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

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

However, according to a report by The Defiant, Kinetiq's total value locked (TVL) has decreased by about 60% from $2.63 billion at the beginning of October to approximately $1.1 billion, likely due to airdrop users closing their positions before the token issuance.