Kimmy Pulse #9: Can You Stop Hyperliquid?

A weekly newsletter that keeps you ahead of the curve. Not financial advice.

Dec 16, 2024

Hyperliquid continues to soar over 60% without any sign of stopping. Memecoins like Hypurr Fun and Purr have increased by more than 400% and 80% on a weekly basis. This brings the FDV of Hyperliquid to $22 billion, easily making it a top 10 protocol.

Token Generation Event (TGE)

Venture Capital (VC) dominant tokens continue to suffer.

Magic Eden

Magic Eden is a leading multi-chain NFT marketplace that facilitates the buying, selling, and trading of non-fungible tokens across various blockchain networks. Currently, it is trading at a $498 million market cap, but the price action does not seem to please everyone. Do you think this is a disappointing move?

Movement

Movement has a rare trait during its TGE where it secured listings on all top exchanges, including Binance, Upbit, Bybit, and more. The listing was so hyped that it marked over a 200% premium on Korean exchanges, known as the kimchi premium.

Meanwhile, there are token with less VC participation with lower funding that went TGE this week.

KIP Protocol: 300% up with only $5 million in funding.
Bluefin: More than 300% up while securing only $30 million in funding.
Lingo: IEO of $0.20 with the highest price of $0.57, representing an increase of 185% increase, all without any prominent funding round.