Hyperliquid (HYPE) — Onchain News & Whale Tracking

Hyperliquid's first HIP-4 binary prediction market smart contract has surpassed $2.38 million in trading volume

May 3 Per Hyperliquid’s official website, the first HIP-4 binary prediction market contract—launched at 4:00 PM UTC on May 2 and titled “Will BTC be above $78,213 at 2:00 PM UTC on May 3?”—has accumulated open interest of $1.818 million. In nearly 19 hours since launch, total trading volume has hit $2.384 million, with the current implied probability standing at 0.497. Under the HIP-4 proposal, the Outcomes contract uses a full-collateralization model that eliminates liquidation risk entirely. Its nonlinear settlement structure offers users option-like flexibility, broadening the range of available trading strategies. Plus, natively integrated with the HyperCore chain, it shares cross-margin with the platform’s spot and perpetual contracts, enabling seamless liquidity interoperability and reuse.

Hyperliquid launches the first HIP-4 binary market prediction contract, directly competing with the leading prediction markets Polymarket and Kalshi

May 2 — Hyperliquid has launched its first HIP-4 binary prediction market contract, posing the question: “Will Bitcoin’s price be above $78,213 at 2:00 PM ET on May 3?” Against a landscape where Polymarket leads on-chain prediction market traffic and Kalshi partners with Coinbase to target compliant markets, Hyperliquid’s entry isn’t a simple “follow-the-trend” play. Instead, it’s leaning on its native underlying performance edge to rewrite the prediction market playbook, directly competing with top players Polymarket and Kalshi. Late last month, Hyperliquid rolled out its “Outcome Tokens” fee schedule to prep for the prediction market’s mainnet launch. Contracts are free to open, with fees only applied at close or settlement. Traders using the platform’s “quote-aligning tokens” get extra perks: 20% lower maker fees and 50% higher taker rebates. The full fee formula is open to developers. Built on the HIP-4 upgrade, Outcome Tokens let users trade binary real-world event contracts

Hyperliquid saw a $52.22 million revenue in April, marking a 14.95% decrease from the previous month.

On May 2, DefiLlama data shows Hyperliquid’s April revenue hit $52.22 million—down 14.95% from March’s $61.40 million.

Abraxas Capital holds a $10.5 million long position in Bitcoin on Hyperliquid, and an $8.8 million HYPE short position.

On May 1, Nansen data shows Abraxas Capital is betting on Bitcoin dominance via two wallets on the Hyperliquid platform. Wallet 1 (0x5b5d51): Long $10.5M in BTC with 10x leverage, while shorting HYPE, FARTCOIN, XRP, SOL, and ETH. Wallet 2 (0xb83de0): Short $4.56M in HYPE with 5x leverage (entry price: $42.80, current unrealized gain: $304K), while also shorting xyz:GOLD and xyz:CL. Collectively, the two wallets hold $8.8M in total short positions on HYPE, with $388K in unrealized gains. Abraxas Capital has accumulated $179M in total profits on Hyperliquid.

Hyperliquid Policy Center Submits Comment Letter to CFTC Urging Establishment of Decentralized Oracle Market Regulatory Framework

On April 30, the Hyperliquid Policy Center (HPC) submitted a comment letter to the U.S. Commodity Futures Trading Commission (CFTC) in response to the agency’s Advance Notice of Proposed Rulemaking (ANPRM) on prediction markets, per official sources. HPC noted current discussions center primarily on centralized prediction markets, and called for further clarity on the regulatory framework for decentralized prediction markets built on public, permissionless blockchains. In its comments, HPC urged regulators to establish a “function-driven, flexibly adaptable” rule system—one that lets decentralized market structures fit into compliance pathways, provides legal access for U.S. market participants, and helps the U.S. maintain its leading role in decentralized financial (DeFi) innovation. The organization argued prediction markets drive more efficient price discovery by aggregating dispersed information, with their informational value widely leveraged by financial terminals and media

Trust Wallet has officially integrated Hyperliquid, allowing users to seamlessly trade their crypto assets, commodities, and precious metals perpetual contracts within the app.

