Privately held trading company Hyperliquid, a key player in the fast-growing derivatives market, is closing, pointing to a consolidation in one of the industry’s hottest new markets.
Ventuals, the project behind OpenAI-linked perpetual futures and Anthropic valuations, said on Monday that it is coming to an end and that its team will join another project within the Hyperliquid ecosystem.
The move has halted trading on the OPENAI and ANTHROPIC markets, and all positions are automatically liquidated. Other markets will close in the coming days. The team said it generated more than $650 million in trading volume and attracted more than 500,000 HYPE in community support during its run.
The closure comes as cryptocurrency trading venues increasingly move beyond digital assets to markets traditionally associated with Wall Street. Traders can now use perpetual futures to speculate on commodities, stocks, and private company valuations through blockchain-based markets.
Hyperliquid has become one of the main spaces for that trend. The exchange processed approximately $234 billion in perpetual futures volume over the past month, according to data from DefiLlama.
