With the Rise of Decentralized Derivatives Trading, USDC Supply on Hyperliquid Grows to 4.9 Billion

According to ChainCatcher, citing The Block, the supply of USDC on Hyperliquid has grown significantly since the beginning of the year, doubling to 4.9 billion tokens. This expansion reflects the rising importance of decentralized perpetual contract trading platforms, with USDC serving as the primary settlement currency for derivatives trading on the platform.

Hyperliquid has demonstrated strong trading momentum, processing over $150 billion in trading volume in July alone. The platform’s trading volume has reached 11.5% of a certain exchange, indicating its rapid emergence as a leading on-chain perpetual contract platform.