A prominent crypto-analysis company says that the Layer-1 Blockchain Hyperliquid (hype) dominates the decentralized eternal futures-trading market.
In a new thread on the social media platform X, Blockworks out That hyperliquid now accounts for almost 80% of the eternal futures -trading volume in the decentralized Exchange (DEX) space.
According to the Crypto Insights platform, Hyperliquid performs enormously better than its competitors because of an effective token listing strategy and first-class user experience (UX).
“The success of Hyperliquid mainly comes from fast, relevant token reliefs and superior UX for users and market makers.
Currently it is the only DEX that can compete with CEX volumes (centralized exchange).
In the past three months, the platform has an average of $ 6.4 billion in the daily trade volume, which is just above 50% of the daily trade volumes of Bybit and OKX.‘
Block notes The Hyperliquid trade motor, Hypercore, has given the project sufficient capital to initiate huge token buying.
“The reimbursements generated on Hypercore are divided between the HLP (hyperliquic provider) and the Assistance Fund. The Assistment Fund uses costs to buy back the hype -toky. From February to the present, the Assistance Fund has bought a cumulative $ 96 million in hype, which is around $ 1.4 million every day. “
Block to predict That hyperliquid will be big enough to hire his CEX opposite.
“We expect Hypercore to start competing with CEXS and remove the market share of them, while we continue his dominance in the decentralized Perpetuals space.”
At the time of writing, hype acts for $ 18.01.
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Generated image: midjourney