Hyperliquid (HYPE), a layer-1 blockchain, is crushing it in the decentralized perpetual futures market. A recent report shows it controls nearly 80% of the DEX perpetuals trading volume.
Secret to Success: Tokens and UX
The platform’s success boils down to two things: smart token listings and a killer user experience. This combination has allowed Hyperliquid to achieve daily trading volumes exceeding $6.4 billion on average over the past three months – more than half the daily volume of major centralized exchanges (CEXs) like Bybit and OKX.
Fueling the Fire: HyperCore and Buybacks
Hyperliquid’s trading engine, HyperCore, is generating serious cash. Fees are split, with a portion going to a fund that buys back HYPE tokens. Since February, this fund has purchased roughly $96 million worth of HYPE, averaging about $1.4 million daily.
Future Predictions: Taking on the CEX Giants
Analysts predict Hyperliquid will continue its growth and start seriously competing with established CEXs, further solidifying its dominance in the decentralized perpetuals market. At the time of writing, HYPE is trading at $18.01.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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