Hyperliquid Controls 66% of Decentralized Derivatives Volume
Despite a Fear & Greed Index of 23, three structural forces are quietly compounding: RWA tokenization at $27.6B (+300% YoY), AI crypto consolidating at $22.6B across 919 projects, and Hyperliquid commanding 44–66% of decentralized derivatives volume with $492.7B traded in Q1 2026.