Decentralized derivatives exchange Hyperliquid has pushed its total open interest above $11 billion, according to Techub News, which cited Crypto Briefing. That move puts the platform ahead of several centralized exchanges and makes it the world’s third-largest crypto exchange by open interest. The ranking shift points to a notable change in where liquidity and trading capital are concentrating across the market. The update highlights Hyperliquid’s rising position in crypto derivatives as traders increasingly allocate activity to venues outside the traditional centralized exchange model. No additional figures or timeframe beyond the latest open interest reading were disclosed in the report.
Hyperliquid, a decentralized derivatives exchange, has seen its total open interest climb above $11 billion, according to Techub News, citing Crypto Briefing.
By open interest, the platform has moved past several centralized exchanges to become the world’s third-largest crypto exchange.
The shift in the data reflects a marked change in market liquidity and capital flows, the report said.
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