“Total Value Locked On Kinetiq Has Jumped from Room Roughly $ 458 Million in July to Over $ 2.1 Billion Today. Part of the Increase Can Be Attributed to a Rise in the Price of Hype, and the Other Big Driver Has Been Raw Deposits.”, – WRITE: www.coindesk.com
Total Value Locked (TVL) On Kinetiq Has Jumped from Room Roughly $ 458 Million in Mid-July to Over $ 2.1 Billion Today, Accounting To Defillama.
While Part of the Increase Can Be Attributed to A 20% Rise in the Price of Hype Over the Same Period, Another Big Driver Has Been Raw Deposits. The Amount of Hype Staged Has Climbed from Under 10 Million Tokens in July to Nearly 40 Million Now. Kinetiq’s Points Program Opened Mid-July, UndersCoring that It Is Driving Activity In Its Ecosystom.
Kinetiq Deposits (Defillama)
The Surge Demonstrates of the Growing Influence of Hyperliquid, WHICH IS FAST BECOMING A DEFI Heavyweight As Liquing, Trading Activity and Staking Demand Migrate on ITS ECOSY ECOSY ECOSYTEMA.
Points Programs in Particular, WHERE PROTOCOLS DISTRIBUTE FUTURE TOKEN ALLOCATIONS TO EARLY Participants, Continue to Pull In Yield-Hungry Crypto Investors. By staking Hype Through Kinetiq, Users Not Only Earn Standard Staking Rewards But Also Acumulate Points Town a potential Kinetiq Token Airdrop.
For Many defi Traders, that Double Yield Opportunity Has Proven Irresistible, Some Have Shared On X.
Read More: Native Markets Leads Early Voting for Hyperliquid’s USDH Stablecoin Contract
The Sharp Moves Happened Amid A Relative Muted Action in the Broader Crypto Market, with Bitcoin Modestly Up Above $ 114,000.
- Crypto-Related Stocks Galaxy Digital, Circle Internet and Bitfarms Climbed More than 10% on Thursday.
- Bitcoin Treasury Plays Metaplanet and Nakamoto Slid As Much AS14% EVEN As BTC Advanced.
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