Ethereum overtakes Bitcoin in open interest on HyperliquidX

Bitcoin: Bitcoin is the pioneering cryptocurrency that established the digital asset class as a store of value and medium of exchange. It remains a benchmark asset frequently traded in leveraged markets. On HyperliquidX, Bitcoin perpetual futures previously led in open interest before Ethereum surpassed it. Ethereum: Ethereum is a leading blockchain platform supporting smart contracts and decentralized applications across finance and beyond. It serves as the foundation for the second-largest cryptocurrency by prominence, with its native token powering ecosystem activity. On HyperliquidX, Ethereum perpetual futures have recently overtaken Bitcoin to hold the highest open interest. HyperliquidX: HyperliquidX operates a decentralized perpetual futures exchange on its custom high-performance Layer 1 blockchain with a fully on-chain order book. The platform supports crypto and non-crypto markets and has expanded through initiatives like HIP-3 for permissionless market creation. It is the venue where Ethereum perpetuals achieved the highest open interest, flipping Bitcoin. Market Activity: Decentralized perpetual exchanges like HyperliquidX have attracted increased trading interest in recent weeks amid evolving platform features. Trading Platform Growth: HyperliquidX has expanded its perpetual markets to include equities, commodities, and other assets beyond crypto.