Hyperliquid celebrates record-breaking trading volume, open interest, and protocol revenue during Trump-driven crypto market frenzy.
Record-Breaking Metrics on Hyperliquid
Decentralized exchange (DEX) and layer-1 blockchain Hyperliquid has reached an all-time high in daily trading volume, open interest, and protocol revenue. Fueled by market activity surrounding Donald Trump-themed meme coins, the platform recorded $21 billion in 24-hour trading volume, a significant milestone since its November 2024 launch.
Hyperliquid also reported a peak open interest of $4.7 billion on January 20, alongside daily on-chain revenue of $9.5 million. The protocol generated nearly $10 million in daily fees, securing its position among the top five highest revenue-generating platforms, trailing major players like Ethereum and Solana.
Trump Meme Coins Drive Activity
The surge in trading volume coincided with the launch of meme coins linked to incoming U.S. President Donald Trump. Over the past 72 hours, two Trump-related tokens—Official Trump and Melania Meme—entered the market, generating substantial interest.
TRUMP, the flagship meme coin, briefly soared to a $70 billion fully diluted valuation before settling around $50 billion. This unprecedented launch spurred significant on-chain activity, with traders leveraging Hyperliquid’s perpetual DEX to speculate on Trump meme coins with high returns.
Hyperliquid’s Rapid Growth
Launched just months ago, Hyperliquid is built on its proprietary layer-1 blockchain. The platform has rapidly gained traction, offering advanced features such as leveraged trading on popular assets. In its early phase, Hyperliquid airdropped over $1 billion to users and staked 300 million HYPE tokens with 16 network validators to enhance security and engagement.
Industry Leaders Acknowledge Hyperliquid’s Impact
With its innovative approach and explosive growth, Hyperliquid has solidified its place as a competitive player in the crypto ecosystem. The Trump-themed meme coin frenzy underscores the platform’s ability to adapt to market trends, further bolstering its reputation.
As the crypto market evolves, Hyperliquid is poised to capitalize on emerging opportunities, driven by its robust infrastructure and user-focused offerings.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
