Fortune Crypto 100: Hyperliquid Tops DeFi; Coinbase Leads CeFi

Fortune unveiled its inaugural Crypto 100 this week, ranking Hyperliquid as the leading decentralized finance platform and naming Coinbase the top centralized finance firm. The list was built with intelligence firm Inca Digital and assessed more than 3,000 companies, sorting them into 10 categories of 10 entries each.

The ranking combined on-chain activity, corporate financials, security infrastructure, regulatory track records and global media footprint to score organizations. More than 200 crypto experts were surveyed to inform trust and reputation measures. Each organization could appear in only one category; if a company qualified for multiple categories it was placed where it scored highest. Fortune and Inca Digital declined to disclose the specific weighting of metrics.

Coinbase placed first in the centralized finance category, with Binance second. Other category winners were Franklin Templeton for traditional finance, Robinhood for fintech, Andreessen Horowitz for venture capital, Tether for stablecoins, Chainalysis for crypto services, Mara for mining, Bitcoin for blockchains and protocols, and BlackRock for digital asset treasuries and ETFs.

Hyperliquid’s ranking reflected a year of token and platform growth. Its Assistance Fund has directed $1.16 billion into HYPE token buybacks since launch. The token entered the top tier of market-cap rankings, briefly surpassing Dogecoin. At press time HYPE traded near $56.65, giving it a market valuation around $12.66 billion; the token remained below a June 2 peak of $75.48 after a recent weekly pullback of about 12.6%.

Fortune noted that crypto market makers were not included in the first edition and said they plan to add market makers to future lists. A companion Crypto Innovators list identified 30 emerging firms across the Asia-Pacific, Europe, Latin America and Africa regions.

“Evaluating digital assets means looking past the trends and analyzing the data that isolates real signals. Inca brought financial and technical analysis across markets, sentiment, and on-chain activity to the Fortune Crypto 100 list. This is what a higher benchmark for tracking the industry looks like,” Adam Zarazinski, CEO of Inca Digital, noted.

Fortune and Inca Digital said they will publish future editions to track performance over time, with a potential follow-up list expected by 2027.