Key Notes

Hyperliquid recorded an 843% increase in perpetual trading activity amid high leverage bets from traders.

Judging by these records, it is clear that Hyperliquid is encroaching on Binance's market dominance.

However, HYPE price does not reflect this positive sentiment with its current bearish outlook.

Top perpetual futures trading platform Hyperliquid (HYPE) is on its way to challenge the dominance of Binance in the trading volume metric. In May, Hyperliquid facilitated more than $248 billion in perpetual trading activity, marking a new all-time high (ATH) in monthly futures volume.

Hyperliquid Records 843% YoY Increase in Perp Volume

According to a report from The Block , the recorded volume represented a 51.5% month-over-month increase compared to the $187.5 billion volu

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