Hyperliquid currently leads all open-source decentralized swap platforms in terms of trading volume.
It recorded a daily trading volume of $1.39 billion yesterday, surpassing competitors such as Jupiter, Thinfutures and dYdX.
Hyperliquid led all decentralized open-ended #swap platforms in terms of trading volume.
In the past few days, the platform has recorded higher daily trading volumes than other major decentralized derivatives platforms: according to DeFiLlama, Hyperliquid's daily trading volume yesterday was about $1.39 billion, compared to Jupiter's $699 million, SynFutures' $556 million and dYdX's $331 million.
Hyperliquid is a decentralized platform that allows users to trade open-ended derivatives by aggregating liquidity from various sources. It also allows #cryptocurrencies to be traded using leverage, which means borrowing funds to increase purchasing power. The company operates as a tier-1 application #chain with its own tokens such as Purr and Points.
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In recent months, Hyperliquid's average daily transaction volume has surpassed $1 billion, surpassing decentralized trading platforms. The protocol does not require data storage, so traders can always access their funds via #cryptocurrency wallets.
The project uses a specially developed trading engine focused on low latency, which allows for fast execution of orders on the Hyperliquid chain, which is extremely important for high-frequency traders.
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