Hyperliquid up 170% from April lows: Will Bitcoin perps dominance push HYPE to $40?
Hyperliquid (HYPE), a decentralized exchange (DEX) focusing on Bitcoin perpetual swaps (perps), has recently garnered attention in the financial circles after substantive growth in its market share. Bitcoin perps, a type of derivative instrument enjoyed for its simplicity and tied to Funding Rates, have historically been the domain of centralized exchanges (CEXs) like Binance, Bybit, OKX, and Deribit. However, Hyperliquid has made significant inroads into this market, causing a shift towards decentralization.