Papertrade Draws $118M in 24 Hours With Leverage Up to 1,000x

Papertrade.xyz, a newly launched cryptocurrency trading platform built on Hyperliquid, drew $118 million in 24 hours, according to Bitcoin.com News.

The platform offers leverage of up to 1,000 times a trader’s initial investment. The report linked that feature to an influx of deposits exceeding $100 million.

Papertrade became a subject of discussion in the crypto community over the weekend. Its high leverage allows large positions relative to the funds committed, magnifying exposure to price movements.