Hyperliquid has emerged as the leader in decentralized perpetual futures trading with 58% market share on a total monthly volume of 423 billion dollars across the top eight venues. The platform’s 30-day trading volumes range between 187 and 245 billion dollars, bringing cumulative volume to approximately 2.9 trillion dollars since its 2023 launch. Open interest has reached between 5 and 13 billion dollars, confirming genuine trader commitment beyond wash trading. Hyperliquid built its own Layer 1 blockchain with a central limit order book model, delivering sub-second execution and near-zero fees. Tokenized real-world assets have at times accounted for over 50% of the platform’s weekly trading volume.
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