Vaneck said the massive adoption and use of decentralized derivative exchanges (Hyproliquid) led to a significant increase in hypermobile network revenue in July, which was largely at the expense of Solana.
In July, super liquidity accounted for 35% of all blockchain revenue, of which Grow Vaneck researchers come with special fees for Solana and Ethereum and BNB chains Write In the monthly crypto summary report.
“Hyperliquid is able to capture much of Solana’s momentum and may offer Solana’s market cap, as it provides a simple functional product,” said Vaneck Digital Assets Research, Matthew Sigel and other analysts Patrick Bush and Nathan Frankovitz.
“Hyperliquid has poached high-value users from Solana and retained them.”
Solana in reliability issues and Failed to meet They say Hyproliquid’s production deadlines take advantage of these weaknesses by providing an excellent user experience in derivatives trading.
“Solana has not yet provided meaningful improvements to enhance its user experience, especially in permanent futures (PERP) trading, and super liquidity strengthens better products.”
Overflowing open interest surges
Our network reported in a newsletter seen by Cointelegraph: “Super Mobility is becoming the leading Onchain Perps venue.”
Open interest reached $15.3 billion in July, always up 369%, over $5.1 billion (over $5.1 billion)USDC) Added bridge.
Phantom Wallet Integration provides in-app PERP, driving $2.66 billion in quantity, $1.3 million in fees, and 20,900 new users in July.
Related: Super fluent reimbursement repays $2 million to cryptocurrency traders after API interruption
Crypto-permanent futures are derivative contracts that make traders speculate that cryptocurrency prices have no expiration date.
Hype prices hit record highs in July
The local token of the platform (Hype) Recently, there was also a gathering High history $49.75 on July 14, the low in early April exceeded $10.
In contrast, Solana’s local token (solIt has lost 44% since its all-time high since January, which is mainly driven by Memecoin Frenzy.
On the same day, hype fell 3% in the broader market retreat at the time of writing to a price of $37.38.
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