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Cryptocurrency News Articles

Hyperliquid Integrates Router Protocol's Nitro Bridge to Enable Direct Deposits From Over 30 EVM and Non-EVM Chains

Jan 07, 2025 at 02:06 am

The integration eliminates a previous two-step process that required traders to bridge funds through Arbitrum before accessing Hyperliquid.

Hyperliquid Integrates Router Protocol's Nitro Bridge to Enable Direct Deposits From Over 30 EVM and Non-EVM Chains

Hyperliquid, a layer 1 blockchain and decentralized exchange, has integrated Router Protocol’s Nitro bridge to enable direct deposits from more than 30 EVM and non-EVM chains, including Ethereum, Solana, Sui, Tron, and Base.

The integration comes as Hyperliquid has seen substantial growth in the past six months, attracting over $1 billion in net stablecoin inflows and reaching $3 billion in total value locked. Its deposit bridge currently holds more than $2 billion in stablecoins, according to Hashed’s Dune dashboard.

The platform also recently launched native staking, with $8.4 billion worth of HYPE tokens staked at launch and an additional 7 million tokens staked within the first hour. At press time, more than 406 million tokens, valued at over $10 billion, are now staked, according to Hyperliquid staking data.

HYPE, Hyperliquid’s native token, is trading at $25.5 with an $8.5 billion market cap and a $25.5 billion fully diluted valuation. The token gained 3% in the past 24 hours as Bitcoin crossed the $100,000 mark.

The DEX also has support from other bridges, including Synapse Protocol and DeBridge, which provides additional routes for direct asset transfers to Hyperliquid.

News source:cryptobriefing.com

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Other articles published on Jan 08, 2025