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Why has Hyperliquid, with so many giant whales, become the new favorite among contract players?

Reveal how Hyperliquid attracts giant whales with 50x leverage and zero gas fees. Its on-chain transaction volume crushes its peers, and even novices can make profits by following orders. Attached is the official secure registration channel.

Why has Hyperliquid, with so many giant whales, become the new favorite among contract players?

A paradise for high risk traders? Why do whales choose to place orders on Hyperliquid?

Recently, there is a name that is becoming more and more popular in the contract circle - Hyperliquid. This thing is a decentralized derivatives platform. With 50 times leverage, zero gas fees and transparent order books on the entire chain, it has become the "new favorite" of high-risk players and giant whales.

You must have heard the rumors: whenever there is a disturbance in the market, such as a sudden announcement of a policy, giant whales will open long and short orders on Hyperliquid, netting millions of dollars in a few minutes. Low cost, high leverage, and when the market fluctuates violently, it is simply tailor-made for the old leek who pursues ultimate returns.

So, what exactly is Hyperliquid? Why can it attract so many giant whales and be called "Binance on the chain"? Today, let’s take off its underwear and have a good chat.

Hyperliquid’s dominance: the data doesn’t lie

In the field of DeFi derivatives, you can count on one hand the protocols that can take over most of the on-chain perpetual contract market, and Hyperliquid is one of them.

Look at the data: within 24 hours, the total trading volume of perpetual contracts on the chain was 14.37 billion US dollars, and Hyperliquid alone did 9.3 billion, accounting for 64.71%. No one else has this kind of dominance.

It has even changed the landscape of DEX and CEX. Take Binance as an example. Its 24-hour perpetual contract trading volume is approximately US$97.22 billion, while the entire DEX field is only US$14.637 billion, of which Hyperliquid contributed US$9.532 billion.

Simple calculation:

  • With the support of Hyperliquid, DEX perpetual contract trading volume can account for 15% of Binance.
  • Don’t have it? This ratio drops directly to 5%.

This is not a numbers game, it fulfills the core promise of Hyperliquid: ** giving you a CEX-level silky smooth experience on a completely decentralized Layer-1. **

Hyperliquid’s core product matrix: more than just playing with contracts

Hyperliquid is not a stand-alone contract platform, it is developing a complete trading ecosystem.

1. Perpetual Contract DEX: Special Skills

This is where Hyperliquid started, using a fully on-chain central limit order book (CLOB) to support high leverage on multiple assets:

  • BTC, ETH: up to 50x leverage
  • SOL, SUI, XRP these: up to 20x leverage
  • Small cap tokens: up to 3x leverage

Technical features directly hit the pain points of traders:

  • Sub-second transaction confirmation
  • Processing over 100,000 orders per second
  • No Gas Fee Order Cancellation (Except Executing Transactions)

The experience is comparable to top CEX. Up to now, Hyperliquid’s perpetual contract trading volume has been nearly 7 times that of the second platform, accounting for 66% of the total trading volume of the top 15 perpetual DEXs.

2. Spot exchange: The rise of dark horse

It will be launched in mid-2024 and will focus on platform coins and Memecoin at the beginning. The turning point came in February 2025, when Hyperliquid officially launched BTC spot trading.

What does this mean? You can seamlessly manage spot assets and leveraged contract positions on the same platform, truly realizing "one-stop" on-chain trading. Analysts predict that spot trading volume is expected to reach 20%-30% of the perpetual contract, bringing an incremental market worth billions of dollars. **Spot support for mainstream assets such as ETH and SOL is also on the way. **

3. Hyperliquid HLP: Make money by being a “banker”

If you don't want to fight in person, but want to get a share of the market, HLP (Liquidity Vault) is for you.

  • Principle: Deposit USDC and act as the counterparty (liquidity provider) of the platform traders.
  • Profit: Share from traders' profits and losses. To put it bluntly, it is the logic of "the platform will always make money". At the end of 2024, the annualized income once reached 54%.

4. Vaults: Novices can also follow giant whales

Don’t know the strategy? fine. Hyperliquid's Vaults (copy trading) function allows you to put money into proven professional traders' strategies, automatically copy orders, and share profits. Ordinary users can also use the brains of "giant whales" to make money.

5. Innovation Token Standard: HIP-1 & HIP-2

This gives the Hyperliquid ecosystem strong composability. Project parties can issue coins directly on Hyperliquid L1 (HIP-1), immediately obtain liquidity (HIP-2) supported by the team's professional market makers, and seamlessly access the spot and contract markets.

Technical core: Why is it so fast?

Behind all the awesome experiences is the underlying public chain developed by Hyperliquid - Hyperliquid Layer 1.

