New HYPE Token Overtakes Dogecoin Memcoin in FDV
The HYPE token, owned by the decentralized exchange Hyperliquid, has reached an all-time high and has surpassed even the popular memecoin Dogecoin in terms of fully diluted valuation (FDV).

At the moment, HYPE's capitalization exceeds $12 billion, while the token is not traded on large centralized crypto exchanges, remaining within its own ecosystem. Hyperliquid operates as a decentralized exchange built on its own blockchain. The platform offers users the ability to trade with leverage up to 100x, and also provides high liquidity, which distinguishes it from other DEXs.
According to analysts, 75% of the trading volume of perpetual futures in the decentralized segment is accounted for by Hyperliquid, which makes it a key player in the DeFi market. One of the most notable events was the HYPE airdrop in November 2024, which became the largest in the history of the crypto market in terms of the number of recipients and distribution of tokens. This allowed the asset to quickly gain popularity, despite the lack of support from the CEX.
The platform's creators position HYPE as a management and reward tool for users participating in the development of the ecosystem. Experts note that the success of Hyperliquid demonstrates the growing interest in independent blockchain projects that can compete with centralized platforms in terms of speed, fees, and market depth.
Let us recall that from 2027, new anti-money laundering regulations will come into force in the EU countries, which will eliminate the possibility of using anonymous crypto wallets and private coins such as Monero and Zcash.