Hyperliquid Achieves $22 Billion Trade Volume in 24 Hours
Hyperliquid has achieved a record-breaking $22 billion in trade volume within 24 hours, surpassing its previous record of $21 billion set the day prior. This growth reflects Hyperliquid's increasing popularity and influence in decentralized finance (DeFi).
Key Highlights
- Open interest reached $4.7 billion, indicating strong trader engagement.
- Protocol revenue hit $9.5 million, showcasing financial success amid increased trading activity.
- Prior to the record, Hyperliquid recorded $15.6 billion in trading volume on Sunday and nearly $19 billion in perpetual trades shortly before.
- The recent surge is linked to the launch of meme tokens associated with Donald Trump and Melania Trump, allowing up to 3x leverage for traders.
- Despite price drops (TRUMP -28.3%, MELANIA -53%), trading activity remained high, contributing to new volume records.
Factors Driving Trader Preference
- Low fees attract high-frequency traders.
- Fast transaction speeds maintain efficiency during volatility.
- User-friendly interface resembles centralized exchanges, appealing to both experienced and new users.
Hyperliquid has processed over $500 billion in trade volume since last December and ranks as the fifth-largest decentralized derivatives exchange by Total Value Locked (TVL) according to DefiLlama.