Kenzie Zhang

[jeff.hl @chameleon_jeff]

Hyperliquid has quietly achieved an important milestone of becoming the most liquid venue for crypto price discovery in the world. See below for side by side comparison of BTC perps on Binance (left) and Hyperliquid (right).

With HIP-3 teams leading the way, Hyperliquid has also grown to become the most liquid venue for perps on tradfi assets. Thank you to everyone's hard work as we upgrade the financial system and house all of finance.

[jeff.hl @chameleon_jeff]

Huge congratulations to TradeXYZ and S&P for this historic partnership. I'm honored that these teams choose to build on Hyperliquid.

Seeing official S&P500 perpetual futures launch exclusively on Hyperliquid is a validation of everyone's past years of hard work: global access to decentralized finance, perpetual futures as 24/7 price discovery, and Hyperliquid upgrading the existing financial stack to house all of finance.

The S&P500 is synonymous with "the market," a single number that captures the essence of the largest economy in the world. Looking forward to tracking the world's most important financial gauge 24/7 on the most liquid permissionless markets.

[Ryan Watkins @RyanWatkins_]

Once you realize Hyperliquid is building the everything exchange, and cross-margin brings it all together, you realize that every other competitor is playing a much narrower, far less defensible game.

On Hyperliquid, perps, spot, options, predictions, RWAs, and related markets are not separate products so much as expressions of a single, unified trading experience powered by a shared risk engine.

At scale, the resulting liquidity and capital-efficiency flywheel should produce a winner-take-most market structure, leaving those who didn’t see the bigger picture fighting for scraps in siloed markets.

Excerpt below on the approaching $HYPE endgame over the coming years.