Hyperliquid Has Moved Beyond Crypto Perp Exchange Territory

Hyperliquid processed $172.63 billion in perpetual trading volume, capturing 31.9% of all tracked perp DEX activity. Open interest sits at $9.66 billion, with BTC/USD generating $2.26 billion in daily volume. Real-world asset perpetuals now account for 44% of total perp DEX volume on the platform.