Data: KNTQ token valuation reaches $170 million, protocol TVL has fallen 60%.
AI Summary1 min read
TL;DR
Kinetiq's KNTQ token launched with a $170M valuation at $0.17 per token, but its TVL dropped 60% to $1.1B, possibly due to airdrop liquidations before issuance.
Tags
KinetiqKNTQTVLtoken valuationliquidity staking
According to Mars Finance, Kinetiq, a liquidity staking platform based on the Hyperliquid blockchain, launched its governance token KNTQ on November 27th. Currently, KNTQ is priced at $0.17, with a fully diluted value-to-value (FDV) of approximately $170 million. However, according to The Defiant, Kinetiq's total value locked (TVL) has decreased by about 60% from $2.63 billion in early October to approximately $1.1 billion currently, likely due to airdropped tokens being liquidated before the token issuance.