April 30 — Trust Wallet has officially integrated Hyperliquid, an on-chain perpetuals trading platform, enabling its 220 million global users to trade perpetual contracts directly within the app. Users stand to benefit from enhanced liquidity, tighter spreads, and a diversified market where spot, futures, and real-world assets (RWAs) can all be traded in one place. Hyperliquid is currently the most liquid decentralized trading platform, with total trading volume surpassing $40 trillion. It supports perpetual contract trading for both crypto assets and RWAs such as oil and precious metals. With this integration, Trust Wallet users can seamlessly access all Hyperliquid market trades upon opening the app, enjoying execution speeds and deep liquidity comparable to professional trading platforms. The wallet delivers a more convenient, seamless experience with broader trading options, putting professional-grade contract trading at users’ fingertips. Trust Wallet CEO Felix Fan noted:

An affiliated FalconX address deposited 11.94 million USDT into HyperLiquid, increasing its 20x long position in crude oil to 202,000 CL tokens.

April 30th: Per Onchain Lens data, a FalconX-linked wallet (0xEbE) deposited 11.94 million USDC into HyperLiquid and boosted its 20x-leveraged CL long position to 202,000 CL (valued at $21.6 million). The whale additionally holds a small 20x-leveraged long position in BRENTOIL, plus 10x-leveraged short positions in HIMS and RIVN.

The ETH “Whale” on Hyperliquid Increases Long Position Again, Now Holding $182 million

April 30 — On-chain analyst Ai Auntie (@ai_9684xtpa) reports that a whale who accumulated a 120,000 ETH long position has locked in massive profits over the past two months via ETH longs. The whale has since expanded their position again, holding $182 million in assets across two addresses. With an entry price of $2,265, they now hold a floating profit of $514,000 — retaking the top spot for ETH holdings on Hyperliquid.

The largest long smart money on Hyperliquid once again took a massive long position on ETH, with a position value exceeding $200 million.

April 30 — Per data from Ashes Monitor, the top bull whale on Hyperliquid has resumed aggressive ETH longs after banking a $684.7 million profit from a long position just two weeks ago. The whale currently holds 90,000 ETH ($203 million) in long positions across three addresses, solidifying his status as Hyperliquid’s largest bull. His average entry price for the ETH positions is $2,265.

Hyperliquid Aims to Challenge Polymarket? Zero Trading Fee Enters $63.5 Billion Prediction Market

April 30th — Decentralized exchange Hyperliquid unveiled its "Outcome Tokens" fee structure, a key milestone ahead of its mainnet launch as it gears up to go head-to-head with top prediction markets Polymarket and Kalshi. The core feature of the fee design: zero fees to open positions; fees only apply when closing or settling trades. Traders using the platform’s "quote alignment tokens" get extra perks: 20% lower taker fees and 50% higher maker rebates. The full fee schedule is now accessible to developers. Outcome Tokens rolled out under the HIP-4 upgrade proposal, letting users trade binary real-world event contracts in the same account as Hyperliquid’s existing perpetuals and spot positions. The timing is strategic: Polymarket just announced this week that "perpetual trading is coming soon," setting up direct competition between the two. For context, the prior upgrade — HIP-3 — launched permissionless perpetual contracts in October 2025; trading volume from those contracts

The Hyperliquid team's productivity ratio is 18 times that of Anthropic and 8 times that of Jane Street.

On April 29, Artemis Statistics reported that Hyperliquid’s 2025 revenue hit $8.57 billion. With just 11 employees, the team’s average annual revenue per person stood at $78 million—dwarfing AI unicorn Anthropic (which averages $4.4 million per employee) and Wall Street giant Jane Street (which averages $9.3 million per employee).

Market Volatility Puts Pressure on Hyperliquid Core Market-Making Address, Wintermute and Auros Global Also Record Losses

On April 29th, HyperInsight monitoring data shows the crypto market saw significant volatility overnight into this morning. Liquidity providers faced a surge in buy orders, with two top LPs on the Hyperliquid platform—Wintermute and Auros Global—suffering varying losses. Wintermute’s LP address recorded an estimated daily loss of $1.1 million. Its key positions include a $23.4 million ETH long, a $16.3 million BTC short, and it provides liquidity for 96 tokens. Auros Global’s LP address posted an estimated daily loss of $400,000. Its main holdings consist of a $44.8 million BTC long, plus $18 million in combined SOL and XRP longs, and it offers liquidity for 175 tokens. Relevant addresses: 0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00 0x023a3d058020fb76cca98f01b3c48c8938a22355

