KNTQ Up 200% in a Month Is Just the Beginning? These Assets in the HYPE Ecosystem Are Quietly Exploding

$HYPE has almost become the only highlight in the recent crypto market. While $HYPE maintains its strength and continuously hits new all-time highs, this momentum has finally driven up the prices of assets related to the HyperEVM ecosystem.

Kinetiq ($KNTQ)

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

Users can stake $HYPE through Kinetiq to receive $kHYPE. $kHYPE represents the staked position while maintaining liquidity, usable across various DeFi projects on HyperEVM. Kinetiq also has the Kinetiq Earn vault, launched in partnership with Veda, where users can directly deposit $kHYPE or $HYPE to receive $vkHYPE. 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 and continuously monitors their performance, rebalancing staking flows accordingly. As validator rewards flow to all $kHYPE holders, the value of $kHYPE continuously grows.

$KNTQ is the governance token of Kinetiq. Staking $KNTQ yields $sKNTQ, with a 7-day unstaking cooldown period. Currently, the circulating staking rate of $KNTQ is 34.94%. All protocol revenue, after retaining a portion (30% of liquidity protocol revenue) for project operations, is used to buy back $KNTQ and distribute it to $KNTQ stakers. The total buyback amount is currently approximately $190,000.

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

NEST ($NEST)

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

Unlike passively distributing trading fees to liquidity providers or a treasury, MetaDEX redirects fees to token stakers, who vote on $NEST emissions and allocate these emissions to liquidity providers.

In other words, $NEST stakers decide which liquidity pools receive more or fewer incentives. $NEST stakers also receive 100% of the protocol's swap fee revenue, plus bribe revenue from various liquidity pools.

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

Approximately 40% of fee revenue flows to the "Hype Engine" and is distributed in the form of $MEGAHYPE. Users can deposit $veNEST into the Hype Engine, which uses the $HYPE for yield-generating purposes, allowing 1 $MEGAHYPE to accrue more $HYPE.

Currently, approximately 20 million $NEST are emitted weekly, but the staking rate for this token is remarkably high. The total staking rate is 63.68%, and the staking rate for the last emission cycle reached 86.6%. Over the past 7 days, $NEST has risen by approximately 62%, and over the past 30 days by about 739%, with a current circulating market cap of approximately $5.78 million.

Liquid Labs ($LIQD)

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

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

Purr ($PURR)

It is a meme coin announced when Hyperliquid proposed HIP-1 in late March last year, later airdropped to early Hyperliquid users. It can be considered the mascot of Hyperliquid.

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

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

alright buddy ($BUDDY)

The most influential native meme on Hyperliquid. It initially gained traction by receiving an airdrop from Hypio, gaining support from the Hypio NFT community. The phrase "alright buddy" has gradually become a common saying within the Hyperliquid ecosystem.

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