Hyperliquid's HYPE surpasses Aave in market cap, claims nearly half of decentralized perpetual swaps volume

Hyperliquid, the decentralized perpetual swap trading platform that recently airdropped 310 million fully unlocked tokens to users who earned points by trading on the platform, has seen its HYPE token surge in price, flipping lending platform Aave in market capitalization. The platform has also risen to claim nearly half of all perpetual swaps trading volume, according to data from The Block.