HyperLiquid, an on-chain perpetuals trading protocol, has seen a surge in activity in ether (ETH) compared to bitcoin (BTC). The platform has recorded a cumulative perpetuals volume of over $500 billion, marking a 15-fold increase this year. In the past seven days alone, the platform has seen an average daily volume of over $5 billion, accounting for 45% of the total on-chain perpetuals market activity in the past 24 hours. Ether perpetuals have registered a trading volume of $7 billion since Monday, surpassing bitcoin's tally of $5.94 billion. This increased activity in ether on HyperLiquid could contribute to the cryptocurrency's further growth. Additionally, HyperLiquid's HYPE token has surged over 300% since its launch and is now valued at $5.69 billion. The sustained bullish move following the record airdrop is a sign of investor confidence. HYPE is used for staking and acts as a gas token on the platform.



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