Hyperliquid (HYPE)

Hyperliquid (HYPE)

Hyperliquid is a Layer-1 blockchain specifically designed for on-chain derivatives trading. It combines the seamless user experience of a centralized exchange (CEX) with the full transparency of a decentralized platform (DEX).

This means that anyone can monitor trading activity on Hyperliquid directly through the blockchain explorer.

Because it has its own blockchain network, Hyperliquid is able to deliver super-fast transactions with finality in less than a second-a feature that is highly demanded by professional traders.

The platform’s popularity soared after James Wynn, a user on X (Twitter), made nearly $90 million trading futures on Hyperliquid, despite losing it all within a week.

Even so, Hyperliquid remains a profitable platform, with over $5 million in revenue in just 24 hours, and open interest exceeding $10 billion.

The HYPE token is the network’s native asset and is used for governance, staking, and other advanced activities such as integration with smart contracts. Since January, HYPE has scored a surge of over 1,000%, making it one of the best performing cryptocurrencies this year's.