Ether Outperforms Bitcoin on HyperLiquid Amidst Record Trading Volume
The trading platform HyperLiquid has seen a notable increase in ether (ETH) trading activity, surpassing that of bitcoin (BTC). The cumulative volume of perpetual trading has exceeded $500 billion, marking a remarkable 15-fold year-to-date increase, according to DefiLlama.
Key Highlights:
- This week, HyperLiquid's ether perpetuals recorded higher volume compared to BTC.
- The platform achieved an average daily volume of over $5 billion in the last week.
- Ether has taken the lead with a cumulative trading volume of $7 billion this week, compared to bitcoin's $5.94 billion.
The platform, operating on a custom-built layer 1 blockchain, emphasizes its use of a dedicated protocol, focusing on both institutional users and decentralized finance (DeFi) accessibility. An algorithmic trading firm noted:
“HyperLiquid’s success seems rooted in prioritizing product-market fit, blending institutional-grade performance with DeFi accessibility, such as no KYC requirements.”
In the last two weeks, the newly launched HYPE token has gained over 300%, achieving a market value exceeding $5.69 billion, surpassing traditional DeFi platforms like Aave.
With state-of-the-art trading functionality, HyperLiquid is a notable player in the crypto landscape, emphasizing on delivering user-centric and high-performance trading experiences.
