this is the kind of chart that makes the 2030 Hyperliquid thesis worth paying attention to. Hyperliquid’s share of perp open interest against major CEXs just reached a new ATH of 11.7%. that number was only around 6–7% earlier this year. and some long-term models are getting much more aggressive. one research framework sees Hyperliquid reaching around 50% of DEX perp volume by 2032, while the bull case puts it at 60%. the bigger thesis is simple: > more trading moves onchain > Hyperliquid keeps taking share > new markets expand the addressable market HIP-3 is already pushing beyond crypto into stocks, commodities, FX and indices, while HIP-4 adds prediction markets. so 11.7% today may look small if you’re thinking about where this could be by 2030. if Hyperliquid keeps taking market share from CEXs, positioning early matters. $HYPE is one i’m paying very close attention to. #BTC Price Analysis# #HyperLiquid #Altcoin Season# $BTC $HYPE #Bullish