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Hyperliquid has quickly become one of the most popular decentralized cryptocurrency exchanges. The seamless interface coupled with the offering of familiar trading features and the underlying benefits of decentralization have made it a preferred choice for many traders. In the following guide, we take a look at what makes Hyperliquid different compared to existing solutions, its structure, tokenomics, and more. Quick Navigation What is Hyperliquid? Hyperliquid is a decentralized exchange (DEX) that, unlike most of its competitors, runs on its own blockchain. The platform offers crypto-based perpetual futures contracts that can be traded without owning the underlying assets, similar to how centralized exchanges (CEXs) work. One of Hyperliquid’s main appeals is its high-speed, simple yet feature-rich platform for high-level trading while offering low latency, reliability, and a smoother user experience. That said, Hyperliquid finds a good balance between centralized finance (CeFi) and decentralized finance (DeFi) elements. The platform supports a lot of different cryptocurrencies such as BTC, ETH, AVAX, SOL, SUI, you name it. It supports so many cryptocurrencies that even data aggregators have dedicated pages to keep track of its ecosystem (which spans a market capitalization of around $8 billion, mostly due to the HYPE token). But it’s not just the amount of supported coins or the user-friendly UI. The project offers traders so many features and trading options that the cumulative value of its perpetuals volume has reached over $600B in less than two years, as shown below: Source: DeFiLlama Exploring Hyperliquid’s Features The rise in Hyperliquid’s total value locked and ecosystem growth is more than just hype. It could be attributed to the protocol’s team constantly developing and deploying new features, rolling out new, exotic trading instruments that not many other DEXs cared about at the time. One of the most interesting features of Hyperliquid is the…

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Filed under: News - @ January 1, 2025 1:24 pm