The new high surpasses Hyperliquid’s previous February peak, according to the source cited in the post, signaling a larger role for the decentralized derivatives venue in crypto trading.
Hyperliquid, a crypto trading platform focused on perpetual futures (crypto derivatives with no expiry), has reached a new all-time high in futures market share relative to Binance at 16.17%, according to the source cited in the post. The update says this level is above the previous high recorded in February. The data point indicates Hyperliquid is capturing a larger portion of crypto derivatives activity versus Binance, the world’s biggest crypto exchange by trading volume, in a market where futures often account for a substantial share of price discovery and speculative trading.