超級流動，在加密貨幣衍生品交易舞台上迅速發展的競爭者，達到了新的高潮

Hyperliquid（Play）達到了前所未有的地標，在開放興趣和24小時交易量中都達到了歷史最高的（ATH）。這種爆炸性的增長意味著該平台現在處於在全球加密衍生品市場中佔據第五個插槽的不可能的位置。

Hyperliquid, the swiftly advancing contender in the arena of cryptocurrency derivative trading, has hit an unprecedented landmark, achieving an all-time high (ATH) in both open interest and 24-hour trading volume.

超級流動是加密貨幣衍生品交易舞台上迅速前進的競爭者，已經達到了前所未有的地標，在開放興趣和24小時交易量中都達到了歷史最高的高度（ATH）。

This explosive growth means that the platform now finds itself in the unlikely position of occupying the fifth slot in the global crypto derivatives market. The only names it trails are those of four very large cryptocurrencies: Binance, Bitget, Bybit, and OKX.

這種爆炸性的增長意味著該平台現在處於在全球加密衍生品市場中佔據第五個插槽的不可能的位置。它讀取的唯一名稱是四個非常大的加密貨幣的名稱：binance，bitget，bybit和okx。

Not just the platform’s surging popularity but also its groundbreaking way of trading through a transparent, Web3-native infrastructure—one that is redefining how traders interact with digital assets—is what this achievement reflects.

不僅平台的流行度，而且是通過透明的Web3本地基礎架構（一種正在重新定義交易者與數字資產互動的方式）進行交易的開創性方式。

Web3 Transparency Brings New Era of Trust in Trading

Web3透明度帶來了交易的新時代

What distinguishes Hyperliquid in a surging field is its commitment to transparent on-chain activity. Its Web3 infrastructure allows users to directly observe trading behavior and positions on the blockchain. And traders can access a whole set of stats—from the behavior of their own trades to those of large players—in building a more informed trading environment.

在激增的領域中，超流動性的區別在於它對透明的鏈活動活動的承諾。它的Web3基礎架構允許用戶直接觀察區塊鏈上的交易行為和位置。交易者可以在建立更明智的交易環境中訪問一組統計數據，從自己的交易的行為到大型參與者的行為。

A kind of visibility that is rare among centralized exchanges, where most of the trading activity occurs behind closed doors. By putting data on-chain, Hyperliquid gives users real-time, verifiable information about what’s going on. This is clearly striking a chord with the crypto community and is part of the transparency demand that we see growing in all financial systems.

在集中式交流中，這種可見性很少，大部分交易活動都發生在閉門造車後面。通過將數據放在鏈上，Hyproliquid可以為用戶實時，可驗證的信息有關發生的事情。顯然，這與加密貨幣社區引起了共鳴，這是我們在所有金融系統中都在增長的透明需求的一部分。

As traders grow more aware of the dangers linked to unclear platforms, a good number of them are now opting for services like Hyperliquid. These services provide the twin benefits of decentralization and combined usability with that of centralized exchanges. Such a platform seems to be on the fast track for success and to popularize the hybrid approach it represents.

隨著貿易商越來越了解與不清楚平台相關的危險，他們中的許多人現在選擇諸如Hyperliquid之類的服務。這些服務提供了權力下放的雙重好處，並將可用性與集中式交易所相結合。這樣的平台似乎正在快速獲得成功，並普及了它所代表的混合方法。

Record-Breaking Trading Activity Marks Key Turning Point

創紀錄的交易活動標記關鍵轉折點

Hyperliquid recently reached new heights of activity and set a new all-time high (ATH) for both open interest and trading volume. Open interest—the total value of outstanding derivative contracts—soared to $8.92 billion. At the same time, the platform enjoyed an impressive $18.91 billion in 24-hour trading volume.

Hyperliquid最近達到了新的活動高度，並為開放興趣和交易量設定了新的歷史高（ATH）。開放利息（未償還衍生合同的總價值）提高到89.2億美元。同時，該平台在24小時的交易量中獲得了令人印象深刻的189.1億美元。

These numbers mean more than simply being statistics. They indicate that trust in this platform is increasing. It also tells us that liquidity is on the rise, too. And both of these things—trust and liquidity—are absolutely essential if any exchange wants to seriously position itself as a market leader.

