USDC supply grows to 4.9 billion on Hyperliquid as decentralized derivatives trading takes off

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On July 23, according to HT, the supply of USDC on Hyperliquid has grown significantly 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 $15 billion in trading volume in July alone. The platform's trading volume has reached 11.5% of Binance, indicating its rapid growth as a leading on-chain perpetual contract platform.

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