Is Hyperliquid The Last Hope For Airdrop Hunters?

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Introduction

Crypto airdrops have become a lucrative source of wealth for a select few within the cryptocurrency industry – that’s the key phrase to remember here – the select few. While there are all sorts of disingenuous promises of getting rich quickly online, crypto airdrops are a small glimmer of hope for those who have been in cryptocurrency over the last two years.

There are still some projects out there that have the potential to yield a decent return for those who put their conviction and time into using their service. Throughout the last 18 months, ever since Arbitrum’s $120 million back in March 2023, there’s been a growing demand on social media and beyond for crypto companies to supplement their launch with community airdrops. 

Ultimately, the incentive is to reward those who have interacted positively with the project since its inception. While Uniswap and DYDX have performed airdrops much earlier, Arbitrum seems to have been the one that got people sitting up and taking notice.

Digital Marketing Strategies

The concept of being rewarded with “free” items or credit isn’t an idea that the cryptocurrency community has suddenly developed. Marketing companies have been leveraging the internet since its formative years. As it became a tool for a wider mass audience, it became quickly apparent that the flourishing digital world would be the main foundation of our 21st-century world and the new battleground for marketing.

Even when so many people were still reluctant to explore their potential, industries that identified the power of the internet ended up in a prime position. For example, digital casino gaming was one sector that was able to grab this opportunity with both hands. 

While crypto casino gaming is the latest arc in this growing timeline of casino gaming innovations, those innovators who initially championed the quality and potential of the online casino sector in the early 1990s were onto something big. 

Online casinos then utilized their position to change how industries marketed themselves, implementing ideas from social media branding to free spins and promotions to attract new customers. While airdrops have a little bit more to them than that, the general thesis of marketing remains the same: attract people to your platform and offer them value.

The Last Bastion Of Hope?

For airdrop farmers, there have been many projects that have underdelivered and overpromised. Many airdrops have only ignited if you have the fortune of immense capital, a keen eye for cryptocurrency, or were early enough to register and accumulate a mountain of activity to generate a considerable number of points before anyone else. The latter is a category in which a few early Hyperliquid users find themselves.

Hyperliquid is a product that users have touted over the last 18 months. While marketing as a decentralized exchange, a team, and a figurehead oversee the daily on-chain activity. Those who have accumulated significant points through their trading activity are rather conveniently bullish on the product’s potential, comparing it to industry titans like Binance, which currently handles the highest volume in crypto. Incredibly optimistic and ludicrous pockets of X aim for around $800 per point price predictions. 

Currently, the pre-market ranges between $5 and $7, with some putting it as high as $10, which seems to be a more realistic ceiling for any potential token, at least within the first few days of any potential launch. 

Will Hyperliquid Even Airdrop?

As with many projects that have airdropped throughout the last 12 months, Hyperliquid hasn’t explicitly stated they will be tokenizing. While they have alluded to it, there’s nothing to say that it won’t be next month, or it could be in the middle of 2025. Nobody knows except those who work for the company. 

The chances of them not airdropping are relatively slim, given that their first two point campaigns have generated 51 million points for those who have interacted with their product, and the company’s CEO, Jeff Yan, has alluded to a token on podcasts and interviews.

As interest continues to grow in the cryptocurrency world and institutional investors, who had previously remained on the sidelines, launch a raft of products to give themselves exposure to the broader market, there’s a growing demand for users to have access to products and decentralized exchanges that allow them quicker and more convenient access to the market. A token is in the interest of users and is necessary for the growth of the product.

Final Say

Hyperliquid is a product that appeals to more astute and professional traders. Those with the most points have a keen eye for the market and can generate 8-figure volumes with their perps trading, a category that only 0.01% of crypto traders fall into. 

However, some airdrop hunters who may have used the platform in the more formative stages, especially during the frosty, bearish action we witnessed throughout most of 2023, despite occasional snippets of positive price action, could be in for a decent return. 

If the token launches in favorable market conditions, traders with over 1,000 points will likely be in for a weighty airdrop. With a higher percentage of points to token conversion, anywhere between $5 and $10 promises to be sizeable.

Is it the last hope? No, there’ll always be projects for people to farm and invest in early, but with a growing saturation in the crypto market, it just means that these products will be more difficult to find, and users need to know what they’re looking for.