Analyst: Hyperliquid Revenue Surpasses Robinhood Against the Trend, HYPE's Valuation Discount Has Become "Increasingly Unreasonable"

April 29th: Blockworks Research analyst Shaunda Devens shared Q1 2026 data on social media showing a clear cyclical downturn in crypto trading. Robinhood’s crypto revenue fell to $134 million (39.4% drop), while Hyperliquid’s crypto trading revenue declined to $179.7 million (31.0% decrease). Yet Hyperliquid’s crypto revenue still outpaced Robinhood’s crypto segment. Its Real World Asset (RWA) revenue surged 454.8% quarter-over-quarter, and its user base grew 29.6% to 1.19 million—compared to just 1.5% growth for Robinhood’s customer base. HYPE currently trades at a discount to traditional financial peers, largely tied to the cyclical volatility of its crypto cash flows. But with RWA now accounting for over 30% of trading volume and HIP-4 launching a binary outcome prediction market, revenue volatility in this slowdown has roughly matched Robinhood’s—making the discount increasingly irrational. Hyperliquid’s Q1 protocol revenue hit $192.3 million, while Robinhood reported net

Glassnode: Whale Activity on Hyperliquid Shows Ongoing Accumulation, Believes Bitcoin Will Break Out of Range

April 24 — Glassnode data reveals a whale on the Hyperliquid platform continues to build long positions, wagering Bitcoin will break out of its consolidation range. Over the past two months, the whale’s confidence and long exposure have steadily risen, signaling strong bullish sentiment among major perpetual contract traders.

Hyperliquid Short Squeeze: 7 Whales Collective Short Position Liquidated, Liquidation Price at $81,502

April 22nd — Per HyperInsight monitoring (link: https://t.me/HyperInsight, opens new tab), 7 whales with positions exceeding $1 million have opened new short positions on Hyperliquid over the past two hours, totaling $25.56 million in short exposure. Excluding one whale with a large margin address, the remaining 6 whales have an average liquidation price of roughly $81,502. Currently, the address (0xac6) closest to liquidation holds a 40x-leveraged BTC short position, with an entry price of $77,938 and a liquidation price of $78,888.

A whale has deposited 2 million U into HyperLiquid to buy 50,080 HYPE tokens.

On April 22, per Onchainlens monitoring data, a whale address deposited 2 million USDC into HyperLiquid 12 hours ago and purchased 50,080 HYPE tokens at a price of $39.94 each.

Blockchain.com has launched self-custodied perpetual contract trading, powered by HyperLiquid.

On April 22, Blockchain.com announced the launch of perpetual contract trading in its non-custodial DeFi wallet—powered by Hyperliquid—letting users trade with leverage directly from their own wallet without transferring assets to a third-party exchange, enabling full self-custody. The feature supports more than 190 crypto markets, offers up to 40x leverage, and lets users fund their perpetual contract accounts straight from their DeFi wallet. It also includes real-time pricing, flexible leverage options, and risk management tools. Blockchain.com noted that down the line, it will add support for other asset classes like forex, stocks, and commodities.

Hyperliquid will launch the CHIP contract, offering up to 3x leverage

April 22 — Hyperliquid is set to launch perpetual contracts for USDAI (CHIP) with up to 3x leverage, per official sources.

Grayscale Files Hyperliquid ETF Amendment with SEC to Replace Coinbase with Anchorage as Custodian

April 21 — Per The Block, Grayscale has filed an amendment to its SEC filing for the Hyperliquid ETF, swapping Coinbase for Anchorage Digital Bank as the custodian. Anchorage is the first federally chartered crypto bank in the U.S. If approved, the ETF will list on Nasdaq under the ticker "GHYP," with its staking feature still pending regulatory approval.

An address newly deposited $1.99 million into HyperLiquid, longing ASTER with 5× leverage

On April 18, per Onchain Lens monitoring, a newly created wallet deposited 1.99 million USDC into HyperLiquid and opened a 5x leveraged long position on ASTER.

Mainstream Perp DEX Overview: Hyperliquid Trading Volume Drops by 16%, TradeXYZ Weekly Volume Falls to March Levels

Hyperliquid yesterday reported a revenue of $3.27 million, reaching a new high since February 7th.

On April 17, per DefiLlama data, Hyperliquid raked in $3.27 million yesterday—hitting its highest daily revenue since Feb 7. It trails only Tether ($16.41M) and Circle ($6.77M) in daily earnings.

