Grayscale stated in a report that Hyperliquid, a decentralized trading platform, has the potential to grow beyond a cryptocurrency exchange into a financial infrastructure platform. According to CoinDesk, Grayscale said, "Hyperliquid recorded approximately $800 million in revenue last year and processed $2.9 trillion in annual perpetual futures trading volume. It is also expanding its business into tokenized stocks, commodities, and prediction markets. Hyperliquid is a unique project with no direct comparison in both cryptocurrency and traditional finance. If it maintains its current growth trajectory, it could emerge as a major player in financial services."
