The HYPE token of the decentralized exchange Hyperliquid has reached a new all-time high and surpassed Dogecoin in terms of fully diluted valuation (FDV). HYPE’s market cap now exceeds $12 billion, placing the token 12th on CoinMarketCap — despite not being listed on any of the major crypto exchanges.
Hyperliquid operates as a DEX on its own blockchain. Functionally, the platform resembles traditional exchanges, offering leveraged trading and high liquidity. The exchange commands 75% of the perpetual futures market share among DEX platforms, and the HYPE token airdrop in November 2024 became the largest in crypto market history.
Hyperliquid operates as a DEX on its own blockchain. Functionally, the platform resembles traditional exchanges, offering leveraged trading and high liquidity. The exchange commands 75% of the perpetual futures market share among DEX platforms, and the HYPE token airdrop in November 2024 became the largest in crypto market history.