KNTQ's 200% Monthly Surge Is Just the Beginning? These Assets in the HYPE Ecosystem Are Quietly Exploding

$HYPE has practically become the only highlight in the crypto space recently. While $HYPE remains strong and continues to hit new all-time highs, this strength has finally begun to drive up the prices of assets related to the HyperEVM ecosystem.

Kinetiq ($KNTQ)

Kinetiq is a liquid staking protocol on Hyperliquid, ranking as the top project by TVL on HyperEVM and currently the only one with a TVL exceeding $1 billion.

Users can stake $HYPE through Kinetiq to receive $kHYPE. $kHYPE represents the staked position while maintaining liquidity, and can be used across various DeFi projects on HyperEVM. Kinetiq also offers the Kinetiq Earn vault, developed in collaboration with Veda. Users can directly deposit $kHYPE or $HYPE into this vault to receive $vkHYPE, while the vault automatically executes DeFi strategies, allocating funds to various yield protocols and distributing the returns to vault users.

Kinetiq's StakeHub system automatically delegates users' staked $HYPE to the best-performing validators, continuously monitors their performance, and rebalances the staking flow. As validation rewards flow to all $kHYPE holders, the value of $kHYPE grows over time.

$KNTQ is the governance token of Kinetiq. Staking $KNTQ yields $sKNTQ, with a 7-day withdrawal cooldown period after staking. Currently, the circulating staking rate for $KNTQ is 34.94%. All protocol revenues, after retaining a portion (30% of liquidity protocol income) for operation expenses, are used to buy back $KNTQ and distribute it to $KNTQ stakers. The total amount of buybacks currently stands at approximately $190,000.

Essentially, the stronger and more sustained $HYPE's performance, the higher Kinetiq's protocol revenue (denominated in $HYPE) becomes, leading to more buybacks. This is why some players refer to $KNTQ as "Little HYPE." Over the past 7 days, $KNTQ has risen by approximately 48%, and over the past 30 days by about 72%, with its current circulating market cap at roughly $80.66 million.

NEST ($NEST)

NEST is a DEX on HyperEVM based on a vote-escrowed governance model, which they call a "MetaDEX."

Unlike protocols that passively distribute trading fees to liquidity providers or the treasury, MetaDEX redirects fees to token stakers. These stakers vote to determine $NEST emissions, which are then allocated to liquidity providers.

In other words, which liquidity pools receive more or less incentives is decided by $NEST stakers. $NEST stakers also receive 100% of the protocol's swap fee revenue, along with bribe income from various liquidity pools.

The longer the staking period, the greater the voting power and the higher the revenue share.

Approximately 40% of the fee revenue flows into the "Hype Engine" and is distributed in the form of $MEGAHYPE. Users can deposit $veNEST into the Hype Engine, which then utilizes $HYPE for yield generation, allowing 1 $MEGAHYPE to receive more $HYPE.

Currently, approximately 20 million $NEST tokens are emitted weekly. However, the staking rate for this token is remarkably high. The total staking rate reaches 63.68%, and during the previous emission cycle, it hit 86.6%. Over the past 7 days, $NEST has surged by approximately 62%, and over the past 30 days by about 739%, with its current circulating market cap at roughly $5.78 million.

Liquid Labs ($LIQD)

This is a swap aggregator on HyperEVM, backed by a small team of 4 individuals. Based on revenue data, the project's income over the past 30 days is only about $46,000. However, the token $LIQD has risen 60% in the past 7 days and approximately 193% in the past 30 days, with a current market cap of roughly $3.35 million.

The project is currently promoting its Liquid Core, an AMM that uses Hyperliquid's native oracle for pricing each swap instead of a price curve, offering better liquidity, predictable execution, and extremely low slippage. Additionally, they have a Liquid Launch, functioning like pump.fun on HyperEVM.

Purr ($PURR)

This is a meme coin announced when Hyperliquid introduced the HIP-1 proposal in late March last year. It was later airdropped to early Hyperliquid users and can be considered Hyperliquid's mascot.

Furthermore, the stock ticker for the Nasdaq-listed $HYPE treasury company, Hyperliquid Strategies, Inc., is also PURR. The most expensive official NFT on Hyperliquid, Hypurr, also contains the letters PURR.

Undoubtedly, $PURR is the largest meme coin on HyperEVM and was the first meme coin to be listed on Hyperliquid's spot market. $PURR has risen 31% in the past 7 days and approximately 93% in the past 30 days, with a current market cap of roughly $75.25 million.

alright buddy ($BUDDY)

The most influential native meme on Hyperliquid. It initially gained traction by being airdropped to Hypio, thereby gaining support from the Hypio NFT community. The phrase "alright buddy" has also become a common saying within the Hyperliquid ecosystem.

The token $BUDDY has risen 20% in the past 7 days and approximately 103% in the past 30 days, with a current market cap of roughly $1.75 million.