UFD, HYPE, and USUAL’s Growth, PENGU’s Stable $1,800,000,000 Market Capitalization

On December 24, 2024, the BYDFi cryptocurrency exchange officially inaugurated new tokens, comprising PENGU, HYPE, UFD, and USUAL. These represent an assortment of Memecoins and DeFi tokens, enhancing the categories of assets available on the platform and providing global users with increased investment prospects.

UFD, or Unicorn Fart Dust, is a meme coin within the Solana ecosystem that has been expanding under the designation of a “social experiment. ” A 54-year-old trader of gold and silver was motivated to establish his own meme token, UFD, inspired by Fartcoin, which boasted a market capitalization of $500 million. The inception of UFD represents the innovative direction of the cryptocurrency market alongside the industry’s receptiveness to investors of various age demographics.

Based on GMGN data, as of December 19th, UFD’s market capitalization had already exceeded $230 million, with a 24-hour price surge reaching 434%, and a 24-hour trading volume amounting to $145. 4 million.

As per Onchain Lens, one address that acquired UFD early transformed $700 into $1. 8 million in under 7 hours. According to Lookonchain, a trader purchased 12. 98 million UFD tokens for 0. 4 SOL two days prior. Amid the price surge, the trader sold over 80,000 UFD tokens on two occasions, generating $4,500 while retaining 12. 9 million tokens in their account.

PENGU is the official token established by the Pudgy Penguins initiative, which features 8,888 distinctive cartoon penguin NFTs. Each NFT produces randomly assigned attributes through the incorporation of up to 150 hand-drawn elements. These penguins possess up to five unique characteristics, including special backgrounds, body shapes, attire, and accessories.

PENGU was launched on the Solana blockchain in December 2024 with a total of 88,888,888,888 tokens. The overall market capitalization has surpassed $1. 88 billion, and the 24-hour trading volume is $360 million, with 62. 86 billion tokens currently circulating. The project aims to drive Web3 innovation via the Abstract public blockchain and developer incubator, backed by the robust NFT community of Pudgy Penguins. Abstract recently secured $11 million, primarily from Peter Thiel’s Founders Fund, thereby providing significant support for the development of the PENGU ecosystem.

HYPE is the native token of the decentralized derivatives protocol Hyperliquid and serves as the primary 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 is dedicated exclusively to on-chain operations. The Hyperliquid platform is emerging as a leader in the DeFi sector, with a total asset value of $2. 173 billion, as reported by DefiLlama data.

The price of HYPE has escalated by 1345% since its launch, rising from $2 to $28. 91. The 24-hour trading volume for HYPE has now exceeded $15 billion, according to data from @HyperliquidX, marking a new benchmark.

USUAL is the native governance token of the Usual protocol. Its objective is to develop a secure and efficient stablecoin ecosystem backed by real-world assets, or RWA. Among its primary functions are:
Governance: Clarity in decentralized governance and community leadership is guaranteed by permitting holders to engage in significant protocol decisions such as revenue distribution and collateral oversight.
Yield: Users can gain advantages from the RWA investments of the protocol with returns on US Treasury bonds by staking USUAL.

Stablecoin Ecosystem: Supports the primary offerings of the protocol, which include USD0, a stablecoin backed by RWA, and USD0++, a variant of liquid staking, allowing holders to participate in revenue sharing through management or staking.

It also connects the issuance of USUAL tokens to the total value locked, where increases in TVL diminish the token supply, thereby forming a deflationary mechanism that can enhance long-term value. As of December 18, USD0 minting reached an unprecedented 190 million units, with total supply escalating beyond 1 billion units, yielding a net of 136 million units. It can be concluded that the substantial capital attraction of the Usual protocol is demonstrated by attaining Treasury revenue of $5. 89 million. The growth of USD0 and USD0++ will improve TVL by increasing USUAL’s rarity and value augmentation. At the time of writing, the token’s price stands at $1. 39, reflecting a 34. 2% rise from the prior day. With a trading volume of $838,695,117, it surpasses previous levels.

Concurrently, BYDFi has introduced additional tokens, including FUEL, VANA, SEND, and ARCSOL. Users may visit the official BYDFi website or the BYDFi app to remain informed on the latest market developments and comprehensive details regarding these tokens.