November 30, 2024

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12:00 am

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(Updated:

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Hyperliquid User Receives $4 Million Airdrop

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    2TheMoon on Arkham
    2TheMoon on Arkham

    Hyperliquid power user, 2TheMoon, received 508,985.86 HYPE tokens in an airdrop from the perpetual DEX and L1, Hyperliquid, for the 95,124 points he amassed on the platform. At the current price of $8.39, his airdrop is worth $4.3M.

    2TheMoon’s current holdings on Hyperliquid
    2TheMoon’s current holdings on Hyperliquid

    2TheMoon was infamous for his levered long BTC positions which he took on during the market drawdown this year. In his aggressive positioning, he was liquidated several times in the downturn, with a huge $15M liquidation in early October. Nevertheless, he has not sold any of his HYPE tokens to recoup any of his losses, even making a limit order at $800 per token for his entire position as a joke.

    Hyperliquid’s airdrop has officially become the largest airdrop ever, releasing $1.8B in fully unlocked value to early users of the platform. The airdrop represents 31% of the total token supply, an unusually high amount for an airdrop, due to the self-funded nature of the team.

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