HYPE Token Staking Goes Live: $9.2 Billion Market Cap Propels It to Top 20

HYPE Token Staking Sparks $8.4 Billion Lockup, Surging Past Major Cryptos

According to a post on X on Monday, HyperLiquid, which is well-known for its decentralized derivatives exchange, allowed holders of its HYPE token to engage in native staking. Stakers will receive compensation for protecting the network and can choose which validator to stake tokens with. 300 million tokens ($8.4 billion) were staked by HyperLiquid at launch, and consumers added an additional 7 million tokens throughout the first hour. A total of sixteen validators stake the tokens.

Staking was introduced one month following the HYPE token‘s issuance. According to CoinMarketCap, it started at $3.57 and has now increased to $27.89. After surpassing Bitcoin Cash (BCH), Pepe (PEPE), and Litecoin (LTC), HYPE currently has a market valuation of $9.2 billion, placing it in the top 20 largest tokens.

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