Polymarket users are seeing rsing odds that Hyperliquid will launch its HYPE token in December.
A fairly small poll with $43,000 has a 56% chance that the Hyperliquid airdrop will happen in December. Just 13% of the users expect it to happen at a later date. This is a notable prediction since Polymarket has proven to be highly accurate, as evidenced by its prediction of the US election.
Last month, the developers announced the formation of the Hyper Foundation, which will coordinate the airdrop. This airdrop will happen as the developers also launch the HyperEVM, which is a layer-2 network that will enable users to build applications in industries like NFTs and DeFi. dApps built on the chain will have access to HyperLiquid’s deep liquidity.
HyperLiquid’s airdrop will be a big deal because of its role in the crypto industry, where it has become the biggest player in perpetual futures trading. Perps are popular assets that allow users to open futures trades as long as they have enough collateral.
Data by DeFi Llama shows that its volume jumped by 20% on Wednesday to over $2.7 billion. It has handled volume of $18.2 billion in the past seven days and $405 billion since inception. It has over 217,000 users, a number that is growing during this crypto bull run.
This volume makes it a bigger platform that Jupiter, which handled $9.9 billion in the last seven days and $138 billion cumulatively.
Jupiter has a market cap of over $1.4 billion and a diluted valuation of $10.7 billion. As such, in theory, HyperLiquid could attract a bigger valuation than that.The risk, however, is that many airdrops have not worked well this year. Tokens of popular networks like Wormhole, ZkSync, EigenLayer, and Hamster Kombat have all plunged hard after their airdrops, costing investors millions of dollars in assets.
