Monero XMR/USDC Perpetual Swaps Unveiled by Hyperliquid

2 mins mins

Key Points:

Hyperliquid launches Monero XMR/USDC perpetual swaps with up to 5x leverage.
Market reaction sees XMR price increase by 6%.
Facilitates price discovery without needing spot access.

On January 15th, Hyperliquid launched Monero (XMR)/USDC perpetual contracts, enabling up to 5x leverage through a permissionless HIP-3 deployment by Felix Protocol.

Monero’s price increased by 6% to approximately $431 with a 13% rise in trading volume post-launch, showcasing renewed interest amid previous exchange delistings.

Hyperliquid Rolls Out Monero Perpetual Contracts with 5x Leverage

Hyperliquid introduced a Monero XMR/USDC perpetual contract to enable perpetual swaps via HIP-3 deployment by Felix Protocol. XBToshi, a prominent Monero community contributor, announced the launch through X, signaling expansion in privacy-centric trading.

This initiative allows traders to engage without requiring spot access, which is crucial following Monero’s delistings from centralized exchanges. The introduction provides leverage up to 5x, potentially enhancing market participation and liquidity.

The market responded quickly, with Monero’s price rising by 6% to approximately $431 and trading volume increasing by 13%. XMR’s price discovery ability is underscored by XBToshi’s assertion that “they cannot block the price discovery.”

“They can block the spot ramps, but they cannot block the price discovery.” — XBToshi, Monero Contributor

Trading Volumes Surge as Monero Gains 6% in Value

Did you know? The perpetual swaps’ impact led to a 13% trading volume increase, similar to prior LIT perpetual performance impacts on Hyperliquid’s platform.

Monero’s current trading data shows a price of $697.06 with a 24-hour volume at $486.19 million, indicating a -1.14% change. The recent rise over 90 days totals 141.61%, as per CoinMarketCap.

monero-daily-chart-12 — Monero(XMR), daily chart, screenshot on CoinMarketCap at 08:57 UTC on January 15, 2026. *Source: CoinMarketCap*

Insights from the Coincu research team highlight potential technological advancements due to the integration of perpetual swaps. These swaps can boost trading activity while promoting enhanced liquidity. Additionally, they could challenge traditional trading barriers by decoupling price discovery from spot markets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.