Binance Hack Shifts Crypto Trading Volumes to DEXs Despite Market Downturn
Centralized exchanges lose market share to DEXs as users react to the $6.3B Binance hack.
Centralized exchanges lose market share to DEXs as users react to the $6.3B Binance hack. Hyperliquid (HYPE) is trading at ₹8,297 ($87.29), down 0.3% since this brief published. This is an original Token Times brief based on reporting by AMBCrypto, with live market data added, as of Sun, 01 Nov 2026 23:00:01 UTC.
The shift highlights growing user concerns over CEX security and the potential for decentralized alternatives to capture market share during crises, even as overall trading volumes decline.
- Binance hack led to a slight rise in Hyperliquid's CEX volume share from 8.0% to 8.3%.
- DEXs may struggle to retain users due to limited reimbursement options for hack victims.
- Hyperliquid's TVL grew by 11.1% over the past week to $1.93B.
- Crypto Market Faces Pressure Amid Binance Hack and Technical Downturn
- Binance Suffers Record $6.3 Billion Crypto Hack Amid Market Downturn
- Binance Hack Shifts Crypto Trading Volumes to DEXs Despite Market Downturn — this brief
The recent $6.3 billion hack on Binance has prompted a shift in crypto trading volumes from centralized exchanges (CEXs) to decentralized exchanges (DEXs). According to reports, 
Hyperliquid's share of CEX volume increased from 8.0% to 8.3% following the incident.
Despite this shift, the overall market remains cautious. The total crypto market cap stands at $2.68 trillion, with 
Bitcoin showing a modest 24-hour gain of 0.36%. The Fear & Greed Index remains at 34, indicating a 'Fear' sentiment among investors.
Hyperliquid, a prominent DEX, has seen its Total Value Locked (TVL) rise by 11.1% over the past week, reaching $1.93 billion, as per data from DeFiLlama. This growth suggests that some users are moving towards decentralized platforms in the wake of the Binance hack.
However, the long-term implications of this shift are uncertain. DEXs may struggle to retain users due to their limited ability to reimburse victims of hacks, unlike CEXs which have more resources to compensate for losses.
The market's reaction to the Binance hack underscores the ongoing debate between the security and transparency of DEXs and the user protections offered by CEXs. As the situation evolves, it will be crucial to monitor how users balance these trade-offs in their trading decisions.
Since this brief published about 60 minutes ago, Hyperliquid (HYPE) has moved from ₹8,321.63$87.55 to ₹8,296.92$87.29 — -0.30%.
The chart plots HYPE's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 HYPE ≈ ₹9,171.56 (about $87.29), down 0.2% over 24 hours. The rupee itself trades about 10.5% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 1, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Binance Hack Shifts Crypto Trading Volumes to DEXs Despite M — questions & answers
What caused the shift from CEXs to DEXs?
The $6.3 billion Binance hack prompted users to move towards DEXs, fearing security issues with centralized exchanges.
How has Hyperliquid's TVL been affected?
Hyperliquid's TVL increased by 11.1% over the past week, reaching $1.93 billion.
What challenges do DEXs face after the hack?
DEXs may struggle to retain users due to their limited ability to compensate for hack-related losses.
How much is 1 Hyperliquid worth in rupee today?
About ₹9,171.56 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $87.29. The rupee price moves with both HYPE's US-dollar price and the USDT/INR rate; use our Hyperliquid in rupee page for any amount.
Has Hyperliquid's price moved since this brief was published?
HYPE is down 0.30% since this brief first published — trading at ₹8,297 ($87.29) now versus ₹8,322 ($87.55) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from AMBCrypto. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.