KuCoin announced on December 7th that the platform is planning to list deposits for HYPE token. This move makes the platform first centralized exchange to list HYPE.
According to the official announcement of the platform, the spot trading pair for the token will be listed on December 8th, with investors being able to make transactions from the same day.
The news has given the coin a rise in value, making it trade over 14% as compared to same time last day.
The listing comes after HYPE token, native to Hyperliqiud, has gained traction since its launch and has garnered enough investor attention.
What is Hyperliquid?
Hyperliquid is designed to facilitate a completely on-chain open financial system, allowing user-built apps to be seamlessly integrated with native, high-performing components while maintaining a seamless user experience.
Hyperliquid raises the bar for on-chain transactions with its strong ability to process 100,000 orders per second and block latency that is less than one second.
Every order, cancellation, trade, and liquidation occurs transparently on-chain with block latency of less than one second, demonstrating the Hyperliquid L1’s performance in running a whole ecosystem of permissionless financial applications. 100k orders per second are currently supported by the chain.
Hotstuff and its successors served as major inspiration for the Hyperliquid L1’s unique consensus algorithm, HyperBFT. To support the L1, the networking stack and algorithm are both completely redesigned.
$HYPE Token: What To Expect In Future?
HYPE token has garnered a lot of attention ever since it has been launched. Considering the coin’s technical indicators, the Fear & Greed Index is currently at 75 (Greed), and the sentiment is bullish.
During the previous days, Hyperliquid saw 7/11 (64%) green days with price volatility. Data also indicates that the overall sentiment for hyperliquid price prediction is bullish, with five technical analysis indicators indicating bullish signals and zero indicating bearish signals.
Why Is HYPE Token Gaining Popularity?
Since launching on November 29, 2024, Hyperliquid’s HYPE token has experienced a huge increase of more than 200%. The token has increased its market value to $4 billion and its fully diluted valuation to over $12 billion. Strong demand, as evidenced by trading volume exceeding $279 million over the last day, is driving the value increase.
The rise in popularity of decentralized platforms coincides with HYPE’s success. In terms of trading volume and total value locked within the DeFi, Hyperliquid, the decentralized perpetual trading platform that powers the token, has rapidly emerged as a leader.
With its launch in 2023, the platform signaled a change in the decentralized finance scene, and Hyperliquid is now becoming known for its cutting-edge features and decentralized methodology.