Hyperliquid's open interest has surpassed $11 billion, making it the third-largest crypto exchange by that measure. Grayscale's Zach Pandl pointed to the growth as a sign the platform is emerging as a rival to Binance in the perpetual futures market, Cointelegraph reported.
Cointelegraph reports that Hyperliquid's open interest has surpassed $11 billion, putting it in third place among crypto exchanges by that measure. According to the outlet, Grayscale's Zach Pandl highlighted the growth, positioning Hyperliquid as a competitor to Binance in the perpetual futures market.
The rise puts Hyperliquid among the key players in the on-chain derivatives market, challenging major centralized exchanges such as Binance. The broader market appears to read the growth as a positive signal for Hyperliquid, potentially influencing its price expectations.
Pricing for Hyperliquid's future value points to a mixed outlook, with the probability of the token reaching $100 by the end of 2026 easing slightly, the report said, even as its open interest keeps climbing past $11 billion.
Source: Crypto Briefing
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