Hyperliquid Launches HYPE Staking on Mainnet, Token Price Hits $27.89 with $9.2 Billion Market Cap

Dec 30, 2024, 09:59 AM

Hyperliquid, a layer-1 blockchain known for its decentralized derivatives exchange, has launched native staking for its HYPE token on the mainnet. The Hyper Foundation, which supports the growth of the Hyperliquid ecosystem, announced that staking is now live, allowing HYPE holders to secure the network and earn rewards by delegating their tokens to validators. At launch, the Hyper Foundation staked 300 million HYPE tokens, valued at approximately $8.4 billion, across 16 validators. In the first hour, an additional 7 million tokens were staked by users. Locked tokens under a vesting schedule can also be staked, though the rewards accrued will remain locked. This development follows one month after the HYPE token was issued, which has since seen its price rise from $3.57 to $27.89, giving it a market capitalization of $9.2 billion and placing it among the top 20 largest tokens.