這些數字不僅意味著僅僅是統計數據。他們表明，對此平台的信任正在增加。它還告訴我們流動性也在增加。如果任何交易所都想認真地將自己定位為市場領導者，這兩種事情（信任和流動性）絕對必不可少。

Hyperliquid Hits New ATH@HyperliquidX has become a key hub for the crypto community when it comes to trading derivatives. Its Web3 infrastructure allows users to see on-chain activity directly tied to trading on the platform. This transparency — such as the ability to view the… https://t.co/R8fH3qM8Ac

在交易衍生產品方面，HyplipiD Hits Heat the@Hyperliquidx已成為加密社區的關鍵樞紐。它的Web3基礎架構允許用戶看到與平台上交易直接相關的鍊鍊活動。這種透明度 - 例如查看…https：//t.co/r8fh3qm8ac的能力

— CryptoRank.io (@CryptoRank_io) May 23, 2025

- cryptorank.io（@cryptorank_io）2025年5月23日

Hyperliquid now sits comfortably in the fifth position among exchanges globally, having surpassed many competitors that have been around far longer.

現在，超級流動局在全球交流中舒適地坐落在第五位，已經超過了許多競爭對手的時間更長。

These figures indicate that not only is the platform technologically strong, but it has also implemented a robust marketing and community strategy. The crypto market is far from static, and in this space, the winning platforms seem destined to be the ones that combine community engagement with innovative changes and incremental improvements.

這些數字表明，不僅平台在技術上是強大的，而且還實施了強大的營銷和社區戰略。加密市場遠非靜態，在這個領域，獲勝平台似乎注定是將社區參與與創新變化和逐步改進相結合的平台。

$HYPE Token Gathers Steam Amid Buyback Strategy

$ hype令牌在回購策略中收集蒸汽

Adding even more boosters to the platform’s march skyward is its homegrown token, $HYPE. The token has seen dazzling price action of late, and this appears largely down to Hyperliquid’s very ongoing buyback. By purchasing tokens from the open market, the team is not only making a very loud statement about the long-term value of the token but is also quite obviously helping to reduce the circulating supply. And that reduced supply, given the same sort of demand, should quite obviously lead to a higher price.

在平台的March Skyward中增加更多的助推器是其本土代幣$ haspe。該令牌最近看到了令人眼花price亂的價格，這似乎取決於Hyplliquid的持續回購。通過從公開市場上購買令牌，該團隊不僅對代幣的長期價值發表了非常大聲的聲明，而且顯然也有助於減少循環供應。鑑於相同的需求，減少的供應顯然應該導致更高的價格。

This financial reward is congruent with the platform’s growth, providing both early adopters and loyal users with more reasons to stay engaged. What’s more, it evinces a level of financial maturity and foresight that investors can appreciate — and that’s a nice change in a market often characterized by volatility and uncertainty.

這種財務獎勵與該平台的增長相一致，為早期採用者和忠實用戶提供了更多的參與理由。更重要的是，它表明了投資者可以欣賞的財務成熟度和遠見，這是一個經常以波動性和不確定性為特徵的市場的不錯的變化。

The increasing user adoption and record-setting trading activity seem to be strengthening the positive feedback loop between the utility of the platform and the value of the token.

用戶的採用和記錄設定的交易活動增加似乎正在加強平台實用程序與代幣價值之間的積極反饋迴路。

Conclusion

結論

Hyperliquid’s ascent has been anything but normal. By synthesizing blockchain openness with the smoothness of contemporary trading platforms, it has hewn out a one-of-a-kind niche in the cryptocurrency ecosystem. With unprecedented growth, a buzzing community, and a clear token economy, Hyperliquid is not merely in pursuit of the field’s front-runners; it is rapidly closing in on them.

Hyperliquid的上升絕非正常。通過將區塊鏈的開放度與當代交易平台的平穩性合成，它在加密貨幣生態系統中提供了一種獨一無二的利基市場。隨著前所未有的增長，一個嗡嗡的社區和明確的代幣經濟，超流動不僅是追求該領域的領先者。它正在迅速關閉。

All eyes in the crypto universe are on Hyperliquid as it makes its next moves. They could cement its status as a solid fifth or take it even higher in the global rankings.

加密貨幣宇宙中的所有眼睛都在超級流動上，因為它會採取下一步動作。他們可以鞏固自己的五分之一的地位，或者在全球排名中提高它。

This is not trading

這不是交易