The HYPE tokens have experienced a significant surge in value, achieving a market cap of $2.6 billion. This growth has been driven by a bullish market and the successful airdrop conducted by Hyperliquid, a DeFi protocol.
During its genesis event on November 29, Hyperliquid distributed 310 million HYPE tokens to its community. This airdrop is considered one of the largest in history, further contributing to the token's popularity and market performance.
Despite the positive momentum, there are questions about whether HYPE can maintain its current trajectory in the crypto market as investors evaluate future prospects.
