HYPE breaks through $18, setting a new all-time high

BlockBeats news, on December 12, according to Hyperliquid data, HYPE continued to rise above $18, now at $18.44, up 23.05% in 24 hours, setting a new record high, with a market value of $6.16 billion and a 24-hour trading volume of $234 million.

BlockBeats Note: Hyperliquid is an L1 designed for decentralized derivatives trading. Its mainnet is not yet online, and its vision is to create a decentralized Binance. So far, Hyperliquid has not accepted any investment. The Hyperliquid Foundation stated in the announcement of the Genesis event that "there is no allocation for private investors, centralized trading platforms or market makers in the token distribution." Currently, Hyperliquid's on-chain deposits and withdrawals still need to be bridged through Arbitrum, and more than 60% of the USDC tokens on the Arbitrum chain are held by Hyperliquid addresses. As L1, Hyperliquid's ecosystem is not yet sound. From browsers to DEX, they are all Hyperliquid's self-operated models. All technical innovations and development focuses on improving the performance of decentralized derivatives trading platforms.