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BYDFi Market Overview: UFD,HYPE and USUAL's Growth, PENGU's Stable US$1,800,000,000 Market Cap - Chainwire

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24Dec

BYDFi Market Overview: UFD,HYPE and USUAL’s Growth, PENGU’s Stable US$1,800,000,000 Market Cap

Mahe, Seychelles, December 24th, 2024, Chainwire

On December 24, 2024, the BYDFi crypto exchange officially launched new tokens, including PENGU, HYPE, UFD, and USUAL. These are different Memecoins and DeFi tokens, enriching the categories of assets on the platform and giving global users more investment opportunities.

UFD’s Surge, PENGU on Hot List with $1.8B Market Cap

UFD, or Unicorn Fart Dust, is a meme coin in the Solana ecosystem that has been growing with the tag of a “social experiment.” A 54-year-old gold and silver trader was inspired to create his own meme token, UFD, based on Fartcoin, which had a market cap of $500 million. The creation of UFD symbolizes the innovative trend of the cryptocurrency market as well as the openness of the industry towards investors cutting across all age groups.

From GMGN data, on December 19th, UFD market cap has already passed $230 million , the 24-hour price increase was at 434%, and a 24-hour trading volume of $145.4 million.

According to Onchain Lens, one address that bought UFD early on changed $700 into $1.8 million in less than 7 hours. According to Lookonchain, a trader bought 12.98 million UFD tokens for 0.4 SOL two days ago. During the price spike, the trader sold over 80,000 UFD tokens twice, netting $4,500 while holding 12.9 million tokens in their account.

PENGU is the official token created by the Pudgy Penguins project, which contains 8,888 unique cartoon penguin NFTs. Each NFT generates randomly assigned qualities through the use of up to 150 hand-drawn components. These penguins have up to five different features, such as distinctive backgrounds, body shapes, clothes, and accessories.

PENGU is launched on the Solana blockchain in December 2024 with a total of 88,888,888,888 tokens. The overall market cap has crossed $1.88 billion, and the 24-hour trading volume is $360 million, with 62.86 billion tokens in circulation. The project intends to propel Web3 innovation through the Abstract public blockchain and developer incubator, and it has the support of the robust NFT community of Pudgy Penguins. Abstract recently raised $11 million, majorly coming from Peter Thiel’s Founders Fund, and hence offers a lot of support towards developing the PENGU ecosystem.

On-Chain Speed and Stable Ecosystem: Dual Innovations of HYPE and USUAL

HYPE is the native token of the decentralized derivatives protocol Hyperliquid and is the core asset of the high-performance L1 platform. With a latency of less than one second and complete transparency in its order book, trading, and settlement, Hyperliquid focuses on totally on-chain operations. The Hyperliquid platform is a rising leader in the DeFi industry, with a total asset value of $2.173 billion, according to DefiLlama data.

HYPE’s price has increased in 1345% since it was launched from $2 to $28.91. The 24-hour trade volume for HYPE has now surpassed $15 billion, according to data by @HyperliquidX, which marks a new record.

USUAL is the native governance token of the Usual protocol. It aims to create a secure and efficient stablecoin ecosystem backed by real-world assets, or RWA. Among its core functions are:

  1. Governance: Transparency in decentralized governance and community leadership is ensured by allowing holders to take part in crucial protocol decisions like earnings distribution and collateral management.
  2. Yield: The users can benefit from the RWA investments of the protocol with yields on US Treasury bonds by staking USUAL.
  3. Stablecoin Ecosystem: supports the main products of the protocol, being USD0, a stablecoin, which RWA supports and USD0++, a variant of liquid staking, and holders can share revenue via management or staking.

It also ties the issuance of USUAL tokens to total value locked, where increases in TVL reduce the token supply, thus constituting a deflationary mechanism that can boost long-term value. As of December 18, USD0 minting was seen reaching a record-breaking 190 million units with the total supply rising beyond 1 billion units netting 136 million units. It can be established that the high level of capital attraction of the Usual procedure is by reaching the Treasury revenue of $5.89 million. The increase of USD0 and USD0++ will enhance TVL by raising USUAL’s scarcity and value appreciation. At the moment of writing, the token’s price is $1.39, up 34.2% over the previous day. At $838,695,117, the trade volume is more than it has been in the past.

Meanwhile, BYDFi has simultaneously launched additional tokens, including FUEL, VANA, SEND, and ARCSOL. Users can visit the BYDFi official website or the BYDFi app to stay updated on the latest market trends and detailed information about these tokens.

About BYDFi

Founded in 2020, BYDFi is considered among the top 10 best crypto exchanges around the world according to Forbes, and trusted by millions of users all over the world. It currently supports more than 600 tokens for spot trading, with options for leverage from 1x to 200x to suit every investment strategy. Besides, BYDFi has also simplified the procedure of buying cryptocurrencies by working with world-class payment service providers like Banxa, Transak,and Mercuryo, enabling its users to purchase coins at a low cost.

In the future, the upcoming “BYDFi Copy Trading” feature will automatically suggest the top traders according to the user’s risk tolerance and account assets. Users can easily activate the copy trading mode using only a tap and replicate professional traders’ strategies. BYDFi aims to provide a world-class crypto trading experience for its users.

Contact BYDFi

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