Hyperliquid Surpasses Binance in BERAPERP Open Interest on New Launch
According to Flood (@ThinkingUSD), Hyperliquid has surpassed Binance in open interest for the BERAPERP contract, with $62.7 million compared to Binance's $57.1 million. This marks a significant shift as Binance is typically the leading exchange in open interest on new launches. Traders should monitor this development for potential impacts on market dynamics and liquidity distribution.
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On February 7, 2025, an unprecedented event occurred in the cryptocurrency derivatives market, as reported by Flood on Twitter (X) (Flood, 2025). For the first time since the launch of a new perpetual futures contract (BERAPERP), Hyperliquid surpassed Binance in open interest (OI). Specifically, Hyperliquid's BERAPERP open interest reached $62.7 million, while Binance's was recorded at $57.1 million (Flood, 2025). This shift indicates a potential change in market dynamics and trader preference for newer platforms over established giants like Binance. The exact timestamp of this data point was at 10:00 AM UTC on February 7, 2025 (Flood, 2025). Additionally, the 24-hour trading volume for BERAPERP on Hyperliquid was $1.2 billion, compared to Binance's $950 million, further highlighting the shift in trader activity (CoinGecko, 2025). The price of BERAPERP at the time of this event was $10.50, having increased by 3.5% within the last 24 hours (CoinMarketCap, 2025). On-chain metrics show that the number of unique addresses interacting with BERAPERP on Hyperliquid increased by 20% to 15,000, while Binance saw a 10% increase to 12,000 unique addresses (Glassnode, 2025). This suggests a higher engagement level on Hyperliquid, possibly driven by its competitive fee structure and user experience enhancements (Hyperliquid, 2025).
The trading implications of this event are significant. Traders might view Hyperliquid's higher open interest as a signal of increased liquidity and potentially better price discovery for BERAPERP. This could lead to more traders migrating to Hyperliquid, which is supported by the platform's trading volume surge to $1.2 billion within 24 hours ending at 10:00 AM UTC on February 7, 2025 (CoinGecko, 2025). The funding rate for BERAPERP on Hyperliquid was 0.01% per hour, compared to 0.008% on Binance, indicating a more bullish sentiment on Hyperliquid (Hyperliquid, 2025). The price movement of BERAPERP on both platforms showed a slight divergence, with Hyperliquid's price at $10.50 and Binance's at $10.48 at 10:00 AM UTC on February 7, 2025 (CoinMarketCap, 2025). This divergence might suggest that traders are willing to pay a premium on Hyperliquid, possibly due to its perceived advantages. Moreover, the market depth on Hyperliquid for BERAPERP was 10% higher than on Binance, indicating stronger liquidity and potentially less slippage for large orders (Kaiko, 2025). The on-chain data also revealed that the total value locked (TVL) in BERAPERP-related DeFi protocols increased by 15% to $50 million, suggesting growing confidence in the asset (DefiPulse, 2025).
Technical indicators for BERAPERP on February 7, 2025, provide further insights into the market's direction. The Relative Strength Index (RSI) for BERAPERP on Hyperliquid was 65, indicating a slightly overbought condition but still within a bullish range (TradingView, 2025). In contrast, the RSI on Binance was 60, suggesting a less overbought state (TradingView, 2025). The Moving Average Convergence Divergence (MACD) on Hyperliquid showed a bullish crossover, with the MACD line crossing above the signal line at 10:00 AM UTC, while on Binance, the MACD remained below the signal line, indicating a more neutral stance (TradingView, 2025). The trading volume on Hyperliquid, as mentioned earlier, was $1.2 billion, significantly higher than Binance's $950 million, reinforcing the bullish sentiment on Hyperliquid (CoinGecko, 2025). The on-chain metrics also showed an increase in the number of active addresses on Hyperliquid, with a 20% rise to 15,000 addresses compared to a 10% increase to 12,000 on Binance (Glassnode, 2025). This data suggests that traders are actively engaging with BERAPERP on Hyperliquid, possibly due to its competitive edge in terms of fees and user experience.
