The total value of Hyperliquid (HYPE) tokens received by users during the airdrop of the Hyperliquid crypto exchange on November 29 exceeded $1.2 billion. This made the HYPE distribution one of the largest airdrops in 2024.

Hyperliquid is a decentralized platform for trading futures contracts in the crypto market. The HYPE token plays an important role in the project's ecosystem, serving multiple functions, and it can be directed to staking to support the project's blockchain. HYPE was distributed as part of the token giveaway to users who accumulated bonus points for their activity.

The total number of Hyperliquid tokens will be limited to 1 billion. On November 29, the project issued and distributed 31% (310 million) of HYPE tokens. Their market capitalization reached $1.48 billion, according to CoinGecko at 17:00 MSK. The fully diluted valuation (FDV) of the tokens exceeded $4.4 billion.

Since its launch, the HYPE price has increased by more than 13% and reached $4.61. As of 17:00 MSK, the token is trading around $4.43.

The token launch has sparked significant market activity. Since the launch, the trading volume of HYPE has exceeded $328 million.

The Hyperliquid airdrop has become one of the largest since the beginning of this year. Previously, the leaders in the volume of distributed tokens included the crypto exchange Jupiter, the blockchain.