The post Hyperliquid celebrates new $21b volume ATH appeared on BitcoinEthereumNews.com.

Hyperliquid noted new all-time highs across three protocol metrics as on-chain users tapped the DEX to trade Trump meme coins. Decentralized exchange and layer-1 blockchain Hyperliquid recorded all-time highs in 24-hour volume, open interest, and daily protocol revenue amid Donald Trump-driven crypto market volatility. The platform achieved $21 billion in daily trading volume, surpassing all previous records. Hyperliquid’s open interest peaked on Jan. 20 at $4.7 billion, while 24-hour on-chain revenue reached $9.5 million. Generating nearly $10 million in daily fees, Hyperliquid ranked fourth among the top five highest revenue-generating protocols. Despite being a newer entrant, the platform was not far behind established revenue leaders like (SOL), Ethereum (ETH), and Tether (USDT). Hyperliquid posted its new ATHs following a weekend dominated by meme coins tied to incoming U.S. President Donald Trump. In the last 72 hours, the Trump family has issued two billion-dollar meme coin tokens Official Trump (TRUMP) and Official Melania Meme (MELANIA) in the last 72 hours. TRUMP, named after the 45th and 47th President of the United States, surged to over $70 billion in fully diluted valuation before a market correction brought it down to around $50 billion. The launch triggered a wave of on-chain activity as traders scrambled to acquire the first meme coin backed by a world leader. Hyperliquid’s perpetual DEX enabled investors to speculate on the Trump meme coins, offering leveraged positions to capitalize on outsized gains. The protocol launched in November 2024, bursting onto the scene with a DEX built atop its own L1 blockchain. It also airdropped over $1 billion to early users and has staked 300 million of its (HYPE) token with 16 network validators. Source: https://crypto.news/hyperliquid-celebrates-new-21b-volume-ath/

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Filed under: News - @ January 20, 2025 7:27 pm