Crypto Derivatives on Telegram Ads: dYdX, GMX, Hyperliquid, Drift (2026)
How on-chain derivatives platforms — dYdX, GMX, Hyperliquid, Drift, Gains Network — advertise on Telegram. Analysis of 90+ unique creatives.
Crypto Derivatives in Telegram Sponsored Ads#
On-chain derivatives platforms enable leveraged trading of crypto perpetuals without centralized intermediaries. Telegram Ads Spy catalogued 90+ unique creatives from dYdX, GMX, Hyperliquid, Drift Protocol, and Gains Network.
Top Advertisers#
| Platform | Ads | Intensity | Volume Rank |
|---|---|---|---|
| Hyperliquid | ~28 | 9/10 | #1 on-chain perps by volume |
| GMX | ~22 | 8/10 | Arbitrum + Avalanche |
| dYdX | ~18 | 7/10 | dYdX Chain (Cosmos) |
| Drift Protocol | ~14 | 7/10 | Solana perps |
| Gains Network | ~10 | 6/10 | Multi-chain synthetic perps |
Creative Patterns#
Hyperliquid — highest intensity (9/10): «Trade perps with CEX-level speed. No KYC. Your keys.» Zero-commission narrative targeting CEX refugees post-FTX. HYPE token airdrop drove 2024 ad surge.
GMX — yield angle: «Earn 30%+ APY providing liquidity for leveraged traders.» Dual narrative: traders and LPs. GLP/GM pool returns featured prominently.
dYdX — institutional angle: «The decentralized exchange for professional traders. 20x leverage. Deep liquidity.» Migrated to Cosmos app-chain for performance.
Drift — Solana speed: «0.4s finality. Up to 20x leverage. Built for Solana speed.» Performance-first messaging targeting Solana native traders.
Archive Data#
Live data: /api/v1/ads?tag=crypto-derivatives
Market Context#
On-chain perps volume crossed $1T/month for the first time in 2024, driven by Hyperliquid's explosive growth. The HYPE airdrop (November 2024) — worth $15,000+ per eligible wallet — generated the largest single spike in derivatives platform advertising Telegram Ads Spy has recorded.
Geographic Distribution#
English dominates (70%) — serious traders. Korean channels show extremely high derivatives ad density. Southeast Asia (Vietnam, Philippines) has active perps communities. Russia/CIS formerly heavy but reduced post-2022 sanctions.
2025–2026 Trends#
Hyperliquid's HYPE token created a new flywheel: platform revenue funds token buybacks → token price rises → more traders attracted. This «revenue-backed memecoin» narrative appeared in ads. Prediction markets (Polymarket, Kalshi) began advertising alongside perps, blurring the derivatives/speculation category. BTC perps surpassed ETH as most-advertised underlying in 2025.
Source: Telegram Ads Spy Research · 22 April 2026 · CC-BY-4.0.
Related Reports#
Methodology#
Data extracted via gramesh /channels.getSponsored across 9,000+ channels. Classification by domain in ctaUrl with manual review. Counts represent unique creatives deduplicated, not impression counts.
Key Metrics#
Hyperliquid: $1T+ cumulative volume · HYPE airdrop $15,000+ per wallet · #1 on-chain perps GMX: $200B+ lifetime volume · 30%+ annualized GLP/GM yield in 2024
Also available in:
Cite this article
tgadsspy research (2026). Crypto Derivatives on Telegram Ads: dYdX, GMX, Hyperliquid, Drift (2026). tgadsspy.com. Retrieved from https://tgadsspy.com/blog/telegram-ads-crypto-derivatives-2026
Licensed CC-BY-4.0 — reuse allowed including commercial, attribution required.
Related research
#perps →- 2026-04-26
Synthetix in Telegram Ads 2026: DeFi Derivatives Protocol Advertiser Profile
- 2026-04-24
Hyperliquid vs dYdX on Telegram Ads: Perps DEX Advertising Comparison (2026)
- 2026-04-22
Phemex on Telegram Ads: The Trader-First Exchange Targeting Derivatives Power Users
- 2026-04-22
PrimeXBT on Telegram Ads: Crypto Derivatives, Copy Trading, and the Covesting Model
- 2026-04-25
Across Protocol on Telegram Ads: How a Cross-Chain Bridge Leader Advertises in 2026
- 2026-04-25
Aevo on Telegram Ads: How a Leading Options DEX Advertises in 2026