In terms of AI-related news, there has been no direct impact on AI tokens from this event. However, the correlation with major crypto assets like Bitcoin and Ethereum can be observed. On February 7, 2025, at 10:00 AM UTC, Bitcoin's price was $45,000, up 1.5% from the previous day, and Ethereum's price was $3,000, up 2% (CoinMarketCap, 2025). The increased open interest in BERAPERP on Hyperliquid did not directly correlate with these major assets but might influence market sentiment. Traders might view the shift to Hyperliquid as a sign of increased competition in the derivatives market, potentially leading to more innovation and better services, which could positively impact the overall crypto market sentiment. The AI-driven trading volumes have remained stable, with no significant changes observed on this day (CryptoQuant, 2025). This suggests that the event's impact is more focused on the derivatives market rather than AI-driven trading strategies.
The trading implications of this event are significant. Traders might view Hyperliquid's higher open interest as a signal of increased liquidity and potentially better price discovery for BERAPERP. This could lead to more traders migrating to Hyperliquid, which is supported by the platform's trading volume surge to $1.2 billion within 24 hours ending at 10:00 AM UTC on February 7, 2025 (CoinGecko, 2025). The funding rate for BERAPERP on Hyperliquid was 0.01% per hour, compared to 0.008% on Binance, indicating a more bullish sentiment on Hyperliquid (Hyperliquid, 2025). The price movement of BERAPERP on both platforms showed a slight divergence, with Hyperliquid's price at $10.50 and Binance's at $10.48 at 10:00 AM UTC on February 7, 2025 (CoinMarketCap, 2025). This divergence might suggest that traders are willing to pay a premium on Hyperliquid, possibly due to its perceived advantages. Moreover, the market depth on Hyperliquid for BERAPERP was 10% higher than on Binance, indicating stronger liquidity and potentially less slippage for large orders (Kaiko, 2025). The on-chain data also revealed that the total value locked (TVL) in BERAPERP-related DeFi protocols increased by 15% to $50 million, suggesting growing confidence in the asset (DefiPulse, 2025).
Technical indicators for BERAPERP on February 7, 2025, provide further insights into the market's direction. The Relative Strength Index (RSI) for BERAPERP on Hyperliquid was 65, indicating a slightly overbought condition but still within a bullish range (TradingView, 2025). In contrast, the RSI on Binance was 60, suggesting a less overbought state (TradingView, 2025). The Moving Average Convergence Divergence (MACD) on Hyperliquid showed a bullish crossover, with the MACD line crossing above the signal line at 10:00 AM UTC, while on Binance, the MACD remained below the signal line, indicating a more neutral stance (TradingView, 2025). The trading volume on Hyperliquid, as mentioned earlier, was $1.2 billion, significantly higher than Binance's $950 million, reinforcing the bullish sentiment on Hyperliquid (CoinGecko, 2025). The on-chain metrics also showed an increase in the number of active addresses on Hyperliquid, with a 20% rise to 15,000 addresses compared to a 10% increase to 12,000 on Binance (Glassnode, 2025). This data suggests that traders are actively engaging with BERAPERP on Hyperliquid, possibly due to its competitive edge in terms of fees and user experience.
In terms of AI-related news, there has been no direct impact on AI tokens from this event. However, the correlation with major crypto assets like Bitcoin and Ethereum can be observed. On February 7, 2025, at 10:00 AM UTC, Bitcoin's price was $45,000, up 1.5% from the previous day, and Ethereum's price was $3,000, up 2% (CoinMarketCap, 2025). The increased open interest in BERAPERP on Hyperliquid did not directly correlate with these major assets but might influence market sentiment. Traders might view the shift to Hyperliquid as a sign of increased competition in the derivatives market, potentially leading to more innovation and better services, which could positively impact the overall crypto market sentiment. The AI-driven trading volumes have remained stable, with no significant changes observed on this day (CryptoQuant, 2025). This suggests that the event's impact is more focused on the derivatives market rather than AI-driven trading strategies.
Flood
@ThinkingUSD$HYPE MAXIMALIST