  • HyperBFT Consensus: Optimized for high-frequency transactions, achieving sub-second latency and a processing capacity of over 200,000 transactions per second.
  • HyperEVM: Mainnet will be launched in February 2025. This means that while Hyperliquid has a high-performance native trading engine, it is also compatible with the Ethereum Virtual Machine (EVM) and can host a wider DeFi application ecosystem.
  • Completely on-chain CLOB: All order matching is open and transparent on the chain, eliminating the "black-box operation" and front-running problems that may exist in centralized platforms.

Hyperliquid vs. other platforms: What are the advantages?

| Comparison Dimensions | Hyperliquid | Traditional DEX (such as dYdX v3, GMX) | Centralized Exchange (CEX) | | :--- | :--- | :--- | :--- | | Order Book | Completely on-chain CLOB, transparent | Multi-purpose AMM or partial off-chain, with slippage or opacity | Off-chain black box, opaque | | Performance | Sub-second confirmation, 100,000+ TPS | Limited by the underlying public chain (such as Arbitrum), slow speed | Extremely fast, but dependent on centralized servers | | Fees | No Gas fees for transactions | Network Gas fees are required | No Gas fees, but there are withdrawal fees, etc. | | Asset Control | Self-custody, the private key is the asset | Self-custody | Custody, there is a risk of assets running away from the platform | | Leverage | High (up to 50x) | Medium | High | | Entry threshold | Low (no KYC required) | Low (no KYC required) | KYC certification required |

Simple summary: Hyperliquid crushes CEX in transparency and asset security, and beats most traditional DEX in transaction speed and experience, and has found a perfect balance point.

Community and Token Economy: User-oriented

Hyperliquid’s success is inseparable from its “community first” approach:

  1. VC-free model: The team raises funds for development, which avoids the tokens being heavily diluted by early venture capital, and the interests are more tied to real users.
  2. Generous Airdrop: 31% of the token supply is directly airdropped to early users, which is real money given back to the community.
  3. Assistance Fund (AF): Part of the platform transaction fees will be used to continuously repurchase HYPE tokens in the market, forming a virtuous cycle of "increasing transaction volume → increased repurchase → token value support".

What does it mean for the average trader?

Whether you are a newbie or a veteran, Hyperliquid has value:

  • For newbies/newbies: No KYC is required, you can register with your email or wallet. The interface is friendly, similar to Binance, and the learning cost is low. You can follow orders through Vaults, and the threshold for participation is low.
  • For active traders: Enjoy zero gas fees for placing orders, high leverage and a smooth experience comparable to CEX. At the same time, you can fully control your assets and sleep more peacefully.
  • For prudent investors: You can deposit into the HLP vault, earn passive income as a liquidity provider, and share platform growth dividends.

🔥 How to safely start using Hyperliquid?

Seeing this, if you are interested in Hyperliquid, be sure to register through official official channels. Don’t slip into a fishing website and lose your assets.

As a professional cryptocurrency service platform, we CoinRebate provide you with Hyperliquid's official cooperation registration channel. Register through our link and you can get exclusive benefits:

Platform name: Hyperliquid (DEX) Exclusive referral code: LULALA Official registration link: https://app.hyperliquid.xyz/join/LULALA Exclusive benefits: Points Boost (increases the efficiency of points acquisition, related to potential future rewards)

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Safety Tips: When tossing around DeFi and contract trading, remember these:

  1. Only use the spare money you can afford to lose in high-risk investments, don’t go all in.
  2. Leverage is a double-edged sword. It can make you rich, but it can also make you liquidate your position instantly.
  3. Keep your private key and mnemonic phrase safe and don’t tell anyone even if you kill yourself.
  4. For new traders, it is strongly recommended to test the waters with small amounts and low leverage first, find out the ropes, and then increase your chips.

Written at the end: Is the future "Binance on the chain"?

From focusing on perpetual contract DEX, to integrating spot trading, to launching HyperEVM to embrace the entire ecosystem, Hyperliquid’s ambition is clear – to be the Binance of the world on the blockchain.

It successfully combines CeFi-level performance with the transparent, self-hosted advantages of DeFi. In the shadow of the thunderstorms of centralized institutions such as FTX, this model of "my assets are my own" and the experience is not embarrassing, is attracting more and more high-end players.

The rise of Hyperliquid tells us that the future trading battlefield may indeed migrate irreversibly to the chain. Do you choose to continue trusting the convenience of centralized custody, or start to try to take control of the assets yourself?

(No matter which path you choose, remember: Safety first, invest rationally. Welcome to follow CoinRebate for more in-depth tutorials and discount information on regular exchanges.)

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