Hyperliquid ($HYPE) – Altcoin Reviews

Hello fellow traders, welcome to today’s altcoin review. Today, we will talk about the largest decentralsied future trading platform, HyperLiquid ($HYPE). Over the past 90 days, it has averaged a trading volume of approximately $6.4 billion, surpassing competitors like dYdX and GMX. This accounts for over 50% of the market share in decentralized perpetual trading.

In comparison, dYdX reports a 24-hour trading volume of $366 million with an open interest of $142 million across 194+ tradable markets.
HyperLiquid is a high-performance decentralized perpetuals exchange operating on its own custom Layer 1 chain.

So let’s learn about its history and understand how it works.

WHO CREATED HYPERLIQUID?

• Anonymous Core Team: The team behind HyperLiquid remains pseudonymous. If you’ve read my updates about PancakeSwap ($CAKE), you’ll recall I mentioned that their team is also anonymous — similar to projects like SUSHI and Curve. This is common among decentralized platforms, which often choose anonymity to align with the ethos of decentralization. What’s clear is their background in high-frequency trading, cryptography, and performance engineering.
• VC Backing: While the team is low-profile, the protocol has quietly gained attention from prominent crypto-native investors and on-chain whales.

 

WHAT DOES HYPERLIQUID DO?

HyperLiquid is a decentralized

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