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      Hyperliquid Launches Perpetual Futures for Useless Coin with 3x Leverage

      Hyperliquid, a decentralized perpetual futures exchange operating on its own Layer-1 blockchain, has introduced perpetual futures contracts for Useless Coin ($USELESS), allowing for a maximum leverage of 3x. This listing adds to the platform's extensive offerings, which already include over 190 perpetual markets, and highlights the growing interest in meme tokens within the cryptocurrency trading space.

      Useless Coin, which launched on May 10, 2025, is a Solana SPL token that markets itself as having no utility, with no roadmap or partnerships. As of the listing date, the token was priced at $0.30, giving it a fully diluted valuation of approximately $300 million. The conservative leverage cap of 3x reflects the elevated risks associated with trading such a token, especially when compared to the higher leverage options available for more established cryptocurrencies like Bitcoin, which can reach up to 50x on Hyperliquid.

      Prior to its listing on Hyperliquid, Useless Coin derivatives were already available on centralized exchanges such as Binance and Bybit, with aggregate open interest exceeding $100 million across various platforms. The introduction of $USELESS perps on Hyperliquid is part of the platform's strategy to cater to community demand, further solidifying its position as a significant player in the on-chain perpetual futures market. Hyperliquid has processed trillions in transaction volume since its inception in 2023, offering trading speeds comparable to centralized exchanges.

      The availability of perpetual futures for meme coins like $USELESS serves a practical purpose beyond speculation, enabling market makers and liquidity providers to hedge their exposure. The 3x leverage limit is designed to facilitate moderate trading strategies while minimizing the risk of extreme liquidations, contributing to the growing infrastructure surrounding meme tokens in the cryptocurrency ecosystem.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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