HyperLiquid Airdrop Token Price: $HYPE Flies Through 125%, Still a Bullish Signal?

Bittime - $HYPE, the native token of Decentralized Finance (DeFi) protocol HyperLiquid recently had a massive airdrop. This immediately raised the price of $HYPE up to 125% in just 24 hours! 

This significant price spike has made many people wonder, is this a sign of continued bullishness or will there be a price decline? Let's take a deeper look at how this airdrop happened, the price dynamics of $HYPE, and what to expect going forward.

HyperLiquid Airdrop: Giveaway of 310 Million $HYPE Tokens

The HyperLiquid airdrop, which started on November 29, 2024, is one of the largest in crypto history. 310 million $HYPE tokens distributed to the community. 

Overall, 31% of the total token supply (equivalent to 310 million tokens) was allocated for this airdrop, with an estimated value of $1.2 billion (Rp. 18.96 trillion) at the initial listing price. 

This move is a great strategy for HyperLiquid to build a solid user community, while maintaining the hype around their token.

Read also: Hyperliquid Airdrop Gives Out $HYPE Tokens: How to Play and Listing Date?

Interestingly, HyperLiquid takes a slightly different approach by not setting aside tokens for private investors or centralized crypto exchanges. This is a step that is rarely encountered in similar projects. 

Instead, they prefer to distribute tokens directly to the community and use HyperLiquid Treasury to hold unclaimed tokens, which will later be used for future airdrops.

$HYPE Price: 125% Surge in 24 Hours

Source: CoinGape

Since its launch, $HYPE price has shown a very impressive performance. At an initial listing price of around $3.90 (Rp. 61,620), this token immediately skyrocketed and recorded an all-time high price (ATH) of $7.11 (Rp. 112,558), an incredible increase of around 125% in less than 24 O'clock.

However, the price fell slightly after reaching the ATH, and at the time of writing, $HYPE was trading at around $6.87 (Rp. 108,618), with a recorded trading volume of $587 million (Rp. 9.27 trillion). 

This high trading volume clearly shows that this token has great demand in the market, which could be a positive signal for investors.

However, the phenomenon of prices soaring sharply after an airdrop is often followed by price drops due to selling pressure from those who obtained tokens for free. Some airdrop tokens, such as X Empire and Hamster Kombat, experienced something similar, where their prices dropped sharply after the distribution phase was completed.

Read also: What is a Hyperliquid Airdrop?

Potential Price Decline If Selling Pressure Increases

Even though the price of $HYPE is flying high, there are still big risks lurking. Since airdrop tokens are usually distributed free of charge to users, many recipients tend to sell the tokens they get as soon as the price spikes. 

This creates selling pressure that can reduce the price of the token significantly. However, this has not been the case for $HYPE, which is still showing positive momentum. 

If token recipients hold off on selling, the price of $HYPE could continue to grow. However, if the majority of users decide to sell their tokens to make quick profits, then the price of $HYPE could potentially experience a sharp correction.

What Can We Expect from $HYPE Going Forward?

With a market capitalization that has reached around $3.1 billion (around IDR 49.5 trillion) and more than 333 million tokens in circulation, $HYPE is on track to become a significant player in the DeFi ecosystem. 

However, price movements in the next few days will be greatly influenced by the decisions of token holders. If many choose to hold their tokens, then the price of $HYPE could continue to rise, signaling the start of a longer bullish trend.

However, if selling pressure becomes greater, we may see a significant price correction. This is like what happened to many other tokens after the airdrop. 

Therefore, it is important for investors and users to continuously monitor these developments and make decisions based on thorough market analysis.

Read also: How to Play Hyperliquid Airdrop

Conclusion

$HYPE has managed to attract the attention of many people with a 125% price surge in a short time after the airdrop. With a large community and a market capitalization of more than $3.1 billion (around IDR 49.5 trillion), $HYPE has huge potential in the crypto world. 

However, as with many other token airdrops, there is a risk that the price could fall sharply due to heavy selling by token recipients.

For those of you who are interested in investing or getting further involved with the $HYPE token, make sure to continue monitoring price movements and decisions taken by the community. 

$HYPE still has a lot of potential, but like all crypto assets, price movements can be very volatile. So, stay careful and make sure you don't miss the latest information about the HyperLiquid Airdrop Token Price!

FAQ About HiperLiquid

What is HyperLiquid?

Hyperliquid is a layer-1 blockchain based on a proof-of-stake consensus mechanism, designed to process up to 200,000 transactions per second.

What is HyperLiquid's valuation?

HyperLiquid's Native HYPE Token Debuts with a Fully Diluted Value (FDV) of $9.3 billion.

Is HyperLiquid any good?

Hyperliquid dominates the perpetual futures market. The Hyperliquid token may mirror the performance of other exchange tokens that have performed well in recent years. 

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Reference: 

CoinGape, article CoinGape, accessed December 1, 2024

coinmarketcap, HyperLiquid Coinmarketcap, accessed December 1, 2024

Author: Y