Hyperliquid Secures Significant Share of DEX Perpetuals Volume due to Relevant Token Listings: Blockworks Report
Crypto Corner
💼 Lo and Behold: Hyperliquid Tearing Up Decentralized Futures Trading
Strap in, folks! The crypto world is abuzz with the meteoric rise of Hyperliquid. A preeminent analytics firm can't help but sing its praises - Hyperliquid now commands a whopping 78% of the dangling carrot in the decentralized exchange (DEX) futures trading arena (sorry, OKX and Bybit).
According to Blockworks, the key to Hyperliquid's success lies in a clever token-listing strategy and an outstanding user experience (UX). It seems that Neptune's been dialing up the cool factor on dApps, leaving rivals in its wake.
'"Hyperliquid's success is primarily due to speedy, relevant token listings and superior UX for users and market makers. It's currently the only DEX that can keep up with centralized exchange (CEX) volumes. Over the past three months, the platform has averaged $6.4B daily trading volume, which puts it just above Bybit and OKX."'
Blockworks' insightful team reckons that Hyperliquid's trading engine, HyperCore, has generously dished out funds for boss token buybacks.
'"Fees from HyperCore get divided between the liquidity providers and the assistance fund. The assistance fund pulls fees for hoovering up the HYPE token. Since February, the assistance fund has scooped up a total of $96M in HYPE, or approximately $1.4M daily."'
Wanna catch a glimpse of the future? Blockworks predicts that Hyperliquid'll surpass CEXs, taking market share right out of their pockets while maintaining its dominance in the decentralized perpetuals realm.
At the moment, HYPE's exchange rate sits pretty at $18.01. Keep your eyes peeled for more updates on this exciting journey!
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- The decentralized exchange (DEX) platform, Hyperliquid, has almost exclusively dominated the DEX futures trading sector, holding a staggering 78% of the market share.
- Hyperliquid's success is largely due to its strategic token listings, superior user experience (UX), and the ability to match the trading volume of centralized exchanges.
- Hyperliquid's unique trading engine, HyperCore, has been allocating funds for massive token buybacks from the assistance fund, scooping up an estimated $1.4 million worth of HYPE tokens daily since February.
- With an exchange rate for the HYPE token currently at $18.01, blockchain analysts predict that Hyperliquid is poised to surpass centralized exchanges and maintain its lucrative position in the decentralized perpetuals market.
