Kinetiq’s KNTQ Sets Record Above $0.50 as Market Cap Tops $156 Million

Kinetiq (KNTQ), a liquidity-staking protocol token in the Hyperliquid ecosystem, climbed above $0.50 to an all-time high Thursday, pushing its market capitalization above $156 million as Hyperliquid’s HYPE token also rose.

An earlier Thursday snapshot showed KNTQ up more than 15% in nearly six hours. The new peak extended a run in which KNTQ gained 47.7% over the 14 days through Oct. 28, when it set its previous $0.4547 record. That earlier high came as Elysium, a layer-2 network Kinetiq is developing for Hyperliquid, neared its scheduled Nov. 9 mainnet launch.

At 11:42 a.m. ET (15:42 UTC), KNTQ traded at $0.4939, up 14.54% over 24 hours. That later reading followed the record-setting move and put the token below $0.50. Hyperliquid’s HYPE token stood at $93.54, up 17.23% over the same period.