#hyperliquid

#hyperliquid

With Coinbase, in its role as treasury deployer, sharing the vast majority of reserve yield revenue with the protocol, USDC will become the most aligned stablecoin on Hyperliquid. USDC has been Hyperliquid's dominant collateral since the platform launched in 2023. Supply on the network has grown to roughly $5 billion, about double what it was a year ago, making Hyperliquid one of the most concentrated environments for on-chain dollar usage in derivatives trading.

A new wave of DEX wars has shifted from token incentives to a focus on speed, leverage and sustainable infrastructure. Hyperliquid continues to lead the market with over $300 billion in monthly volume, strong liquidity and rising institutional adoption. Aster's growth is powered by airdrops, Binance-backed credibility and leverage that attract professional traders. Lighter is gaining momentum through its Ethereum layer-2 speed, zero-fee trading model and exclusive points-based yield farming system.