While everyone is watching Bitcoin dump, something much bigger is happening under the surface.
Hyperliquid $HYPE is now beating Ethereum in trading volume on some days as institutional traders rotate away from $BTC and $ETH .
Think about that for a second.
A few years ago, the idea of a decentralised exchange competing with Ethereum would’ve sounded ridiculous.
Today, it’s happening.
Markets don’t care about narratives.
They care about where the liquidity is going.