In a significant move for the cryptocurrency market, Hyperliquid has launched XMR/USDC perpetual contracts, enabling traders to engage in leveraged trading of Monero (XMR) without the need for direct access to the spot market. This announcement comes at a pivotal moment as Monero recently achieved an all-time high of $797 on January 14, 2025, following a remarkable 65% surge in value over the past month, largely fueled by a growing demand for privacy-focused cryptocurrencies. The source notes that this trend reflects an increasing interest in decentralized finance and privacy solutions among investors.
Introduction of Perpetual Swaps
The introduction of perpetual swaps allows traders to leverage their positions up to 5x, facilitated by the deployment of Felix Protocol's HIP3. This innovative trading option is particularly appealing in the current market climate, where regulatory pressures have led to Monero's delisting from several major exchanges.
Impact on Monero Derivatives
Despite these challenges, the trading volume for Monero derivatives has seen a notable increase of 13% since the launch of the new contracts, indicating a robust and sustained interest among traders in the derivatives market.
As the cryptocurrency market recovers, attention is turning to Bittensor and Hyperliquid, both of which are showing promising growth. For more details, see the full article here.
