KNTQ, which surged 200% in a month, is just the beginning? These tokens in the HYPE ecosystem are quietly exploding

$HYPE has become almost the only bright spot in the crypto market recently. While $HYPE remains strong and continuously hits new all-time highs, this strength has finally driven the rise of assets related to the HyperEVM ecosystem.

Kinetiq ($KNTQ)

Kinetiq is a liquid staking protocol on Hyperliquid. It is the project with the highest 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, allowing it to be used across various DeFi projects on HyperEVM. Kinetiq also has a Kinetiq Earn Vault launched in collaboration 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. It continuously monitors validator performance and rebalances staking flows accordingly. As staking rewards flow to all $kHYPE holders, the value of $kHYPE increases 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 of $KNTQ is 34.94%. Apart from retaining a portion (30% of liquidity protocol revenue) for project operations, all other protocol revenues are used to buy back $KNTQ and distribute them to $KNTQ stakers. The total buyback amount to date is approximately $190,000.

Basically, the stronger and more sustained $HYPE's performance is, the higher Kinetiq's protocol revenue (denominated in $HYPE) will be, leading to more buybacks. This is why some players refer to $KNTQ as "Little HYPE." Over the past 7 days, $KNTQ has risen approximately 48%, and over the past 30 days, it has risen approximately 72%. Its current circulating market cap is about $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. These stakers vote on $NEST emissions, allocating the emissions to liquidity providers.

This means $NEST stakers decide which liquidity pools receive more or fewer incentives. $NEST stakers also receive 100% of the protocol's swap fee revenue, as well as 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 the fee revenue flows to the "Hype Engine," distributed in the form of $MEGAHYPE. Users can deposit $veNEST into the Hype Engine, which manages $HYPE to generate yield, allowing 1 $MEGAHYPE to represent more $HYPE.

Currently, approximately 20 million $NEST are emitted weekly, but the token's staking rate is remarkably high. The total staking rate is 63.68%, and it reached 86.6% in the last emission cycle. Over the past 7 days, $NEST has risen approximately 62%, and over the past 30 days, it has risen approximately 739%. Its current circulating market cap is about $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 60% in the past 7 days and approximately 193% in the past 30 days. Its current market cap is about $3.35 million.

The project is currently promoting their Liquid Core, an AMM that uses Hyperliquid's native oracle to price every swap directly, without relying on a price curve. This offers better liquidity, predictable execution, and extremely low slippage. Additionally, they have a Liquid Launch, akin to a pump.fun on HyperEVM.

Purr ($PURR)

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

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

Undoubtedly, the largest meme coin on HyperEVM is $PURR. It is also the first meme coin to be listed for spot trading on Hyperliquid. $PURR has risen 31% in the past 7 days and approximately 93% in the past 30 days. Its current market cap is about $75.25 million.

alright buddy ($BUDDY)

The most influential native meme on Hyperliquid. It initially gained traction by airdropping to Hypio, thereby 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 20% in the past 7 days and approximately 103% in the past 30 days. Its current market cap is about $1.75 million.