Cerebras · SpaceX · OKX · Coinbase · CoinDesk
Hyperliquid matters because it shows that financial markets can move onchain at scale without giving up performance
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Cumulatively, all-in volume on the platform was about $5.3 trillion as of August 2026.
Key facts
- The pre-IPO price for Cerebras, for example, was $185, but it traded near $350 on Hyperliquid
- S&P Global licensed its S&P 500 Index for the first-ever perpetual contract that trades 24/7 on Hyperliquid
- During a crypto bear market, Hyperliquid processed $1.28 trillion in perp volume in the first half of 2026
- Cumulatively, all-in volume on the platform was about $5.3 trillion as of August 2026
Summary
You’re reading Crypto for Advisors, CoinDesk’s weekly newsletter that unpacks digital assets for financial advisors. Happy Thursday, advisors! In today’s newsletter, Michael Zhao from Grayscale Research on how Hyperliquid moved exchange-level trading onchain, and why its prices are starting to matter beyond it. Then, in “Ask an Expert,” Kim Klemballa answers questions about the HYPE token: staking, fees, governance and the ETFs now tracking it. Hyperliquid is a decentralized finance (DeFi) platform showing the world what is possible with blockchain technology.