The post Hyperliquid breaks records, what’s behind the $11.5B surge? appeared on BitcoinEthereumNews.com.

Hyperliquid has reached a milestone with $11.5 billion in trading volume and $1.32 billion in liquidation volume. This surge is by a massive airdrop of 310 million HYPE tokens, increasing liquidity and interest. Despite the success, risks such as price instability and liquidity challenges remain. The platform’s unique Dutch auction system adds both excitement and uncertainty. Hyperliquid, has achieved a milestone by reaching a $11.5 billion trading volume and liquidation volume reaching $1.32 billion, as well as setting new all-time highs. This surge is not only a reflection of Hyperliquid’s growth in the decentralized finance (DeFi) space. So, what is behind this explosive growth, and what are the challenges that come with it? Reason behind the Hyperliquid surge The huge increase in trading volume for Hyperliquid is mainly due to its massive airdrop. The platform gave away 310 million HYPE tokens to over 94,000 users. HYPE, played a major role in this surge, quickly rebounding after a market dip and surpassing $33 to set a new historical peak with the assistance fund currently holding around 11.234 million HYPE tokens, which is worth approximately $356 million. The platform’s assets are worth over $1 billion, and tokens like HYPE have even reached over $33, attracting a lot of attention. As more people have started holding and trading the tokens, the platform has seen a huge rise in liquidity and trading volume. Within days, 270 million HYPE tokens were claimed, worth around 11.5 billion, which surrpassed Uniswap’s 2020 airdrop in size. Some people think the price might drop later as the excitement fades, and Hyperliquid still relies on its own DEX trading to keep prices stable. Tokens like PURR and HFUN have seen huge gains, with some rising by 200%, which makes the platform even more attractive. Hyperliquid stands out from other decentralized…

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Filed under: News - @ December 22, 2024 3:09 am