Hyperliquid Debuts Unit for On-Chain BTC Trading; HYPE Token Surges Above $28

Hyperliquid, a decentralized exchange (DEX), has launched 'Unit', a decentralized asset tokenization layer that enables users to trade and hold spot Bitcoin (BTC) directly on-chain through a self-custodial BTC/USD spot market.

This integration allows seamless deposits, withdrawals, and trading for major cryptocurrencies, starting with BTC, ETH, and SOL, and offers 10 times lower fees than existing exchanges. Market participants view this development as a significant step toward bridging centralized exchange functionalities with decentralized platforms, with some describing Hyperliquid as an 'on-chain BitMEX' and their favorite Bitcoin Layer 2.

Analysts predict that the addition of spot BTC trading could drive nine figures in fees to Hyperliquid over the next year, potentially positioning it as a formidable competitor to centralized exchanges. HYPE, the native token of Hyperliquid, has surged above $28, outperforming other DeFi tokens and reaching new all-time highs relative to ETH, signaling strong investor confidence and leading a 'DeFi renaissance'.

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