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

ChainCatcher news, according to The Block, the supply of USDC on Hyperliquid has seen significant growth since the beginning of the year, doubling to 4.9 billion. This expansion reflects the increasing importance of decentralized perpetual contract trading platforms, with USDC being the primary settlement currency for derivatives trading on the platform.

Hyperliquid's trading momentum is strong, processing over $150 billion in trading volume just in July, with the platform's trading volume reaching 11.5% of Binance, indicating its rapid growth as a leading on-chain perpetual contract platform.