Hyperliquid Dominates Crypto Derivatives Market After Airdrop

Crypto derivatives exchange Hyperliquid is surpassing all competitors in volume traded after it issued one of the largest airdrops in the industry’s history. Hyperliquid’s trading volume jumped by 84% in the last 24 hours to almost $5 billion, accounting for 52% of trades in that time and beating all other platforms, according to DeFiLlama. Hyperliquid’s volume is more than seven times larger than dYdX’s, the exchange that comes second on the list. The exchange also surpassed competitors, including SynFutures, ApeX Protocol, and Jupiter, which accounted for 7.78%, 6.73%, and 5.95% of cryptocurrency trades, respectively. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant