# Hyperliquid Became One of the Major Players in the Crypto Market

Hyperliquid is considered one of the most active platforms in the crypto market today. The project was created by a small team, yet its trading volume already reaches trillions of dollars.

Hyperliquid is a decentralized crypto exchange primarily focused on futures trading. The project began in 2020, and following the FTX collapse in 2022, its founders came up with the idea to create a more transparent and user-oriented platform. Hyperliquid did not seek venture financing for development and continued its growth through its own resources.

The platform's popularity increased due to low commissions, a wide selection of assets, and high-risk trading opportunities. Since 2023, Hyperliquid has attracted over 1.2 million users. Its token, HYPE, has ranked among the largest cryptocurrencies by market capitalization. A significant role in this growth was played by the 1.6 billion dollars' worth of tokens distributed to users in November 2024.

Today, Hyperliquid no longer offers users only cryptocurrency trading. The platform has introduced prediction markets and assets that allow traders to trade futures on oil or instruments related to shares of companies not yet listed on exchanges, including SpaceX and OpenAI.

Despite its success, the platform carries risks. Hyperliquid has attracted attention from both hackers and regulators. The United Kingdom's financial supervisory authority warned about the platform due to its lack of appropriate licensing.

Source: Yahoo Finance