Hyperliquid is gaining significant traction in on-chain spot trading for crypto majors, with its Unit spot BTC volume representing a substantial percentage of major CEXs like Bybit (69.3%) and Coinbase (66.9%) in the last 24 hours. This suggests a potential shift towards decentralized exchanges for spot trading, posing a long-term threat to centralized exchanges. Investors might consider exploring Hyperliquid as a platform or looking into related tokens if available, given its rapid growth and potential to disrupt the market.