Key Points:
Hyperliquid’s $HYPE token surges after historic airdrop
Uniswap achieves record trading volume on Ethereum L2 network
Tornado Cash Sanctions Overturned: A Big Legal Victory for Crypto
DeFi protocol Hyperliquid conducted one of the largest token airdrops in history on November 29, distributing 310 million $HYPE tokens worth $1.2 billion at launch. The token surged 63% in hours to $6.16, with a market cap of nearly $2 billion. Built on a layer 1 proof-of-stake blockchain, HYPE serves as a staking and gas token for the HyperEVM. Notably, 31% of the supply was distributed in the genesis event, with additional allocations for rewards and financial purposes. The event solidified Hyperliquid's place alongside Uniswap and Arbitrum's iconic airdrops.
In November, Uniswap set a new record for monthly Ethereum Layer 2 volume at $38 billion. The milestone surpassed the previous record by $4 billion, driven by increased DeFi activity. Arbitrum led with $19.5 billion, followed by Base with $13 billion. Henrik Andersson of Apollo Crypto pointed to growing demand for assets and stablecoins as a sign that the Ethereum ecosystem may be entering a period of outperformance. Uniswap's UNI token surged 42% this week, outperforming other decentralized exchange tokens and reflecting renewed interest in DeFi.
The U.S. Federal Court of Appeals ruled that the Treasury Department exceeded its authority in approving the cryptocurrency mixing service Tornado Cash, overturning an earlier district court ruling. The court held that Tornado Cash's smart contracts were not "property" and could not be sanctioned under the International Emergency Economic Powers Act. The ruling triggered a 500% surge in the price of TORN tokens, highlighting the renewed interest in the privacy-focused protocol. The decision highlights the ongoing tension between privacy technology and regulatory frameworks in the cryptocurrency space.
news
Hyperliquid’s HYPE token surges 60% after $1 billion airdrop
I watched Justin Sun eat the most expensive banana in the world. I didn't understand.
Solana DeFi Exchange Jupiter to Revise Airdrop Plan After Voters Reject $1.6 Billion Rewards
MARA purchased $615 million worth of Bitcoin, bringing total holdings to 34,794 BTC
product
Uniswap ’s L2 monthly trading volume hits record high as DeFi demand returns
Rumble Announces Bitcoin Treasury Strategy
Pump.fun's weekly revenue drops 66% after livestream controversy
'Hawk Tuah' girl announces her first 'meme coin'
Regulation
US Appeals Court Overturns Tornado Cash Sanctions; TORN Soars Over 500%
MiCA forces USDC yields to drop, frustrating European Coinbase users
Ripple ’s stablecoin RLUSD is expected to be launched on December 4 with NYDFS approval
Russia Approves Crypto Tax Law Recognizing Bitcoin and Cryptocurrencies as Property
funds
Hong Kong proposes tax cuts to attract crypto hedge funds, investors
Cryptocurrency Venture Capital: World Liberty Financial Raises $30 Million, Partior Rescue Gets $20 Million
Deutsche Bank invests in Partior 's $80 million Series B round
Bleap secures $2.3M in funding, acquires team as Revolut expands crypto business
