Hyperliquid's trading volume surpassed Ethereum on some trading days, with institutional funds shifting to high-volatility assets like HYPE.

June 2nd, according to CoinDesk, FalconX reported that on some trading days, its trading volume on the decentralized derivatives platform Hyperliquid has surpassed Ethereum. Institutions and hedge funds are shifting from range-bound Bitcoin and Ethereum to more volatile assets such as HYPE, Zcash, Venice, and AI concept tokens. FalconX pointed out that against the backdrop of macroeconomic uncertainty and spot ETF outflows, BTC and ETH implied volatility are near historical lows, and funds are seeking higher volatility targets. Hyperliquid attracts institutional capital looking to trade diversified assets in a 24/7 crypto-native on-exchange environment by offering pre-IPO perpetual contracts for companies like SpaceX, tokenized stocks, commodities, and prediction market-like products. The platform's projected revenue for 2025 is approximately $800 million.