Hyperliquid’s On-Chain Liquidation Challenges Binance: Transparency Drives Industry Shift

A new player in the crypto market, Hyperliquid, is challenging Binance’s dominance by implementing a fully transparent liquidation process, potentially disrupting the industry. This shift towards transparency shines a light on the practices of centralized exchanges like Binance, which reportedly underreport their own liquidation activities by up to 100 times. Hyperliquid founder Jeff highlighted this issue, emphasizing the importance of verifiable blockchain transactions in finance.