Many popular graph metrics encode average properties of individual network elements. Complementing these conventional graph metrics, the eigenvalue spectrum of the normalized Laplacian describes a network's structure directly at a systems level, without referring to individual nodes or connections. In this paper, we study the spectrum and their applications of normalized Laplacian matrices of hype-cubes, a special kind of Cayley graphs. We determine explicitly all the eigenvalues and their corresponding multiplicities by a recursive method. By using the relation between normalized Laplacian spectrum and eigentime identity, we derive the explicit formula to the eigentime identity for random walks on the hype-cubes and show that it grows linearly with the network size. Moreover, we compute the number of spanning trees of the hype-cubes.