HYPE token experienced a remarkable price increase of over 100% within 24 hours following its airdrop. This surge was triggered by the layer1 blockchain Hyperliquid's distribution of over 300 million HYPE tokens, equivalent to $1.6 billion, to its eligible community members.
On the release day, the airdropped HYPE tokens, as recorded by CoinMarketCap, led to a substantial uplift in the token's market valuation and interest among investors.
