HYPE Token from Hyperliquid Triples in Value Within Five Days Post-TGE

On December 4, the price of HYPE, the token of the decentralized trading platform (DEX) Hyperliquid, surpassed $12. Over the past five days since the TGE, the asset has tripled in value.

HYPE is essential for staking within the HyperBFT PoS consensus mechanism and serves as a fee for processing transactions in the HyperEVM execution environment.

The token is also traded against USDC on Hyperliquid ecosystem platforms. According to the team, the protocol’s throughput reaches 200,000 TPS.

At the time of writing, the daily increase of the coin slowed to 34.7%. With a market capitalization of $1.55 billion, the asset ranks 46th. FDV has reached $12 billion.

According to DeFi Llama, Hyperliquid has reached the top position in TVL among decentralized perpetual swap platforms.

Anmol Singh, co-founder of Zeta Markets, explained to The Block that the project’s success is due to the growing popularity of DEX.

The expert noted that such platforms are increasingly becoming the preferred choice for token launches, bypassing centralized exchanges, which are criticized for a lack of transparency and community alignment.

“By 2025, we will see most launches occurring on DEX, making them the obvious choice over CEX,” the expert predicted.

Earlier on December 4, BNB reached a new ATH following the announcement of a platform for launching meme coins.

In November, Pump.fun collected a record $93 million in fees (+208% month-on-month). This surge allowed Solana to become a leader in DEX trading volume.