According to an analysis posted by @0xMaxs, after the decentralized exchange Hyperliquid's open interest (OI) surpassed Bybit's in a single day for the first time on July 26 this year, it is now rapidly closing in on OKX, the second-ranked centralized exchange. Data shows that as of September 19, 2026, Hyperliquid's open interest, calculated on a 14-day rolling average, has reached 93.7% of OKX's, with the gap between the two narrowing significantly. At the same time, this figure accounts for 22.5% (about one-fifth) of Binance's and 12.2% of the total monitored holdings across major centralized exchanges (CEX). Analysts believe that if the current growth trend continues, Hyperliquid is likely to surpass OKX in terms of sustained average metrics by the end of the year, becoming the primary liquidity platform for derivatives markets after Binance. https://www.(wublock123.com)/news/hyperliquid-14d-moving-average-open-interest-93-7-percent-okx-68671