Why HyENA is gaining traction in the trading space right now

HyENA is built by BasedOneX, creators behind the largest Hyperliquid application by revenue—a team with serious backing from both the Ethena Foundation and Hashed. That pedigree matters when you're evaluating where to trade.

The numbers tell an interesting story for an early-stage platform. We're talking $50M in open interest and $845B+ in trading volume over the last 30 days. Those aren't trivial metrics. For something still finding its footing, that's substantial momentum in a competitive market.

The infrastructure piece is worth watching too. The technical foundation they've chosen shapes everything from execution speed to user experience. That's the kind of detail that separates platforms that stick around from ones that fade.