Key Takeaways
- HyperLiquid has launched staking for HYPE tokens, allowing holders to delegate their tokens to validators.
- HYPE’s market capitalization has reached $9 billion, surpassing tokens such as Uniswap and Litecoin.
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HyperLiquid has launched native staking for the HYPE token, allowing holders to delegate their tokens to 16 validators and earn rewards while protecting the network.
At launch, the layer 1 perpetual futures DEX held over 300 million HYPE tokens worth $8.4 billion.
“Staking is an important milestone for HyperLiquid as it allows the diverse community of HYPE stakers to collectively secure the network,” the HyperLiquid Foundation posted on X.
The post also encouraged users to consider various metrics when choosing a validator, such as uptime, commission rate, reputation, and community contribution.
Launched at $3.50 on November 29, the HYPE token has experienced incredible growth, soaring more than 890% to reach an all-time high of $34.96.
Currently trading at $26.90, the token is down 2.5% in the last 24 hours and has a market capitalization of $9 billion.
This valuation makes HYPE a top 20 token by market capitalization, surpassing Uniswap, Litecoin, and PEPE.
HyperLiquid also announced a delegation program that aims to strengthen decentralization by incentivizing high-performing validators.
This initiative comes with impressive ecosystem growth, with HyperLiquid trading volume reaching $4 billion in the last 24 hours, according to X3 Research’s Dune dashboard.
Additionally, according to DefiLlama data, the platform generates daily revenue of over $1 million.
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