10 Sets of Data to Understand Hyperliquid

Hyperliquid has amassed $1.58 billion USDC in assets. The airdrop distributed 274 million HYPE tokens, driving the token’s market cap to $4.75 billion and its FDV to $14.2 billion. Hyperliquid's futures open interest has grown 58.5% to $3.55 billion, and its daily trading volume hit a record $9.79 billion. Its Assistance Fund, backed by USDC trading fees, has repurchased 567,083 HYPE tokens and generated $82 million in profit, while the Hyperliquid Provider Vault (HLP) has earned $45 million in PnL gains with a 34% APR. With estimated annual revenue of $94.41 million, Hyperliquid is now one of the most profitable crypto protocols. Read more — Blockchain News.

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Pudgy Penguins overtakes BAYC as second-largest NFT collection by market cap

Pudgy Penguins’ floor price jumped 8.4% in the past 24 hours to 22.1 ETH ($86,922), boosting its market cap to $772.5 million.BAYC’s market cap stood at $755 million, while CryptoPunks remained the largest NFT collection with a market cap of $1.5 billion.

Pudgy Penguins, a popular non-fungible token project, has overtaken Bored Ape Yacht Club to become the second-largest NFT collection by market capitalization.

Pudgy Penguins’ floor price jumped 8.4% over the past 24 hours to 22.1 ETH ($86,922), marking a weekly increase of 44.9%, according to CoinGecko data. This boosted its market cap to $772.5 million, surpassing BAYC’s $755 million. CryptoPunks remains the largest NFT collection, with a market cap of $1.5 billion.

The rise in Puddgy Penguins NFTs follows last week’s announcement of an upcoming official token airdrop. The project is expected to launch its crypto token named “Pengu” on the Solana network this month, with a total supply of 88,888,888,888 tokens. According to a post on X, it plans to allocate 25.9% of the supply to the Pudgy community.

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According to Bloomberg, since Trump was elected as the US president, US ETFs that invest directly in Bitcoin have attracted nearly $10 billion in inflows, with people betting that Trump's embrace of the cryptocurrency industry will herald a market boom. — Blockchain News

US Bitcoin ETF Inflows Near $10 Billion Since Trump Election Win
Almost $10 billion has poured into US exchange-traded funds investing directly in Bitcoin since Donald Trump became president-elect, in a bet that his embrace of the crypto...

https://www.bloomberg.com/news/articles/2024-12-09/us-bitcoin-btc-etf-inflows-near-10-billion-since-trump-election-win

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Bitcoin Hits New Heights Amid Post-Election Bullish Sentiment:

The cryptocurrency market, led by Bitcoin, is experiencing a significant surge following recent political developments. Bitcoin, the flagship cryptocurrency has reached record highs, fueled by growing optimism in the wake of post-election clarity and increasing institutional interest. Here's a breakdown of what's driving this bullish trend.

Political Developments Supporting Bitcoin's Rally:

Resolving major political uncertainties has instilled confidence in both traditional and crypto markets. As governments worldwide adopt clearer stances on cryptocurrency regulation, Bitcoin appears to benefit from a narrative of stability and legitimacy. Political clarity often prompts investors to shift towards decentralized assets as part of their diversification strategy.

Institutional Support Driving Adoption:

Major institutional players, including hedge funds, asset management firms, and publicly traded companies, are increasingly allocating funds to Bitcoin. This trend underscores its emerging status as a reliable store of value and hedge against inflation. High-profile endorsements and investments signal to retail investors that Bitcoin is no longer a speculative asset but a critical part of a modern investment portfolio.

Broader Impacts on the Crypto Ecosystem:

The current rally has a ripple effect across the cryptocurrency ecosystem. Altcoins, including Ethereum, also see significant gains as new investors explore opportunities beyond Bitcoin. Decentralized finance (DeFi) projects and blockchain-based innovations continue to attract attention, further solidifying the sector's growth trajectory.

Conclusion: A Bullish Outlook for Bitcoin:

As Bitcoin reaches new milestones, the growing acceptance among institutions and governments suggests the trend could continue. The combination of regulatory clarity, increased adoption, and strong market fundamentals paints a promising picture for the cryptocurrency market. For more in-depth analysis, check out updates from platforms like Blockpit.

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