Hyperliquid becomes third-largest exchange by open interest, topping $11B
- —Hyperliquid's open interest exceeded $11 billion
- —Hyperliquid ranked third among crypto exchanges by this metric
- —Grayscale analyst Zach Pandl sees the project as a Binance competitor
- —Prediction markets lowered the probability of reaching $100 by the end of 2026
Why it matters: The growth of on-chain derivatives intensifies competition with centralized exchanges and could shift liquidity toward DEXs.
Source: Crypto Briefing