According to Hyperliquid data, HYPE continued its upward trend and reached $25, with a 24-hour increase of 7.87%. The market value temporarily reached $8 billion, and the 24-hour trading volume reached $395 million. BlockBeats Note: Hyperliquid is a decentralized derivatives trading platform specifically built on L1.
Although its mainnet has not been launched yet, its vision is to create a decentralized Binance. As of now, Hyperliquid has not received any investment. The Hyperliquid Foundation announced 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 are still bridged through Arbitrum.
More than 60% of the USDC tokens on the Arbitrum chain are held by Hyperliquid addresses. As an L1 platform, Hyperliquid’s ecosystem is not yet complete. Its self-operated model covers browsers to DEX, with all technological innovation and development focused on improving the performance of the decentralized derivatives trading platform.
Source: According to theblockbeats.info
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<p>The post Hyperliquid’s HYPE Token Skyrockets to $25, Market Value Hits $8 Billion Amid Decentralized Derivatives Boom first appeared on CoinBuzzFeed.</p>
