Decentralized Hyperliquid trading platform has hit a new high, according to figures from Coinglass $ 6 billion in open interest.
The Golf only came one day after hyperliquid reported That open volume on his platform reached a record high of $ 5.6 billion.
According to Coinglass factsBitcoin has the dominant position on Hyperliquid with more than $ 2 billion in open interest.
Ethereum follows with more than $ 1 billion in open interest, while other digital assets such as Solana, XRP, Pepe, Fartcoin and Hyperliquid’s Native Hype -Token also retain a strong trading activity on the platform.
Open interest follows the total value of troubled futures contracts and is often seen as a signal of liquidity and market sentiment. But the rise in open interest also brings extra volatility. Although deeper liquidity can support healthier markets, lifting tree positions increase the risk of competitive price fluctuations.
Why the open interest of hyperliquid increases
The rising figures on Hyperliquid suggest a stronger market participation and an increased traction from crypto traders who are looking for alternative trading platforms for centralized exchanges.
It shows that crypto traders are increasingly preferable to decentralized platforms for speed, transparency and non-guardianship. Hyperliquid offers these qualities that have contributed to strengthening its position in the market.
It is not surprising that Hyperliquid accounts for more than 60% of the Perpetual Futures market on the chain. In April alone, the Platform $ 187 billion in transactions processed.
According to Defillama factsThe platform meets the momentum in May, because it has already removed more than $ 50 billion in trade volume this month.
In the meantime, the rising opening volume of Hyperliquid comes in accordance with the price jump from Bitcoin at more than $ 105,000, the highest level in three months. The price movement has fueled speculation that Bitcoin could soon be testing his high from January of $ 109,000.
Challenges remain
Despite the growth, Hyperliquid has confronted with an increased research by the community on some of his activities.
In December, the hype -tinkling saw a steep drop after a wallet was linked to a Noord -Korean group reportedly lost $ 500,000 trade on the platform. Market analysts considered the incident a potential stress test of the system.
More recently, Hyperliquid came under fire for the random deletion of a less well-known crypto asset called Jelly after a short squeeze that caused almost considerable losses for the platform.
However, some traders defended the action of the platform, with reference to his performance and reliability.
