Hyperliquid famous new all-time highs throughout three protocol metrics as on-chain customers tapped the DEX to commerce Trump meme cash.
Decentralized change and layer-1 blockchain Hyperliquid recorded all-time highs in 24-hour quantity, open curiosity, and every day protocol income amid Donald Trump-driven crypto market volatility. The platform achieved $21 billion in every day buying and selling quantity, surpassing all earlier information.
Hyperliquid’s open curiosity peaked on Jan. 20 at $4.7 billion, whereas 24-hour on-chain income reached $9.5 million.
Producing almost $10 million in every day charges, Hyperliquid ranked fourth among the many prime 5 highest revenue-generating protocols. Regardless of being a more moderen entrant, the platform was not far behind established income leaders like (SOL), Ethereum (ETH), and Tether (USDT).
New ATHs reached immediately embody:
+ 24h quantity: $21B
+ Open curiosity: $4.7B
+ 24h protocol income (charges + HLP): $9.5M pic.twitter.com/FczK9Js0lz— Hyperliquid (@HyperliquidX) January 20, 2025
You may also like: Trump “opened the period” of meme cash, says CryptoQuant CEO
Hyperliquid posted its new ATHs following a weekend dominated by meme cash tied to incoming U.S. President Donald Trump. Within the final 72 hours, the Trump household has issued two billion-dollar meme coin tokens Official Trump (TRUMP) and Official Melania Meme (MELANIA) within the final 72 hours.
TRUMP, named after the forty fifth and forty seventh President of the USA, surged to over $70 billion in totally diluted valuation earlier than a market correction introduced it right down to round $50 billion. The launch triggered a wave of on-chain exercise as merchants scrambled to amass the primary meme coin backed by a world chief.
Hyperliquid’s perpetual DEX enabled buyers to take a position on the Trump meme cash, providing leveraged positions to capitalize on outsized beneficial properties.
The protocol launched in November 2024, bursting onto the scene with a DEX constructed atop its personal L1 blockchain. It additionally airdropped over $1 billion to early customers and has staked 300 million of its (HYPE) token with 16 community validators.
Learn extra: Prime explanation why Trump and Melania meme cash might crash quickly
