As Hyperliquid’s metrics continue to reach all-time highs, ecosystem spot trading is beginning to catch up with the world’s top centralized exchange, leading to the tokenization layer unit.
Over the past 24 hours, over $1.1 billion in UETH and $950 million in UBTC have been traded at high lipids, with unit assets totaling $2.49 billion in trade. This happens shortly after the unit processes $3.2 billion, a record high of 24-hour volume.
High lipid spot volume – High lipid
The unit took X to share the milestone, but revealed that it was unaware of the wallet operator’s identity. “To be 100% clear, users are unknown to us. We independently decided that this is the best decentralized venue for them to trade. …This is a combination of Coinbase and Bibit BTC spot volumes, which is close to the equivalent of BTC/USDT’s BTC/USDT,” the unit said.
The unit used 100% of the fees generated to buy the hype token, and yesterday evening, the protocol generated $1.88 million for hype buybacks over 24 hours.
The tokenization layer is fuelled by activity in both the hypercore and hypereleven by promoting assets available in the defi ecosystem of the Layer 1 network. Protocols such as Onchain Hedge Fund Liminal and Automated Market Maker Project X are approaching a $100 million total lock (TVL) threshold driven by unit assets such as UETH and UBTC.
“This massive whale trade opens amazing trading opportunities for both retailers and refined (market makers). At various times during this period, prices were +/- 1%.
“Volatility gave users the opportunity to arbitrate prices against other spot venues and PERPs, which was quite a number.