A new address has deposited 7.45 million U to buy HYPE on HyperLiquid.

On April 17, Onchain Lens data indicates a newly created wallet address deposited $7.45 million in USDC into HyperLiquid, purchasing 169,838 HYPE tokens at $43.86 each. Of those tokens, 10,000 HYPE were staked.

「Buddy」 ETH Long Position Ranks Top 2 in Hyperliquid, Overall Position Floating P&L $1.59 million

April 16th — Per on-chain analyst Ai Auntie (@ai_9684xtpa), “Brother Ma Ji” (Huang Licheng)’s ETH long position is now the second-largest holding on Hyperliquid, with an overall floating profit of $1.599 million. His positions are detailed below: - BTC: 40x long position, 204 coins held (valued at $15.23 million); entry price $73,971, floating profit $120,000 - ETH: 25x long position, 13,925 coins held (valued at $32.56 million); entry price $2,245.7, floating profit $1.263 million - HYPE: 10x long position, 211,000 coins held (valued at $9.57 million); entry price $44.286, floating profit $216,000

Arthur Hayes New Article: His Fund is Currently in a Defensive Position, Only Slightly Increasing Holdings in Hyperliquid

On April 16, BitMEX co-founder Arthur Hayes said in a recent article that his fund Maelstrom is currently in a "No Trade Zone." In the first quarter, the fund has essentially halted trading—aside from a slight increase in its long position on Hyperliquid. Hayes identifies two key variables facing the market: First, widespread AI agent adoption will decimate the Western gig economy, sparking a wave of knowledge worker unemployment and a deflationary financial collapse. Second, the Iran-focused conflict led by the Trump administration has now lasted seven weeks, posing a significant threat to shipping in the Strait of Hormuz.

Mainstream Perp DEX Overview: Stable Total Trading Volume, Slight Dip in Hyperliquid Holdings

TRON's protocol revenue reached $82.69M in Q1 2026, second only to Hyperliquid among all chains. At the same time, TRON's TVL reached $5.115B.

TRON's protocol revenue reached $82.69M in Q1 2026, second only to Hyperliquid among all chains. At the same time, TRON's TVL reached $5.115B.

A new address sent 6.75 million U to HyperLiquid and opened a 4x Brent Crude Oil short position.

On April 15th, Onchain Lens monitoring indicates a newly created address has deposited 6.75 million USDC into HyperLiquid, opening a 4x-leveraged long position on BRENTOIL (Brent Crude Oil). The address also holds a TWAP order to expand the position over the next 6 hours.

Anthropic Valuation Surpasses OpenAI on Hyperliquid, Now at $934B

On April 15, market data shows Anthropic has overtaken OpenAI in Hyperliquid’s pre-IPO market segment. Anthropic is currently trading at $934, valuing the firm at $934 billion—up 6% in the past 24 hours. OpenAI, meanwhile, trades at $824 (valuing it at $824 billion) with a 6.3% decline over the same period.

Mainstream Perp DEX Overview: Trading volumes across platforms have seen a recovery, with Hyperliquid's TVL hitting a nearly two-month high

April 14: On-chain Perp DEX market trading volume rebounded, per DefiLlama data. Ecosystem project TradeXYZ saw higher trading volume but lower open interest. Meanwhile, Hyperliquid’s total perpetual contract open interest surged to a new February 2024 high—this round of position growth was not entirely driven by traditional markets. Current top Perp DEX by 24-hour trading volume: - Hyperliquid: ~$7.41B volume, $8.23B open interest - TradeXYZ: ~$2.47B volume, $1.87B open interest - Aster: ~$2.62B volume, $2.07B open interest - EdgeX: ~$2.15B volume, $964M open interest - Lighter: ~$1.83B volume, $761M open interest - Pacifica: ~$485M volume, $85.05M open interest Links: [Hyperliquid](https://app.hyperliquid.xyz/join/NTOD) [Aster](https://www.asterdex.com/en-US/referral/aboter) [Lighter](https://app.lighter.xyz/?referral=70045843) [Pacifica](https://app.pacifica.fi/trade/PAXG?referral=pacbot)

「Hyperliquid Top Long Leader」 Partially Takes Profit, Still Holds 114,000 ETH Long Position

On April 14th, on-chain data analyst yujin reported that following significant gains in BTC and ETH today, the largest bull on Hyperliquid has partially taken profits—closing 1,050 BTC and 6,000 ETH in the past half hour for a total profit of $7.76 million. Additionally, the whale still holds a long position of 114,000 ETH (valued at $272 million) with unrealized profits of up to $34.4 million.

