Data: KNTQ token valuation reaches 170 millions USD, protocol TVL has dropped by 60%

ChainCatcher news, the liquidity staking platform Kinetiq, based on the Hyperliquid blockchain, launched its governance token KNTQ on November 27. Currently, the price of KNTQ is $0.17, with a fully diluted valuation (FDV) of approximately $170 millions.

However, according to The Defiant, Kinetiq's total value locked (TVL) has dropped by about 60% from $2.63 billions in early October to around $1.1 billions currently, which is likely due to airdrop users closing their positions before the token launch.