Hyperliquid Dey Catch 35% Blockchain Money As HYPE Dey Rise
According to VanEck report, decentralized DeFi derivatives exchange Hyperliquid catch 35% of total blockchain revenue for July, dem high-value traders from Solana because of reliability wahala and delay for upgrades. Open interest for Hyperliquid climb to $15.3 billion — up 369% for the year so far — wit over $5.1 billion USD Coin bridge enter. Dem integrate Phantom Wallet wey power $2.66 billion for perpetual futures volume, generate $1.3 million fees and add 20,900 new users.
Hyperliquid own token HYPE don rise from about $10 for April to all-time high $49.75 for July 14 before e fall small to $37.38 as market dey pullback. Meanwhile, Solana SOL token don drop 44% since January. Dis sharp growth for blockchain revenue show say demand for on-chain derivatives dey rise and place Hyperliquid as leading DeFi derivatives DEX.
Bullish
Dis news good for HYPE because Hyperliquid get serious increase for blockchain revenue and open interest, e show say plenty people dey waka join platform and dem user numbers dey grow. For short time, traders go likely dey follow momentum after HYPE recent ATH and fees wey dey climb. For long run, steady USDC wey dey come in, join with major wallets like Phantom, and dem solid market share for on-chain derivatives fit help token usefulness and demand. The way SOL dey go down show more how Hyperliquid dey strong for competition, e build better feeling and fit make HYPE price rise.