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HyperLiquid has made a significant announcement by launching native staking for its HYPE token holders. This groundbreaking move allows token holders to delegate their tokens to 16 validators and earn rewards while securing the network.
As of the launch, over 300 million HYPE tokens were staked, valued at $8.4 billion. This impressive feat underscores the immense popularity and trust in HyperLiquid’s ecosystem. The native staking feature empowers the diverse community of HYPE token holders to collectively secure the network, as stated by HyperLiquid Foundation on X.
In addition to this announcement, it is essential for users to consider various metrics when choosing validators. These factors include uptime, commission rates, reputation, and community contributions. This emphasis on transparency highlights HyperLiquid’s commitment to fostering a decentralized and trustworthy environment.
The HYPE token has witnessed remarkable growth since its debut on November 29 at $3.50, with an astonishing surge of over 890% that took it to an all-time high of $34.96. Although the token is currently trading at $26.90, representing a dip of approximately 2.5% in the last 24 hours, its market capitalization has reached a staggering $9 billion.
This valuation has propelled HYPE into the top 20 largest tokens by market cap, surpassing Uniswap, Litecoin, and PEPE.
Source: cryptobriefing.com
