HYPE reached $25, continuing to set a new historical high

On December 15, according to Hyperliquid data, HYPE continued its upward trend touching $25, with a 24-hour increase of 7.87%, setting a new historical high. The market value is temporarily reported at $8 billion, and the 24-hour trading volume reached $395 million.

Note: Hyperliquid is an L1 designed specifically for decentralized derivative trading. Its mainnet has not yet been launched and its vision is to create a decentralized Binance. So far, Hyperliquid has not accepted any investments. The Hyperliquid Foundation stated in the announcement of the Genesis event that "there are no token allocations for private investors, centralized exchanges or market makers." Currently, on-chain deposits and withdrawals from Hyperliquid still need to be bridged through Arbitrum; over 60% of USDC tokens on the Arbitrum chain belong to Hyperliquid addresses. As an L1, the ecosystem of Hyperliquid is not yet mature; everything from browsers to DEXs operates under the self-operated model by Hyperliquid where all technological innovations and development focus revolve around improving performance of decentralized derivative trading platforms.