Hyperliquid is beating ethereum in trading volume on some days as big money rotates, says FalconX

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Hyperliquid is beating ethereum in trading volume on some days as big money rotates, says FalconX Institutional investors are ditching range-bound bitcoin and ether for Hyperliquid as the decentralized platform wins over hedge funds with massive liquidity and early access to hot markets, according to Joshua Lim, head of markets at FalconX. By Helene Braun | Edited by Stephen Alpher Jun 2, 2026, 3:11 p.m. 2 min read Make preferred on (Getty Images) What to know : Hyperliquid’s HYPE token and derivatives platform have become a major liquidity hub for hedge funds and institutional investors seeking trades beyond bitcoin and ether, according to FalconX. With bitcoin and ether seen as range-bound amid macro uncertainty and ETF outflows, speculative capital is rotating into altcoins such as HYPE, Zcash and AI-linked tokens, driving higher volatility there. Hyperliquid is drawing interest for its early, hard-to-access markets like pre-IPO perpetuals and tokenized stocks, fueling a broader bet that crypto-native venues could evolve into 24/7 platforms for trading a wide range of financial assets despite regulatory risks. Hyperliquid (HYPE) has emerged as one of the most liquid trading venues in the crypto market, attracting growing interest from hedge funds and institutional investors as capital rotates away from bitcoin and ether, according to Joshua Lim, global head of markets at FalconX.