TechFlow reported on December 2 that, according to The Block, the HYPE token price of Hyperliquid, a decentralized perpetual contract trading platform, has continued to rise, with its current market capitalization reaching $3.1 billion, surpassing the lending platform Aave. Data shows that since its token airdrop, HYPE has seen significant gains, currently priced at $9.39, with a fully diluted valuation of $9.4 billion.
On December 1, the platform distributed 310 million HYPE tokens without vesting periods to early users, initially valued at approximately $1.2 billion, which has now increased to $2.9 billion. Yesterday, Hyperliquid accounted for 47% of the trading volume in the derivatives DEX sector, while its main competitor, Synfutures, saw a 30% drop in trading volume over the past two days. However, some industry insiders have questioned the platform's closed-source nature, potentially affecting data credibility.
