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.