High lipids have growth to do before taking on the binance

Hyperliquid, a new crypto exchange specializing in leveraged memo coin trading, has gained market share from established global rivals like Binance. It has attracted the attention of disproportionate media attention, thanks to two specific features: copy trading and leverage trading contests.

At first glance, certain numbers sound impressive. For example, Hyperliquid’s permanent futures trading volume for the past three months Growed 74% Starting from $1.9 billion to $3.3 billion. It’s even better for Binance, a market leader who has grown 42% in the same category over the same period.

Using similar metrics that emphasize percentages rather than absolute amounts, some people have come to view high lipids as legitimate competitors.

However, in close inspections, much larger binance has gained more absolute market share among permanent futures traders. For those three months, Binance was 11 times the profits of $15.9 billion, or Liqued’s $1.4 billion.

Using the right numbers, high liquids can take binance

Most charts showing impressively high lipid growth compared to Binance bring about two basic errors.

First, as mentioned above, these Charts often highlight impressive percentages Not a much more important dollar amount.

Secondly, many creators Betray the chart Until early 2024 – before Hyperliquid announced its airdrops or before operating most of the exchange features associated with comparisons with Binance operations.

For example, one Dune Dashboard sets the start date for three charts by October 2024. Commentarily, all charts begin at least a month ago before Hyperliquid’s hype, which gave the project a first $1 billion valuation and kickstarted its current feature in earnest.

Similarly, someone took advantage of the opportunity to post six impressive charts and went viral on social media. Dishonestly, these charts show that high lipid metrics are rising to the right.

Their creators, of course, produced that trend by setting a start date in May 2024. This was also long before Hyperliquid launched its governance token and its most popular exchange feature.

Read more: Has Binance enabled trade that leveraged Jellyjelly against high lipids?

How high lipids are actually compared to Binance

In reality, high lipids are not close to Binance, based on most metrics. For example, the total users claim less than 410,000 users, and they acknowledge that the active users are a subset of that number. In contrast, Binance claims 250 million registered users.

Hyperliquid defaults to the Statistics Summary website by default from June 14, 2023. This ensures that the activity chart shows right out-of-right growth when someone first visits a web page.

These lines cannot be reduced by definition because total volumes, liquidation, non-hyperliquidity provider volumes, new users, and transactions are also cumulatively displayed.

Still, it is impressive that even a single-digit percentage of crypto exchange volumes in any global category, its high lipids are growing. Since debuting in late November last year, High lipids are currently ranked among the top 20 derivative exchanges in the world.

Comparing the trading activity of the entire derivative, high lipids boast a significant volume. Within the last 24 hours, we have processed $3.4 billion, comparing approximately 6% of our transactions with Binance, compared to $54 billion each.

However, that spot trading activity remains unimportant, at $58 million versus Binance’s $8.9 billion.