Hyperliquid, a decentralized derivatives exchange, has reached a record of $10.6 billion in open interest, signaling the growing trust in DeFi.
What is Hyperliquid and Why Does Its Growth Matter?
Hyperliquid is a decentralized exchange operating on its own Layer 1 blockchain. Achieving $10.6 billion in open interest indicates increased liquidity and trader confidence in decentralized solutions for derivatives trading.
Decoding Open Interest Crypto
Open interest refers to the total number of outstanding derivative contracts. The record of $10.6 billion denotes increased trading activity and trader confidence in the Hyperliquid platform.
The Appeal of Perpetual Futures on a Decentralized Exchange
Perpetual futures allow traders to speculate on asset prices without an expiry date. Access to these instruments on decentralized platforms reduces risks and increases the transparency of trading operations.
Hyperliquid's achievement in open interest serves as validation for the growth of the DeFi sector and the shifting interests of traders toward decentralized platforms.
