2025-04-20
Hyperliquid is a next-generation
decentralized trading platform and Layer-1 blockchain, purpose-built for
high-speed, low-cost, and transparent crypto trading.
Its flagship product is a decentralized
exchange (DEX) that specializes in perpetual futures contracts, allowing users
to speculate on cryptocurrency prices without owning the underlying assets.
In March alone, Hyperliquid handled
$175 billion in trading volume.
By mid-April, it had already reached
$83 billion, showing strong growth.
This is a big jump from its position
earlier in 2024. Perpetual futures (perps), let traders bet on price movements
without an expiry date.
They work like futures but are more
flexible, staying in sync with the market using a funding rate system that
balances long and short positions.
Hyperliquid’s rising volume is now
nearly 10% of Binance’s, the largest centralized exchange. This shows more
traders are choosing decentralized options.
Since April 2024, Hyperliquid’s growth
has been steady, while other platforms like Jupiter, GMX, and Vertex Edge have
smaller, steady market shares.
This kind of concentration is common as
markets mature, leading platforms benefit from more users and deeper liquidity.
Onchain perps may become more popular
than spot trading because they offer leverage, meaning traders can control
larger positions without needing the full amount of money upfront.
These platforms are also non-custodial,
so users keep control of their funds, reducing the risk tied to centralized
exchanges. Plus, smart contracts automate trades, avoiding delays or failures
during high market volatility.
