The Hyper Foundation finished giving out the first batch of HYPE tokens, which are for the Hyperliquid Network (a fast blockchain made for decentralized finance, or DeFi). They gave users over $1.6 billion worth of these tokens because the price of each token was at its highest, $5.40, since the network started overnight.
Users got 31%, or 310 million, of the total one billion HYPE tokens. Another 38.88% is kept for future rewards and community members. Importantly, no tokens were given to private investors, big exchanges, or people who help set the price. The $1.5 billion worth of tokens given to users makes the HYPE airdrop the seventh largest in the history of cryptocurrency.
Some users said they got a lot of tokens in the big drop. “Woke up to a mid-6-figure airdrop today for HYPE. Largest airdrop of my life,” said a famous person in the cryptocurrency world. Hyperliquid’s Perp decentralized exchange (DEX) is the most important product on the Hyperliquid blockchain, which is called a “strong and modern” layer-1 network.
Since March 2024, the exchange has helped over $334 billion in total trade and ranks #7 in 24-hour DEX volume, according to CoinGecko. Since the start, the price of HYPE has gone up 38% and is now trading at $5.40 with a market value of $1.74 billion, making it the 73rd most valuable token in the world, according to CoinGecko.
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