When Grayscale, the "bellwether" of the crypto world, officially speaks out for a decentralized exchange, it signifies that the financial order of the old era is accelerating its collapse.
Global top asset management giant Grayscale has released a deep research report on Hyperliquid. This report not only confirms HL's dominance in the decentralized finance sector but also reveals a terrifying growth curve for this "on-chain Nasdaq" through a set of staggering data.
1. $2.9 Trillion: Not just a figure, but the transition of on-chain financial sovereignty
Grayscale clearly points out in its report that Hyperliquid is reshaping the derivatives market with an overwhelming force:
- Annual trading volume surpasses $2.9 trillion: From early 2025 to May, Hyperliquid's perpetual contract cumulative trading volume has reached $2.9 trillion, becoming the undisputed king of Perp DEX across the entire network.
- Market share dominance: HL accounts for nearly 40% of the total on-chain perpetual contract trading volume. This dominance indicates that it has transformed from an "alternative option" into a "must-have option" for global institutions and whales when trading.
- Record-breaking daily data: Just today, Hyperliquid's daily trading volume hit an astonishing $16.735 billion, with a 24-hour trading volume growth rate of +44%.
2. Capital and whales' "escape pod": Why are large investors flocking to HL?
Why is Grayscale so fond of Hyperliquid? Because in the current complex regulatory and geopolitical environment, HL provides the most scarce financial asset: lightning-fast settlement on native chains.
1. Absolute active buying power: In the past 12 hours, despite the market being in a volatile period, the active buy of HYPE remains robust, with large orders dominating at high levels.
2. Institutional-level risk resistance: Grayscale specifically mentioned the regulatory environment in the United States in the report, but also emphasized HL's unique advantage in decentralized L1 architecture to avoid risks associated with traditional financial intermediaries. For institutions like Grayscale, Hyperliquid, entirely self-researched and not dependent on third-party oracles, is the most solid financial foundation.
3. The valuation logic of HYPE: From "token" to "global settlement layer"
Grayscale's endorsement has entirely lifted the valuation ceiling for HYPE.
- Trading volume equals destruction volume: Behind the $2.9 trillion trading volume is an astronomical amount of platform fees directed towards the AF destruction mechanism.
- Reciprocal movement between spot and prediction markets: The report notes that in addition to perpetual contracts, HL is building a comprehensive on-chain trading empire through the HIP-3 spot agreement and official prediction market (Predictions).
This multi-dimensional cash flow feedback makes HYPE not just a governance token; it resembles the "tax certificate" of the entire on-chain financial empire.
4. Conclusion: Following Grayscale, standing on the right side of history
The release of Grayscale's report often signifies that a project has officially entered the "mainstream vision." The $2.9 trillion annual trading scale is merely a starting point for Hyperliquid. Driven by native on-chain settlement, prediction markets, and spot flywheels, Hyperliquid is becoming the ultimate destination for the on-chain realization of global financial assets.
Operational Guidelines: Partnering with Grayscale, locking in the top ten trading dividends globally
To experience the flagship of on-chain derivatives, which Grayscale calls "annual phenomenon," you only need to join this hundred billion-level clearing network:
1. Rapid onboarding: Use AiCoin to authorize Hyperliquid and experience the millisecond-level matching under a daily trading volume exceeding $16 billion.
2. Activate institutional-level cost moat: During the registration process, enter the exclusive invitation code: AICOIN88 in the Referral option.
3. Lock in 4% permanent fee commission: After successfully binding, during this wealth feast supported by $2.9 trillion in trading volume, you will permanently enjoy a 4% fee commission. Whether it’s large-scale hedging or high-frequency arbitrage, this 4% commission will establish an unshakeable cost moat for you!
Hyperliquid: Breaking traditional thresholds, rapidly allocating core assets
Faced with highly explosive core assets, traditional US brokerage's slow account opening, difficult funding, and limited trading hours often cause investors to miss opportunities. Now, Hyperliquid provides a dimensionality-reducing trading solution for global investors through its innovative on-chain derivatives mechanism.
1. Core US stocks, all in one Thanks to Hyperliquid's powerful HIP-3 mechanism (allowing the community to deploy assets without permission), most core US stocks (such as NVDA, AMD, MU, MSFT, GOOG, AMZN, META, etc.) can now be traded directly on the platform.
2. 24/7 trading Positive news for the AI industry often arrives suddenly. On Hyperliquid, you are no longer limited by US stock opening hours. Whether it's the weekend or late at night, as long as there's a market, you can trade and hedge at any time.
3. Long and short positions for maximum capital efficiency Hyperliquid supports perpetual contract trading, which means you can flexibly use leverage (some assets support up to 50 times). In a determined long-term trend, you can amplify returns through going long; when encountering short-term pullbacks, you can also quickly short to hedge risks.
4. Zero KYC, rapid USDC settlement Say goodbye to cumbersome wire transfers and identity verification. Simply connect your OKX wallet, use USDC to open trading with one click, and all orders achieve sub-second confirmation on-chain.
The wealth password for the next five years is already on the table, and Hyperliquid is your most efficient execution tool. Now register Hyperliquid using the exclusive invitation code AICOIN88 to not only experience seamless on-chain US stock trading but also to enjoy 4% permanent fee commission.
Actual operation is super simple:
Step 1:
Open Hyperliquid BTC/USDC candlestick on AiCoin
Step 2: Find the toolbar, check the lightning order option
Step 3: Directly click the green "buy long" or red "sell short" → instant transaction
Now use AiCoin exclusive invitation code AICOIN88 to register Hyperliquid, and permanently enjoy a 4% fee commission.
https://app.hyperliquid.xyz/join/AICOIN88
📖 Beginner's Guide:
- "AiCoin PC Hyperliquid Authorized Trading Tutorial":
https://www.aicoin.com/zh-Hans/article/514197
- "Zero Basics! Hyperliquid First Trading Super Detailed Text and Image Tutorial":
https://www.aicoin.com/zh-Hans/article/510225
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