Market snapshot for Hyperliquid
Decentralized (DEX). Country Cayman Islands. Established 2024. Trust rank 108. Reported 24h volume 989.96 BTC.
Coverage: 61 active pairs across 53 tradable assets. Liquidity profile: High. Concentration: Concentrated. Execution quality: Tight. Top ten pairs share 96.5%. Key pairs include HYPE/USDC, UBTC/USDC, UETH/USDC, USDT0/USDC. Leading pair HYPE/USDC. Median spread on leading markets 0.05%.
Liquidity structure and trading conditions
Volume mix: USDC is the largest tracked quote currency at about 96.8% of measured flow. Data scope: 61 tickers observed, with spread readings on 61 markets. Trust rank is a comparative marker across venues, while 24h BTC volume gives a practical sense of recent turnover. Coverage describes how many active pairs and tradable assets are available, which influences routing options and price discovery. Concentration indicates how much of the venue depends on its leaders versus a wider set of pairs. Median spread summarizes typical distance between bid and ask on the most active books and is a useful proxy for execution friction. Top ten share is very high here, which can make liquidity feel deep on the leaders while thinner elsewhere. Tight spreads on the leaders generally support cleaner fills, especially when depth remains stable. To evaluate fit, use coverage, concentration, spreads, and.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy