Hyperliquid Surges 7% as $8 Billion Daily Volume Highlights Growing Adoption

Hyperliquid's latest price was $43.74, up 6.998% in the last 24 hours. Hyperliquid is a decentralized exchange that operates on its own blockchain, known as the HyperEVM. This platform offers crypto-based perpetual futures, which are currently denominated in USDC, with plans to introduce crypto-denominated contracts in the future. Hyperliquid has gained significant attention due to its high-speed, feature-rich platform that provides a smooth user experience, low latency, and reliability in a decentralized environment. The platform has established itself as the leading derivatives decentralized exchange, capturing a substantial market share and boasting high daily trading volumes.

One of the key features that make Hyperliquid and its ecosystem a top prospect for airdrop hunters is its tokenomics and the way the team handled its genesis token distribution. The HYPE token was launched through an airdrop to early backers and users of the Hyperliquid exchange, with no private presales or venture capital involved. This approach has garnered community support and enthusiasm, as nearly 40% of the remaining supply is locked for future emissions and community rewards. This has led to speculation that there will be more airdrops in the near future, attracting users to the ecosystem.

In addition to HYPE’s attractive tokenomics, many protocols within the Hyperliquid ecosystem have active point systems that reward participation. These points are expected to transition into a token model, distributing parts of their supply through airdrops. This has drawn airdrop hunters to pour millions into the ecosystem, as they anticipate potential rewards for their participation.

The HYPE token is the native cryptocurrency at the heart of the entire Hyperliquid ecosystem and serves as the gas token of the HyperEVM. Its utilities include reduced fees on the Hyperliquid decentralized perpetuals exchange, staking to receive yield and support the network, participating in voting to shape the network, and becoming a validator. The team is actively working on additional features that will be accessible through HYPE ownership, further integrating the token into the ecosystem.

Hyperliquid’s ecosystem has emerged as a key target for airdrop farmers due to the relatively young age of the teams building on the HyperEVM. Many of these teams have launched their own point systems, indicating an impending airdrop. Airdrops have become a powerful tool for bootstrapping communities, as users who anticipate a token launch will deliberately promote the protocol and take full advantage of its features to guarantee potential qualification.

To qualify for a potential HYPE airdrop, users can follow a step-by-step process that involves bridging funds to the Hyperliquid app, using the Hyperliquid DEX for perps and spot trading, depositing USDC into the Hyperliquidity Provider (HLP) vault, staking HYPE to secure the network and earn yield, and transferring HYPE to the HyperEVM to interact with various dApps. These actions support the protocol and demonstrate active participation in the ecosystem, increasing the likelihood of qualifying for a future airdrop.

Some of the most popular HyperEVM-based protocols that have point systems and provide an expanded suite of functionalities for airdrop farming include HyperLend and HypurrFi. HyperLend is a high-performance lending protocol centered around capital efficiency, offering features such as real-time leverage, deep liquidity, and dynamic interest rates. Users can farm for a HyperLend airdrop by connecting their wallet to the HyperLend dApp, supplying assets to the lending pools, borrowing funds, looping leverage, swapping assets, and referring friends.

HypurrFi introduces a leveraged lending marketplace built natively on Hyperliquid’s HyperEVM, enabling users to create leverage loops and earn a yield on their original deposit. The protocol powers the USDXL stablecoin, which is minted against overcollateralized deposits and backed by a growing vault of tokenized US Treasuries. Users can farm for a HypurrFi airdrop by connecting a wallet to the HypurrFi dApp, supplying assets to various liquidity pools, borrowing USDXL or other supported assets, looping leverage, and utilizing various features such as isolated markets and pools.

Hyperliquid has achieved a significant milestone by surpassing $8 billion in daily trading volume on its decentralized derivatives platform. This substantial volume highlights growing activity and adoption on the protocol, reflecting increased user engagement. The platform expanded its offerings by listing the PUMP-USD hyperps contract. This new instrument allows traders to gain leveraged exposure to the unlaunched $PUMP token, specifically offering up to 3x leverage. Trading activity for this pre-launch contract commenced rapidly, with the market experiencing significant early volatility.

The introduction of the PUMP-USD contract has generated considerable interest among traders seeking early access to the $PUMP token derivative market. Substantial trading volume was quickly generated, demonstrating demand for leveraged positions on the token prior to its official launch. This facility allows market participants to speculate on the token's future price movement with amplified exposure.