HyperLiquid Stablecoin Supply Reaches All-Time High of $1.78 Billion

As of April 14th, per ASXN data, stablecoin supply on HyperLiquid has grown steadily since February this year. It now sits at an all-time high of $17.8 billion, with USDC supply reaching $14.4 billion.

Hyperliquid Founder Interview: Single-Parent Household Fosters Independent Self-Taught Personality, Early Display of Prodigy Scholar Talent

Recently, Hyperliquid founder Jeff opened up about his growth journey in an interview with *Colossus* magazine, a publication under *Forbes*. Jeff spent his childhood on the Redwood Coast (between San Francisco and Palo Alto) with his younger sister. His parents, both Chinese immigrants, divorced when he was in third grade, and his father left the family. His mother worked as an accountant and often pulled overtime during tax season. “I knew some people were wealthier than us, but I never resented it,” Jeff recalled. “Playing outside didn’t cost anything.” Jeff’s school lacked a competitive academic atmosphere. While his mother said she’d push him academically, she never followed through. No one pushed him to achieve anything until his teenage years—he spent each day playing outside, going to school, coming home, and playing more. That changed in eighth grade, when a chance encounter ignited his drive to learn. From there, he launched his path to academic excellence: he self-stud

A 11-person team with annual revenue exceeding $900 million, Hyperliquid sets the global record for the highest revenue per employee

April 14th: Hyperliquid, a Singapore-based crypto derivatives exchange, has reportedly posted over $9 billion in full-year 2025 profit with just 11 team members—making it one of the world’s highest-earning tech firms per employee, per Colossus (a Forbes publication). To date, the platform has amassed over $40 trillion in total trading volume, holds a 37% market share in the decentralized perpetual contracts space, boasts a market cap of roughly $10 billion, and has never taken a penny in venture capital funding.

Perp DEX Weekly Digest: Hyperliquid Sees Surge in Traditional Asset Trading, TradeXYZ Hits $2.1B in TVL

April 13 – On-chain Perp DEX trading volume saw a slight weekend dip overall, per DefiLlama data. However, TradeXYZ—an HIP-3 ecosystem project—bucked the trend: its traditional asset holdings climbed ~13% from Friday, pushing Hyperliquid’s total open interest higher. Top Perp DEXs by 24-hour trading volume: ? Hyperliquid: ~$51.8B | $78.3B open interest ? TradeXYZ: ~$16.9B | $21B open interest ? Aster: ~$14.5B | $19.5B open interest ? EdgeX: ~$12.4B | $9.90B open interest ? ApeX: ~$10.6B | $1.22B open interest ? Pacifica: ~$2.53B | $79.97M open interest ### Notes on American English adaptation: 1. **Conciseness**: Used ~ for "about" (common in financial/news shorthand), simplified phrasing (e.g., "posted a slight decline" → "saw a slight dip"). 2. **Terminology**: Retained industry-standard terms (Perp DEX, open interest) and clarified units ($B = billion, $M = million) for readability. 3. **Flow**: Used em dashes (—) for parenthetical context (natural in U.S. n

Hyperliquid's founder once turned down a $1 billion valuation funding proposal, sticking to a "Zero External Investment" approach.

April 13 — Hyperliquid founder Jeffrey Yan rejected a $100 million investment offer tied to a ~$1 billion valuation, just months after the blockchain protocol launched (less than a year online). The team had been self-funding operations throughout, with Yan personally covering monthly project costs before and after the investment proposal emerged. Yan consulted multiple entrepreneurs and VCs on fundraising’s purpose and value but never bought into the idea that external capital would boost the protocol’s intrinsic worth. He formally informed his team of the rejection this Monday. Fund management team members were stunned by the call, as they’d already made extensive preparations for the fundraising push, per insiders. Yan’s key rationale: Hyperliquid isn’t a traditional company but a blockchain protocol requiring neutrality. He argued external equity capital could undermine the protocol’s “permissionless, neutral” positioning — conflicting with its long-term design goals. H

Hyperliquid Rides Weekend Crude Trading Frenzy, Two Oil Perpetual Swaps Surpass $1 Billion in Open Interest

April 13th — Official data shows Hyperliquid capitalized on the crude oil trading surge as traditional markets closed for the weekend, with combined open interest for the two key crude contracts topping $1 billion. WTIOIL hit $670 million, while BRENTOIL stood at $334 million. Meanwhile, Hyperliquid traders have begun shifting to long positions on crude, pushing the 24-hour funding rate for both contracts to around 0.6%.

