As the leading player in the crypto exchange market, Binance currently dominates in trading volume, user visits, and average liquidity. However, the upcoming HIP-3 upgrade for Hyperliquid is being touted as a catalyst that could propel the decentralized exchange (DEX) into a competitive position, potentially even surpassing Binance.

How HIP-3 Expands Hyperliquid’s Reach Into TradFi

The significance of HIP-3 lies in its ability to decentralize market creation, fostering an environment ripe for permissionless innovation. Traditional perpetual DEXs and centralized exchanges (CEXs) like Binance have historically relied on opaque listing processes, which restrict growth to a limited selection of assets.

HIP-3 aims to transform this approach by allowing anyone to launch a full perpetual

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