DEX，加密貨幣交易和超流利：炒作是什麼？

探索諸如加密貨幣貿易中的超流動性之類的DEX的興起，分析其主導地位，挑戰和Memecoins的影響。權力下放是未來嗎？

DEX, Crypto Trading, and Hyperliquid: What's the Hype?

DEX，加密貨幣交易和超流利：炒作是什麼？

Decentralized exchanges (DEXs) are shaking up the crypto world, and Hyperliquid is leading the charge. Let's dive into the latest trends and see what's driving this evolution.

去中心化交流（DEX）正在搖晃加密貨幣世界，而超流動性正在領導。讓我們深入了解最新趨勢，看看是什麼推動了這一發展。

Hyperliquid: A DEX Powerhouse

超級流動性：DEX強力室

Hyperliquid has emerged as a dominant force in the DEX derivatives market. By 2025, it's projected to command a whopping 60% market share, with daily trading volumes exceeding $4 billion. This growth is fueled by innovative strategies, including aggressive token listings and a user-friendly interface. The launch of their native HYPE token in November 2024 has been a game-changer, boosting trading activity and solidifying Hyperliquid's market leadership.

在DEX衍生品市場中，超流動已經成為主要的力量。到2025年，它預計將達到60％的市場份額，每日交易量超過40億美元。這種增長是由創新的策略推動的，包括積極的令牌清單和用戶友好的界面。 2024年11月，他們的土著炒作令牌的推出已經改變了遊戲規則，促進了交易活動並鞏固了超流動性的市場領導。

DEX vs. CEX: The Decentralization Debate

DEX與CEX：權力下放辯論

The rise of DEXs like Hyperliquid has reignited the debate between decentralized exchanges (DEXs) and centralized exchanges (CEXs). DEXs offer autonomy and transparency, allowing users to control their assets directly. Plus, they enable instant token listings, bypassing the red tape of CEXs. However, DEXs face challenges like limited liquidity and impermanent loss.

諸如Hyproliquid之類的DEX的興起重新點燃了分散的交流（DEX）和集中交流（CEXS）之間的辯論。 DEX提供自主性和透明度，使用戶可以直接控制其資產。另外，它們可以立即列出列表，繞過CEX的繁文tape節。但是，DEX面臨著諸如流動性有限和無常損失之類的挑戰。

CEXs, on the other hand, provide deeper liquidity and intuitive interfaces but come with risks like asset misappropriation and regulatory scrutiny. The future might lie in hybrid models that combine the best of both worlds.

另一方面，CEXS提供了更深的流動性和直觀的界面，但具有資產盜用和監管審查等風險。未來可能在於混合模型，結合了兩全其美。

The Memecoin Mania and DEX Trading

Memecoin Mania和Dex交易

Memecoins have significantly impacted DEX trading volumes. These tokens thrive on platforms like Hyperliquid, attracting speculative traders. However, this also highlights the need for robust risk management to protect traders and maintain market stability. Hyperliquid has even launched a PUMP-USD futures market, capping leverage to manage risk, showcasing their adaptability in this volatile space.

Memecoins嚴重影響了DEX交易量。這些代幣在超級流動等平台上壯成長，吸引了投機性交易者。但是，這也凸顯了對保護交易者並保持市場穩定性的強大風險管理的必要性。 Hyperliquid甚至推出了一個泵入USD期貨市場，限制了管理風險的槓桿作用，展示了它們在這個揮發性空間中的適應性。

Liquidity and Systemic Risks: Challenges for DEXs

流動性和系統性風險：DEX的挑戰

Liquidity remains a critical challenge for DEXs. While platforms like Hyperliquid have made strides, they still lag behind CEXs in liquidity depth. High slippage and impermanent loss can complicate the trading experience, especially for retail investors. Systemic risks, like the JELLY token incident, also pose a threat. Addressing these issues is crucial for the long-term success of DEXs.

流動性仍然是DEX的關鍵挑戰。雖然超級流動等平台取得了長足的進步，但它們仍在流動性深度落後於CEX。高滑倒和無常損失會使交易經驗複雜化，尤其是對於散戶投資者而言。像果凍令牌事件一樣，系統性風險也構成威脅。解決這些問題對於DEX的長期成功至關重要。

NovaEx: A New Player Emphasizing Security

NOVAEX：一個新球員強調安全性

Enter NovaEx, a next-generation cryptocurrency exchange focused on security and reliability. Launching in July 2025, NovaEx aims to provide a secure and deeply liquid platform for both professional and everyday traders. They emphasize fund security, transparent operations, and trading reliability, offering a multi-layered security framework, granular permission control, and deep liquidity.

輸入Novaex，這是一個針對安全性和可靠性的下一代加密貨幣交易所。 Novaex於2025年7月推出，旨在為專業和日常交易者提供安全且深厚的平台。他們強調資金安全性，透明運營和交易可靠性，提供多層安全框架，顆粒狀許可控制和深厚的流動性。

Whales and the PUMP Token: A Risky Game?

鯨魚和泵令牌：冒險遊戲？

Whales on Hyperliquid have already started shorting PUMP, the new token of Pump.fun. Despite the risks, Hyperliquid has become the go-to platform for this activity. The exchange introduced PUMP with hyperps, determining the price based on market incentives. The initial trading period is expected to be highly volatile, so caution is advised!

超流動性上的鯨魚已經開始縮短泵，這是泵的新令牌。儘管有風險，但超流動已成為這項活動的首選平台。該交易所用HyperPS引入了泵，根據市場激勵措施確定了價格。預計最初的交易期將是高度波動的，因此請謹慎行事！

Southeast Asia: A Hotspot for Crypto Adoption

東南亞：採用加密貨幣的熱點

Southeast Asia is emerging as a key region for crypto adoption. DEXs like Hyperliquid are filling the gap by offering high-yield investment opportunities and decentralized trading options. The region's growing engagement with crypto highlights its potential as a major driver of market growth.

東南亞正成為採用加密貨幣的關鍵地區。諸如Hyproliquid之類的DEX通過提供高收益投資機會和分散交易方案來填補空白。該地區與加密貨幣的互動越來越大，這突出了其作為市場增長的主要推動力的潛力。

Final Thoughts

最後的想法

Hyperliquid's rise as a leading DEX underscores the potential of decentralized platforms. By addressing challenges and capitalizing on opportunities, Hyperliquid and other DEXs are shaping the future of crypto trading. So, buckle up and enjoy the ride – it's going to be an interesting one!

超級流動性作為領先的DEX的上升強調了分散平台的潛力。通過應對挑戰並利用機會，超流動和其他DEX正在塑造加密貨幣交易的未來。因此，搭扣並享受旅程 - 這將是一個有趣的人！