Tether CEO: USDT Adoption on Hyperliquid is Rapidly Growing

On April 10, Tether CEO Paolo Ardoino noted in a post: “USDT adoption on Hyperliquid is growing rapidly.” Data indicates that in less than three months, USDT has gone from having almost no presence on Hyperliquid to accounting for 7.8% of total HIP-3 trading volume.

Mainstream Perp DEX Overview: Platform Trading Volumes Dip, Hyperliquid Position Size Sees Slight Increase

April 10 Per DefiLlama data, total trading volume on on-chain perpetual DEX (Perp DEX) markets has declined. Aster’s 24-hour trading volume has surpassed EdgeX and Lighter, moving to 2nd place. Meanwhile, total open interest for HIP-3 ecosystem projects TradeXYZ and Hyperliquid has seen slight increases. Below is the latest Perp DEX 24-hour trading volume ranking: - Hyperliquid (https://app.hyperliquid.xyz/join/NTOD): ~$82.3B trading volume, ~$74.6B open interest - TradeXYZ: ~$30.2B trading volume, ~$17.4B open interest - Aster (https://www.asterdex.com/en-US/referral/aboter): ~$20.7B trading volume, ~$19.1B open interest - Lighter (https://app.lighter.xyz/?referral=70045843): ~$19.0B trading volume, ~$7.06B open interest - EdgeX: ~$18.4B trading volume, ~$10.5B open interest - Pacifica (https://app.pacifica.fi/trade/PAXG?referral=pacbot): ~$422M trading volume, ~$79.34M open interest （Note: Uses American English conventions—concise bullet points, "~" for approximat

Today, a total of 14 whales on Hyperliquid opened million-dollar positions in crude oil, all of which were long positions

April 10th: Per Hyperinsight monitoring (https://t.me/HyperInsight), **14 whale accounts holding $1M+ crude oil positions** were active today on Hyperliquid (exclusively via Trade.xyz). - 10 hold WTIOIL long positions; 4 hold BRENTOIL long positions (all long—no new $1M+ short positions added today). **Top 2 long positions by liquidation pressure today:** - WTIOIL Whale (0xf9f): Liquidation price = $87.7 | Position size = $5.02M - BRENTOIL Whale (0x9ab): Liquidation price = $87.2 | Position size = $1.91M Addresses: 0xf9fbfe77059b980cd8aef58204a3a66f9eaa0b98 0x9ab1c356e6af86361446497fce954b3cdf940206

A new address has deposited 5 million USDC into Hyperliquid and has purchased 59,239 HYPE.

On April 10, per LookOnChain monitoring, a newly created wallet deposited 5 million USDC into Hyperliquid (https://app.hyperliquid.xyz/join/NTOD) to purchase HYPE, and has so far acquired 59,239 HYPE—valued at roughly $2.39 million.

Mainstream Perp DEX Overview: TradeXYZ's trading volume surged yesterday but has since retraced, still holding a 45.7% share of Hyperliquid's total volume

As of April 9th, data from DefiLlama indicates that TradeXYZ—an ecosystem project tied to HIP-3—saw its trading volume double yesterday before pulling back. Hyperliquid’s overall 24-hour trading volume has now fallen below $10 billion, with 45.7% of that volume originating from TradeXYZ’s traditional market. EdgeX ranks second in trading volume among leading perpetual DEXs (Perp DEXs) currently. Here’s the latest 24-hour trading volume and open interest breakdown for major Perp DEXs: - [Hyperliquid](https://app.hyperliquid.xyz/join/NTOD): ~$9.54 billion (trading volume); ~$7.25 billion (open interest) - TradeXYZ: ~$4.36 billion (trading volume); ~$1.69 billion (open interest) - EdgeX: ~$2.30 billion (trading volume); ~$1.03 billion (open interest) - [Aster](https://www.asterdex.com/zh-CN/referral/aboter): ~$1.92 billion (trading volume); ~$1.87 billion (open interest) - [Lighter](https://app.lighter.xyz/?referral=70045843): ~$1.82 billion (trading volume); ~$688 million (o

HYPE Treasury Company Hyperliquid Strategies Inc has recently acquired an additional 220,000 HYPE tokens, worth approximately $8.58 million.

