Hyperliquid, a decentralized platform for trading derivatives, has set a new record in trading volume and fees.
Hyperliquid's Achievements and Records
On August 16, 2023, Hyperliquid reported reaching a record $29 billion in 24-hour trading volume and $7.7 million in fees. The HYPE token is trading close to its all-time high.
Technical Architecture of the Platform
Hyperliquid utilizes its proprietary consensus mechanism, HyperBFT, designed to optimize high-frequency trading. This allows for processing up to 100,000 orders per second. Unlike traditional decentralized exchanges, Hyperliquid implements a fully on-chain order book system.
Growth of Institutional Interest in Hyperliquid
Institutional interest in Hyperliquid has significantly increased. Collaborations with Circle and Anchorage Digital Bank enhance liquidity and improve security for institutional users.
Hyperliquid demonstrates impressive growth rates and has established itself as a serious competitor to both centralized and other decentralized platforms.
