Hyperliquid recently witnessed a remarkable rise in its HYPE token value, which surged by 125% within 24 hours post a major airdrop, marking an all-time high of $7.11. The airdrop involved an allocation of 310 million tokens, constituting 31% of the total supply. This event is recognized as one of the largest airdrops recorded in the crypto domain.
The excitement surrounding the token is palpable, with significant players or 'whales' claiming considerable profits from the airdrop. However, these early advantages bring challenges; often airdropped tokens encounter substantial selling pressure. Investors and market observers remain cautious, keeping a close watch on market trends.
