Pinned
Hint: it means that Hyperliquid already has more real users & organic volume/OI than Binance.
Binance faking liquidation data to understate reality is a widely held consensus view. But has anyone stopped to ask themselves, why?
There are two possible explanations as I see it:
Did Binance Just Socialize Hundreds of Millions in Losses—Triggering a New Wave of Altcoin Liquidations? What does it mean?
As we noted a week ago, during the $19.6 billion crypto liquidation event, long liquidations on Binance accounted for only 59% of all liquidations—far
