HyperLiquid's native staking for its HYPE token is attracting significant attention. The launch saw 300 million tokens staked at the outset, with users adding another 7 million in the first hour. HYPE's market cap has surged to $9.2 billion, placing it among the top 20 cryptocurrencies.
Locked tokens can be staked, but accrued rewards remain locked. HYPE has pushed itself into the top 20 tokens with a $9.2 billion market cap, overtaking the likes of bitcoin cash, litecoin and pepe. Layer-1 blockchain Hype rLiquid, known for its decentralized derivatives exchange, opened up native staking for holders of its HYPE token. Stakers can select which validator to stake tokens with and will accrue rewards in return for securing the network.
At launch, HyperLiquid staked 300 million tokens ($8.4 billion), and another 7 million tokens were added by users in the first hour. The tokens are staked across 16 validators.Introduction of staking comes one month after the HYPE token was issued. It debuted at $3.57 and has since risen to $27.89, HYPE now has a market cap of $9.2 billion, pushing it into the top 20 largest tokens after overtaking bitcoin cash (BCH), pepe (PEPE) and litecoin (LTC)
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