Hyperliquid emerging as competitor to traditional exchanges, FalconX says

Decentralized crypto derivatives exchange Hyperliquid (HYPE) is emerging as a competitor to traditional exchanges and prediction markets, crypto prime broker FalconX said in a recent report, according to CoinDesk. FalconX noted that Hyperliquid is expanding its business beyond perpetual futures into pre-IPO trading, prediction contracts, and tokenized real-world assets (RWA), creating a direct competitive dynamic with these established markets.