超流利的TVL攀登了十亿

Hyperliquid的TVL最近飙升至5.36亿美元，标志着历史悠久的高潮。该协议从2024年第四季度接近零，目睹了抛物线词的上升

Hyperliquid, a leading decentralized perpetual exchange, has crossed the half-billion dollar mark in Total Value Locked (TVL), reaching a new all-time high of $536 million.

超级流动性是一种分散的永久性交易所，已经超过了总价值锁定（TVL）的五亿美元，达到了历史新高的5.36亿美元。

This milestone comes just six months after its launch with nearly zero TVL in Q4 2024, quickly making it one of the largest perpetual DEXs.

这一里程碑是在2024年第四季度启动近六个月的六个月之后才出现的，很快就成为了最大的永久DEX之一。

According to DeFiLlama, early April saw fresh outflows push TVL past the $500 million mark. This stands in stark contrast to the stagnant TVL trends observed in legacy DEXs such as dYdX and GMX.

根据Defillama的说法，4月初，新鲜流出将TVL推高了5亿美元的大关。这与在诸如dydx和gmx等传统dex中观察到的停滞的TVL趋势形成了鲜明的对比。

The surge can be attributed to increasing user preference for Hyperliquid’s superior speed, intuitive user interface, and innovative EVM expansion.

激增可以归因于用户对超流动液的卓越速度，直观用户界面和创新EVM扩展的偏好。

According to the data, key inflection points in market share gains occurred during the December-January rally and another surge in March-April 2025, both coinciding with increased user activity and trading volume.

根据数据，市场份额收益的关键拐点发生在12月至1月的集会期间，而2025年3月至4月的又一次激增，都与用户活动和交易量的增加相吻合。

This growth is not a temporary spike but rather a testament to consistent, organic momentum, showcasing strong user retention and product reliability.

这种增长不是暂时的尖峰，而是证明一致，有机动量的证明，展示了强大的用户保留和产品可靠性。

While many DEXs experience brief spikes in trading volume, Hyperliquid has demonstrated steady month-over-month market share expansion, highlighting its increasing appeal as a sustainable alternative to CEXs within the perpetual trading landscape.

尽管许多DEX在交易量中经历了简短的峰值，但Hyproliquid表现出稳定的月份市场份额的稳定，强调了其在永久交易环境中CEXS的可持续替代品的吸引力越来越高。

This places Hyperliquid among major players like Bybit and OKX, marking a significant shift as users gravitate towards a decentralized and more efficient alternative to centralized exchanges.

这将诸如Bybit和OKX等主要参与者的超流动性置于了诸如用户倾向于分散和更有效的集中交易替代方案时的重大转变。

One major factor behind this growth is its exceptionally fast EVM expansion, recognized as the fastest-growing EVM in the market.

这种增长的主要因素之一是其异常快速的EVM扩展，被认为是市场上增长最快的EVM。

Another key strength is Hyperliquid’s dedicated base of only 100K holders, known for their strong loyalty and minimal dilution, creating a robust foundation that supports sustainable and organic growth, which is rare among protocols.

另一个关键优势是Hyproliquid仅由100K持有人组成的专门基础，以其强烈的忠诚度和最小的稀释效果而闻名，创造了一个强大的基础，支持可持续和有机增长，这在协议中很少见。