 TPS.
At the time of writing, the daily increase of the coin has slowed to 34.7%. By market capitalization ($1.55 billion), the asset ranks 46th. FDV reached $12 billion.
According to DeFi Llama, Hyperliquid has taken the top spot in TVL among decentralized perpetual swap platforms.