In July, Hyperliquid emerged as a formidable player in the blockchain space, drawing users away from Solana. Its advanced derivatives trading experience helped it capture a substantial portion of blockchain revenue.
The platform’s open interest surged to 15.3 billion USD, reflecting an impressive 369% increase year-to-date. The HYPE token also hit an all-time high of 49.75 USD, demonstrating strong market interest.
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