With the rise of decentralized derivatives trading, the supply of USDC on Hyperliquid has grown to 4.9 billion coins

On July 23rd, according to The Block, the supply of USDC on Hyperliquid has significantly increased since the beginning of the year, doubling to 4.9 billion pieces. This expansion reflects the increasing importance of decentralized perpetual contract trading platforms, and USDC is the main settlement currency for derivative trading on this platform. Hyperliquid has strong trading momentum, processing over $150 billion in trading volume in July alone. The platform's trading volume has reached 11.5% of Binance's, indicating its rapid growth into a leading on chain perpetual contract platform.