en.coinotag.com
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Hyperliquid has marked a significant milestone by surpassing $1.5 trillion in all-time trading volume, eclipsing the established platform dYdX.
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The surge in Hyperliquid’s success is driven by its robust product offerings, strategic token buybacks, and organic growth through user referrals.
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Despite facing challenges, including the controversial delisting of JELLYJELLY, Hyperliquid is steadily working on restoring its reputation within the crypto community.
Hyperliquid achieves $1.5 trillion in trading volume, outpacing dYdX amidst controversies while focusing on strong product offerings and strategic growth.
Hyperliquid Trading Volume Surpasses dYdX
Hyperliquid, a cutting-edge trading platform built on high-performance Layer 1 technology, recorded a noteworthy achievement earlier this month by capturing more than 60% of the perpetuals trading market. Its $HYPE token also reached a three-month high, reinforcing investor confidence.
Recent analytics revealed that Hyperliquid’s all-time trading volume has now exceeded that of dYdX, marking a significant feat for a platform that only launched in 2023.
dYdX is a decentralized perpetuals exchange that has built its reputation over five years, while Hyperliquid has quickly carved a niche in a competitive environment. Unlike dYdX, which employed incentives such as reimbursement of trading fees using its native token to attract users, Hyperliquid focused on product functionality and quality.
With the $HYPE token generation event (TGE) occurring in 2024, Hyperliquid benefited from a booming market for crypto perpetuals trading, demonstrating a more sustainable growth approach.