Markets· ★★★· neutral·

Ethereum overtakes Bitcoin in open interest on Hyperliquid

  • —ETH open interest on Hyperliquid stands at $3.02 billion versus $2.80 billion for BTC
  • —Total Hyperliquid open interest reached a record $18 billion in late September 2026
  • —The venue accounts for an estimated 8.7% to 10.9% of global perpetual futures open interest
  • —ETH and BTC have traded the top OI spot on Hyperliquid throughout 2026
Why it matters: The flip in open interest signals a rotation in trader positioning toward ETH, though it is a sentiment gauge rather than a directional price signal.
#ETH#BTC
Source: Crypto Briefing
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