Analyst Shaunda Devens reports Hyperliquid leads the market in BTC and silver liquidity near mid-price, reflecting strong market depth over Binance.
On January 29, Blockworks analyst Shaunda Devens stated that Hyperliquid achieved the deepest top-level liquidity in crypto trading. At ±1 basis point from mid-price, Hyperliquid’s BTC order book depth was $3.1 million, surpassing Binance’s $2.3 million. In silver markets, data from HIP-3 showed Hyperliquid with $33,000 depth versus Binance’s $24,000. These figures indicate Hyperliquid’s dominance in tight-spread liquidity, offering improved trade efficiency and reduced slippage.