Hyperliquid Surpasses Centralized Exchanges in Open Interest

Hyperliquid's open interest (OI) has reached $5.25 billion, surpassing several major centralized exchanges, including Bybit, Kraken, and Coinbase, according to data from Onchain Lens.

This milestone marks a significant achievement for the decentralized perpetual exchange built on its own layer-1 blockchain, highlighting its growing adoption among active traders.

Hyperliquid's OI now ranks third among major exchanges, behind only OKX with $6.37 billion and Binance, which leads the market with a substantial $24.91 billion in open interest.