Hyperliquid exchange reports reaching a record daily trading volume of $21 billion

What’s new? The team of the decentralized crypto exchange (DEX) Hyperliquid on January 20 reported the achievement of record figures. Thus, the daily trading volume amounted to $21 billion, open interest amounted to $4,7 billion, and daily revenue amounted to $9,5 million.

Source: X.com

What else is known? A day earlier, the team announced that, in line with its commitment to preserving value and supporting the community, a special facilitation fund will begin accumulating native tokens from other projects on the Hyperliquid network.

Source: X.com

Selection criteria include fair initial distribution, decentralized ownership, first deployment on Hyperliquid, and positive impact on the Hyperliquid community.

Once suitable coins are selected, the Hyper Foundation NPO will decide on inclusion and representation. Over time, this responsibility will be assumed by community members.

The pilot asset added to the foundation is PURR. The foundation will initially hold 3 million coins or 0,5% of the total supply at the time of inclusion.

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Hyperliquid, designed to trade open-ended futures, runs on its own Layer 1 (L1) blockchain, of the same name, which was launched in February 2023. The project was created by anonymous developers under the nicknames Jeff and iliensinc. The platform offers high speed transaction processing and low fees.

In November 2024, the developers launched the HYPE native token, which is used to pay fees, participate in voting on project development, as well as staking and receiving additional rewards for participation in maintaining the security of the network.

At the time of writing, the asset ranks 29th in the overall cryptocurrency market capitalization ranking with a market cap of $7,39 billion and is trading at $22,12, having added 0,2% over the day. For the week, the growth was 11,5%.

Earlier this year, Hyperliquid faced accusations of centralization and selling validator seats. The developers refuted these allegations and assured users that in the future the source code of nodes will be open sourced and a Foundation Delegation program will be launched to increase decentralization.