Is there really someone with 3000 to A8? How does the Wealth Effect of Hyperliquid come into play?

2025-05-28 15:16

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Yesterday, there was a circulating "short essay" in the community about a price surge in the Hyperliquid ecosystem from 3000U to A8. While the authenticity of the content is still questionable, one thing is indeed correct: the Hyperliquid ecosystem has once again demonstrated the wealth effect.

The $JELLYJELLY incident has passed for 2 months. During this time, not only did Hyperliquid's native token $HYPE hit an all-time high, but it also gained widespread attention due to James Wynn. Besides $HYPE and James Wynn, another aspect of Hyperliquid has been quietly developing, which is Hyperliquid's L1 HyperEVM.

Earlier this year, when HyperEVM was just launched, we introduced some native assets on it to everyone (related reading: "Niche Players Rejoice, Hyperliquid NFT Surprisingly Rises?"), such as Hyperliquid's flagship NFT Hypio, which surged from around $2250 at the time of our introduction to over $10,000. Another example is $BUDDY, which saw a nearly 3x surge last week. Considering that 38.888% of Hyperliquid's tokenomics is allocated for future emissions and community rewards, participating in HyperEVM during its buzz allows for not only profit gains through trading but also potential future $HYPE airdrops. Additionally, interacting with applications in the ecosystem might lead to unexpected airdrops.

Let's take a look at the opportunities in each asset sector of HyperEVM and how to participate.

How to Acquire $HYPE on HyperEVM

There are now cross-chain bridges supporting the direct exchange of assets from chains like ETH and Solana to $HYPE on HyperEVM, such as @deBridgeFinance, @SynapseProtocol, @HyBridgeHL, etc. If you prefer not to use a cross-chain bridge, you can also deposit funds into Hyperliquid to purchase spot $HYPE and then transfer it to HyperEVM.

The original process was quite cumbersome, first requiring you to bridge your USDC to the Arbitrum network:

After the deposit is confirmed, you would purchase $HYPE in the HYPE/USDC trading pair:

Upon successful purchase, you would return to the Portfolio page, click on Transfer to EVM in the position to move your $HYPE to HyperEVM.

Now you can also directly deposit Bitcoin, ETH, and SOL into Hyperliquid. However, the backend of this deposit service actually calls the @hyperunit interface.

Coins on HyperEVM

On HyperEVM, the two largest DEXs are @HyperSwapX and @KittenswapHype, both of which have a point system related to airdrops. Their official websites also have detailed point task pages.

$PURR

The only meme coin on HyperEVM with a market capitalization exceeding one billion dollars, currently approaching 200 million dollars. This was the first meme coin listed on Hyperliquid for spot trading, and the Hyperliquid official Hyper Assistance Fund previously purchased about 0.5% of $PURR at the beginning of this year and has held it ever since.

The background of this coin is quite unique. It was deployed as a meme coin when Hyperliquid announced the HIP-1 proposal at the end of March last year. It was later airdropped to early Hyperliquid users and can be considered the mascot of Hyperliquid.

$BUDDY

The most influential native meme on Hyperliquid, currently valued at around $33 million. It initially gained attention for being airdropped to Hypio and receiving support from Hypio, the largest NFT community on Hyperliquid. "alright buddy" has gradually become a phrase commonly heard in the Hyperliquid ecosystem.

$HFUN

The most influential Telegram trading bot on Hyperliquid, which also functions as a Launchpad. Currently valued at around $70 million.

$LIQD

A coin from Liquid Launch, specializing in Launchpad and DEX aggregation, currently valued at around $35 million.

$PIP

This is a coin from the NFT series PiP & Friends. The current floor price of this series is close to $300. As mentioned in the earlier Hyperliquid NFT article, this series has been active in the Hyperliquid ecosystem for quite some time.

Currently valued at around $18 million. The project takes all NFT minting sales revenue to buy back and burn 9% of the total token supply and has announced continued buybacks in the future, which may be why it has garnered attention.

$JEFF

A coin named in honor of Hyperliquid Founder @chameleon_jeff, currently valued at around $13 million.

$JPEG

The platform coin of the Hyperliquid NFT marketplace Drip.Trade, currently valued at around $10 million. This coin initially had only 10% distributed in an airdrop, and trading on it now earns points. According to the tokenomics, an additional 40% of the tokens will be allocated to future community rewards.

Hyperliquid DeFi

HyperLend

Hyperliquid's ecosystem's largest lending platform, also supporting yield farming through collateralized lending, with a current TVL of around $300 million.

The official website has a point system related to airdrops.