In the fast-paced world of decentralized finance (DeFi), where meme tokens often steal the spotlight, a recent tweet from crypto enthusiast Moaru (@moaruxyz) has caught the community's attention. Without much fanfare, Project X has claimed the top spot in transaction volume on the Hyperliquid chain—excluding the hype around the chain's native projects. This milestone isn't just a number; it signals growing adoption and potential for meme token traders looking for low-cost, high-speed swaps.

The Tweet That Sparked the Buzz

Moaru's post highlights a screenshot of DEX volume rankings over 24 hours, 7 days, and 30 days on what appears to be the "1chain" ecosystem, likely referring to Hyperliquid's infrastructure. At the top sits Hyperliquid itself with a whopping $388.74 million in 24-hour volume, but right below it is Project X at $101.58 million. Moaru points out: "Without you realizing it, Project X has taken first place (excluding Hype) with the highest transaction volume among all its competitors. High volume = High Fees @prjx_hl."

This comes on the heels of a quoted tweet from the day before, celebrating new all-time highs (ATHs) for Bitcoin, Project X on Hyperliquid (@prjx_hl), and the poster's personal holdings. It teases "Phase 3 is closer than you think," hinting at upcoming developments that could further boost the platform.

The replies are filled with enthusiasm—short shouts like "Prjx," "🙏," and "Prjx is cooking 🔥"—showing community support and hype building around the project.

What Is Project X?

For those new to the scene, Project X is a decentralized exchange (DEX) built on Hyperliquid's HyperEVM, a high-performance layer-1 blockchain designed for finance. Think of it as a Uniswap-style automated market maker (AMM) but optimized for speed and zero fees. Launched to make DeFi more accessible, it allows users to trade any crypto coin seamlessly, bridge assets from chains like Ethereum, Arbitrum, and Base, and even earn points toward a potential PRJX airdrop.

According to sources like DefiLlama, Project X tracks key metrics such as total value locked (TVL), fees, and inflows, positioning it as a go-to spot for traders. Its integration with tools like LI.FI for smooth bridging has made it easier for meme token enthusiasts to move assets and capitalize on viral trends without hefty costs.

Why This Matters for Meme Tokens

Meme tokens thrive on volume and virality, and Project X's rise couldn't come at a better time. High transaction volumes mean more liquidity, which translates to better prices and faster trades—crucial for jumping on the next big meme like Dogecoin or newer entrants. By excluding "Hype" (likely shorthand for Hyperliquid's own volume), the tweet underscores Project X's organic growth among competitors like HyperSwap, Hydra, and others.

This surge could attract more developers and traders to Hyperliquid, fostering a richer ecosystem for meme tokens. With zero fees, it's a dream for degens flipping tokens during pumps, and the points system rewards active participation, potentially leading to a lucrative airdrop. As Moaru notes, high volume equals high fees for the protocol, which could fund further innovations.

Looking Ahead: Phase 3 and Beyond

The teased "Phase 3" in the quoted tweet suggests expansions, perhaps new features or token launches that could supercharge meme token activity. For blockchain practitioners diving into meme tokens, keeping an eye on Project X via its official site or X account is a smart move. Whether you're a seasoned trader or just starting, this development highlights how DeFi platforms like Project X are democratizing access to high-volume trading.

In a space where memes can make or break fortunes, Project X's quiet dominance is a reminder: sometimes the biggest wins come from under-the-radar moves. Stay tuned for more updates on meme-insider.com as we track the latest in meme token tech and trends.