On December 15, according to Hyperliquid data, HYPE continued its upward trend and reached $25, with a 24-hour increase of 7.87%. This resulted in a temporary market value of $8 billion and a 24-hour trading volume of $395 million. BlockBeats Note: Hyperliquid is an L1 blockchain specifically designed for decentralized derivatives trading.
Its mainnet has not yet been launched. The vision of Hyperliquid is to create a decentralized Binance. As of now, Hyperliquid has not received any investment. The Hyperliquid Foundation announced in the genesis event that “there is no allocation for private investors, centralized trading platforms, or market makers in the token distribution.” Currently, Hyperliquid’s on-chain deposits and withdrawals require bridging through Arbitrum.
Over 60% of the USDC tokens on the Arbitrum chain are held by Hyperliquid addresses. As an L1 blockchain, Hyperliquid’s ecosystem is not yet complete. Hyperliquid operates its own models for browsers and DEX, focusing all technological innovation and development on improving the performance of the decentralized derivatives trading platform.
Reference: ‘According to theblockbeats.info’.
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