Hyperliquid’s share of open interest surged to 11.7%, surpassing Bybit, Kraken, and OKX.
According to The Block, this figure covers Hyperliquid itself and eight major centralized exchange counterparts. Its positions also grew 80% in the third quarter. Taken together, the two figures show that the rising share came alongside growth in overall position size—not merely a shrinking denominator.
· The 11.7% figure is based on the combined total across the nine platforms listed above; it does not represent the share of the entire market.
· The 80% figure is the increase in the third quarter; the report did not provide a more detailed breakdown of how it was calculated.
When assessing decentralized exchanges’ market share, do you look at open interest or trading volume first?
$BTC $ETH
According to The Block, this figure covers Hyperliquid itself and eight major centralized exchange counterparts. Its positions also grew 80% in the third quarter. Taken together, the two figures show that the rising share came alongside growth in overall position size—not merely a shrinking denominator.
· The 11.7% figure is based on the combined total across the nine platforms listed above; it does not represent the share of the entire market.
· The 80% figure is the increase in the third quarter; the report did not provide a more detailed breakdown of how it was calculated.
When assessing decentralized exchanges’ market share, do you look at open interest or trading volume first?
$BTC $ETH
