Jeffrey Sprecher, chief executive of Intercontinental Exchange, described the decentralized crypto platform Hyperliquid as bigger than Nasdaq in trading activity during a May 27 conference appearance.
Sprecher made the remarks in a fireside chat with Bernstein analyst Chinedu Bolu. He highlighted Hyperliquid's small team of 11 people and its dominance of more than 70 percent of the decentralized perpetual futures market. The HYPE token has a market capitalization of roughly $15.1 billion, compared with Nasdaq Inc.'s $50 billion valuation as of May 28.
