The hype, a high-lipid native token, was a standout performer among Altcoins in May as traders flocked to it. Distributed ExchangeAccording to A Report Published by Asset Manager Grayscale on Monday.
According to the Crypto Data Provider, the hype has recently changed hands to around $37.72, up 14% in the past day. Co Ringecko. Token prices have risen 80% over the last 30 days. The hype hit a record high of $39.68 over a week ago.
“In high lipids, we see consistently high organic use and robust liquidity, and should be increasingly competing with centralized derivative exchanges such as Binance and Bybit,” a Grayscale analyst wrote, highlighting Hyperliquid’s recent market share jump.
For many years, the permanent futures trading market has been dominated by centralized exchanges. This is mainly operated outside the US, but high altitude services are off in the US, but exchanges like Coinbase are not available You are trying to get A lasting future from the ground.
Futures contract Allows traders to speculate about the price movement of the underlying asset. Unlike traditional futures contracts with fixed expiration dates, permanent futures can be held indefinitely, as long as the trader maintains appropriate margin requirements.
Permanent futures often support a large amount of leverage, as traders borrow money effectively to amplify returns. However, traders risk losing margins that serve as collateral for borrowed funds. Hyperliquid employs a popular product among cryptographic native traders and utilizes smart contracts as a decentralized exchange to make the piping of services transparent.
According to Grayscale, in May, Hyperliquid’s hypercore products produced 80% of the permanent future Chan trading volume. Analysts write that it led to a permanent futures trading volume worth $17 billion for hypercore.
Defillama said the platform debuted late last year and has supported $1.6 trillion in cumulative permanent futures trading volume since it debuted late last year. Hyperliquid’s network accelerated a permanent futures trading volume worth $250 billion in May. data show.
For comparison, according to Defilama, Solana-based Jupiter Perpetual Exchange reached second place in permanent futures trading volume last month, generating $20.5 billion.
Over the past few weeks, activity with high lipids has become an industry-wide sight, primarily due to highly leveraged bets made by pseudonym trader James Wynn. He once ordered Billion Dollar Bitcoin Bettraders have recently been liquidated, Lose $100 million.
He has since started recruiting donations on his previous Twitter X, creating more engagement. However, it appears to be in the related X-post Recently deleted.
Critics say some of the recent decisions to rise are rubbing against the unauthorized ethos of diversified finances, or debt. Collaborative efforts To abolish surge in meme coins that could cause losses to some users. There is also that low volator count I raised my eyebrows.
November, high fat Driving out hype of 310 million people for early users. The airdrop was initially valued at around $1.6 billion, but is now worth $11.7 billion based on current prices.
According to Messari research analyst Matthew Nay, while so-called farmers face headwinds in terms of user engagement after they pay cash and offer tokens for free as they move on, Hyperliquid has been able to build strong communities in a sustainable way.
“The effect of wealth is built around this very close community and is built around excellent technology,” he said. Decryptionadds that the service appeals to “a long, truly speculative, leveraged trader who loves to breed codes.”
Edited by James Rubin