超级流动，在加密货币衍生品交易舞台上迅速发展的竞争者，达到了新的高潮

Hyperliquid（Play）达到了前所未有的地标，在开放兴趣和24小时交易量中都达到了历史最高的（ATH）。这种爆炸性的增长意味着该平台现在处于在全球加密衍生品市场中占据第五个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.

超级流动是加密货币衍生品交易舞台上迅速前进的竞争者，已经达到了前所未有的地标，在开放兴趣和24小时交易量中都达到了历史最高的高度（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.

这种爆炸性的增长意味着该平台现在处于在全球加密衍生品市场中占据第五个插槽的不可能的位置。它读取的唯一名称是四个非常大的加密货币的名称：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.

不仅平台的流行度，而且是通过透明的Web3本地基础架构（一种正在重新定义交易者与数字资产互动的方式）进行交易的开创性方式。

Web3 Transparency Brings New Era of Trust in Trading

Web3透明度带来了交易的新时代

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.

在激增的领域中，超流动性的区别在于它对透明的链活动活动的承诺。它的Web3基础架构允许用户直接观察区块链上的交易行为和位置。交易者可以在建立更明智的交易环境中访问一组统计数据，从自己的交易的行为到大型参与者的行为。

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，这种可见性很少，大部分交易活动都发生在闭门造车后面。通过将数据放在链上，Hyproliquid可以为用户实时，可验证的信息有关发生的事情。显然，这与加密货币社区引起了共鸣，这是我们在所有金融系统中都在增长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.

随着贸易商越来越了解与不清楚平台相关的危险，他们中的许多人现在选择诸如Hyperliquid之类的服务。这些服务提供了权力下放的双重好处，并将可用性与集中式交易所相结合。这样的平台似乎正在快速获得成功，并普及了它所代表的混合方法。

Record-Breaking Trading Activity Marks Key Turning Point

创纪录的交易活动标记关键转折点

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最近达到了新的活动高度，并为开放兴趣和交易量设定了新的历史高（ATH）。开放利息（未偿还衍生合同的总价值）提高到89.2亿美元。同时，该平台在24小时的交易量中获得了令人印象深刻的189.1亿美元。

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.

这些数字不仅意味着仅仅是统计数据。他们表明，对此平台的信任正在增加。它还告诉我们流动性也在增加。如果任何交易所都想认真地将自己定位为市场领导者，这两种事情（信任和流动性）绝对必不可少。

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

在交易衍生产品方面，HyplipiD Hits Heat the@Hyperliquidx已成为加密社区的关键枢纽。它的Web3基础架构允许用户看到与平台上交易直接相关的链链活动。这种透明度 - 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.

现在，超级流动局在全球交流中舒适地坐落在第五位，已经超过了许多竞争对手的时间更长。

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.

这些数字表明，不仅平台在技术上是强大的，而且还实施了强大的营销和社区战略。加密市场远非静态，在这个领域，获胜平台似乎注定是将社区参与与创新变化和逐步改进相结合的平台。

$HYPE Token Gathers Steam Amid Buyback Strategy

$ hype令牌在回购策略中收集蒸汽

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币$ haspe。该令牌最近看到了令人眼花price乱的价格，这似乎取决于Hyplliquid的持续回购。通过从公开市场上购买令牌，该团队不仅对代币的长期价值发表了非常大声的声明，而且显然也有助于减少循环供应。鉴于相同的需求，减少的供应显然应该导致更高的价格。

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.

这种财务奖励与该平台的增长相一致，为早期采用者和忠实用户提供了更多的参与理由。更重要的是，它表明了投资者可以欣赏的财务成熟度和远见，这是一个经常以波动性和不确定性为特征的市场的不错的变化。

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.

用户的采用和记录设定的交易活动增加似乎正在加强平台实用程序与代币价值之间的积极反馈回路。

Conclusion

结论

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的上升绝非正常。通过将区块链的开放度与当代交易平台的平稳性合成，它在加密货币生态系统中提供了一种独一无二的利基市场。随着前所未有的增长，一个嗡嗡的社区和明确的代币经济，超流动不仅是追求该领域的领先者。它正在迅速关闭。

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.

加密货币宇宙中的所有眼睛都在超级流动上，因为它会采取下一步动作。他们可以巩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

这不是交易