DEX is going crazy! Hyperliquid is eating into the trading territory of exchanges, and the derivatives market is experiencing a power reshuffle!

A quiet revolution is shaking the most solid fortress in the crypto world.

The decentralized perpetual contract platform Hyperliquid is rapidly approaching the top eight in trading volume, **kicking its way into the bowl of established exchanges HTX, Kraken, and BitMEX!** Data from April 4 shows that its trading activity has already surpassed most 'OG platforms', dismantling the entire derivatives landscape from below.

This is no joke, Hyperliquid has climbed to the 12th largest derivatives exchange in the world, with open contracts exceeding $3 billion! Although it still lags behind the exaggerated $19.5 billion of 'exchanges', its growth rate has already made centralized giants break into a cold sweat.

Here comes the key point: this 'decentralized star project', however, has been questioned by the community for its recent platform intervention operation as 'fake decentralization and real central control'. The hand of centralization has reached into the very core of DEX; this is not a slap in the face, but a backstab!

Bitget analyst Ryan Lee bluntly stated: 'If a 'decentralized protocol' reacts the same way as a traditional CEX, investors will lose patience and trust in the entire DEX ecosystem.' #鲍威尔发言 #Dogecoin‬⁩ #XR #sui #TUTCIONE $BTC $ETH $BNB