• Hyperliquid’s HYPE token surpasses Aave (AAVE) in market capitalization
• HYPE currently trades at $9.51, up 7.5% in 24 hours
• Hyperliquid offers fast, decentralized perpetual futures and spot trading

Hyperliquid’s HYPE token has surpassed Aave (AAVE) in market capitalization, becoming the 55th largest cryptocurrency. HYPE trades at $9.51, up 7.5% today, with a total market value of nearly $3.17 billion. Aave, another leading DeFi project, trades at $210.60, up 0.4% over the same period, with a market cap of around $3.16 billion.

HYPE’s dramatic rise highlights the growing popularity and adoption of the Hyperliquid platform, a decentralized perpetual exchange running on its own high-speed Layer 1 blockchain. Hyperliquid handles over $6 billion in daily trading volume and supports $2 billion in open interest across its markets.

What sets Hyperliquid apart is its user-first approach, offering advanced features like perpetual futures with up to 50x leverage, spot trading with deep liquidity and low fees, and innovative tools like one-click trading and TWAP orders. On top of that, Hyperliquid’s custom proof-of-stake consensus, HyperBFT, facilitates up to 200,000 transactions per second and sub-second finality, all while maintaining a fully on-chain order book.

Airdrops and Roadmap Fuel HYPE’s Rise

In addition to its user-centric platform, HYPE’s surging interest stems from its ambitious roadmap. The HYPE token launch will distribute over 57.9 million tokens, with 20-31% of the supply allocated to airdrops. This means early adopters could receive HYPE tokens worth $10-$15 each.

Read also: Promising Altcoins to Watch: WIF, ORDI, SUI, AAVE, and UNI

Looking ahead, Hyperliquid plans to roll out HyperEVM in 2025, bringing full Ethereum compatibility and allowing developers to monetize their applications through on-chain incentives. With its combination of speed, decentralization, and user-friendly features, Hyperliquid and its HYPE token are positioned to become a dominant force in DeFi.