CandleFocus

Hyperliquid (HYPE) was the highest FDV project to launch in 2024

Hyperliquid (HYPE) was the highest FDV project to launch in 2024
In 2024, Hyperliquid (HYPE) became the biggest project launch with a fully diluted value of $27.2B. The HYPE token saw rapid appreciation after the airdrop, and the perpetual futures DEX increased its listings and volumes. Despite skepticism about its sustainability, the airdrop achieved a high valuation and the token remained stable. Hyperliquid kept $6.44B in locked value to avoid pressure on the token price. Ethena (ENA) and Ondo Finance were the second and third-largest projects, with FDVs of $14.3B and $13.4B respectively. Ethena's tokens will start unlocking in April 2025, while Ondo Finance will have a significant unlock event in January 2024. These projects depended on the ongoing bull market for growth.

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