Intercontinental Exchange (NYSE:ICE) CEO Jeffrey Sprecher called Hyperliquid “bigger than Nasdaq” at a Bernstein conference this week, sending HYPE (CRYPTO: HYPE) climbing nearly 10% on Friday.
ICE Has Already Met Hyperliquid Founders Multiple Times
Sprecher made the comparison on volume, not market cap. Hyperliquid holds over 70% of the decentralized perpetual futures market and clears billions in daily notional turnover, while Nasdaq Inc. carries a $50 billion market cap against HYPE’s $15.1 billion.
The “11 people” refers to Hyperliquid Labs, the core development team, with open-source contributors and validators running the underlying blockchain.
“This Hyperliquid that we’re talking, if you haven’t heard about it, it’s bigger than Nasdaq, okay? It’s 11 people. You look at it, you’re like, wow, that’s pretty something,” Sprecher said, calling the founders “very, very smart people.”
Sprecher noted ICE took notice partly because Hyperliquid has been trading oil derivatives on weekends …
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