It is no secret that HYPE has become the biggest airdrop ever in crypto-history, at least when it comes to paper value.
Hyperliquid’s new coin may soon be the highest-valued token ever airdropped.
The team behind the popular perps-DEX-slash-layer-1 initially designated 310 million tokens for the airdrop, with more than 94,000 addresses eligible.
According to this ASXN dashboard, a total of 87% has already been claimed.
At the current price, the HYPE that was sent would be worth almost $7.6 Billion.
It’s officially the biggest crypto airdrop ever.
The paper value for UNI at its peak, in May 2021 was $6.4 billion. This is more than a trillion less than HYPE.
UNI’s airdrop had a larger scope. Tokens initially were sent to more that a quarter-million addresses which had used DEX at some time.
Nearly 94% of these addresses received less than 412 tokens. This was just a little bit above the 400 UNI minimum allocation (currently worth $6,500).
According to a Dune analysis, more than 250 addresses — liquidity whales, $SOCKS holders and power users — had meanwhile received an eye-twitching 250,000 UNI ($4 million at current prices).
After two years, 90% of the recipients have disposed all their tokens. Only 2% of recipients were holding tokens at that time, and only 1% increased their positions.
The HYPE token event is still less than 3 weeks old, and it’s not yet clear if the airdrop will have a more sticky effect.
The HYPE, on the other hand, has only increased since then, going from $3.81 up to $28 today.
That gives HYPE a market cap of $9 billion — only 9% short of UNI — and a fully diluted value of $27 billion.
Unlike UNI’s airdrops, nearly 12% received between 5,000-10,000 tokens. They are worth now $140,000 or $280,000 respectively.
5.7% were placed in the bottom tranche which is up to 100 HYPE (approximately $2,800) while only 4.3% received the highest bracket of 10,000 tokens.
Some airdrops appear to be sold, even though Hyperliquid TVL has surpassed $3.2 billion.
ASXN reported that earlier today 182 out of 500 top addresses for the airdrop had no tokens. These addresses ranged from 1.95m ($44.6m) to just under 100,000 ($2.8m).
It’s not clear if they have sold their tokens or merely moved them to another exchange.
In the meantime, 58 out of 500 people (around 11% in total) have added more to their portfolios since the Airdrop.
Something tells me many more — especially those who didn’t receive the airdrop — are now waiting for a dip.
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