April 9: Per Hypurrintel data, Hyperliquid Strategies Inc has acquired 220,000 HYPE tokens (valued at ~$8.58 million) since March 19. The firm currently holds $112.6 million in cash reserves. In total, Hyperliquid Strategies Inc holds 18.82 million HYPE, with an approximate value of $738 million.

The combined perpetual contract trading volume of the top two oils on Hyperliquid has surpassed BTC for the first time

April 9th: Total trading volume of WTI and Brent crude oil has exceeded Bitcoin’s for the first time, per official data from Hyperliquid. Bitcoin’s volume stood at $2.29 billion, while WTI crude hit $1.68 billion and Brent crude reached $770 million.

Flash Loan Attack: Attacker exploits low liquidity to trigger a "suicidal" liquidation, causing Hyperliquid HLP to lose approximately $1.5 million

On April 9, PeckShield monitoring showed an attacker opened a $15 million long position in $Fartcoin (totaling 1.4524 billion tokens) on Hyperliquid using 4 wallets. The attacker then proactively triggered a "suicidal" liquidation in a low-liquidity environment, forcing the Auto-Deleveraging (ADL) mechanism to activate. This compelled the HLP liquidity pool to absorb toxic assets, leading to bad debt and roughly $3 million in accounting losses. HLP has shed about $1.5 million over the past 24 hours. PeckShield noted the attacker likely hedged in advance via cross-domain strategies—meaning actual net profit may far outpace the accounting loss figure.

Hyperbeat will launch Hyperliquid, a non-custodial financial layer called Liquid Banking.

On April 8th, Hyperbeat—Hyperliquid’s native yield layer—unveiled Liquid Banking, its non-custodial financial layer, enabling users to transact, save, and make payments on Hyperliquid via a full-stack account. Developed in partnership with Paxos Labs (which leverages institutional-grade stablecoin infrastructure to back Hyperbeat’s native stablecoin), Liquid Banking also includes participation from global fiat on-ramp provider Noah. Built for users seeking end-to-end transactional, savings, and payment functionality, Liquid Banking eliminates the need to transfer custody to a centralized platform.

RWA Transaction Volume on Hyperliquid Reaches 47.1% of Total Volume, Approaching All-Time High

April 8: Following the U.S.-Iran two-week ceasefire agreement, crude oil prices plummeted. Meanwhile, HIP-3 ecosystem project TradeXYZ on the Hyperliquid platform saw a sharp surge in trading volume, with its 24-hour volume topping $5.01 billion. Currently, RWA trading volume on Hyperliquid makes up 47.1% of total volume, approaching a historical high.

Heavyweight Bullish Oil Price Whale Faces Massive Withdrawal, Loses Over $3.6 Million in a Single Day to Enter Top Three of Hyperliquid Loss Leaderboard

April 8th — Per Hyperinsight Monitoring, the "Low-Leverage Long Crude Oil" whale sharply boosted its long WTI crude position at 1 AM today as WTI traded above $111/bbl. The position hit $20.2 million, a bet that US-Iran tensions would escalate further following the Trump-era deadline. However, the tide turned quickly: expectations of a US-Iran ceasefire materialized, sending oil prices plummeting. The whale reversed course later that day, incurring a $3.63 million loss. It landed among the top three addresses for intraday losses on the Hyperliquid platform—and held the largest intraday loss across crude oil assets. Address: 0x7f5ff9f8da891ffe5229e33b90959ae1e6d5f47e

Mainstream Perp DEX Overview: Only TradeXYZ trading volume has surpassed the rest of the platforms, accounting for approximately 38% of Hyperliquid's overall trading volume

April 7th — Per DefiLlama data, HIP-3 ecosystem project TradeXYZ has seen its trading volume climb steadily, with total volume topping $24 billion and open interest exceeding $22 billion. Both metrics outpace other platforms, and TradeXYZ now accounts for 38% of Hyperliquid’s total trading volume. Below are the top perpetual DEXs by 24-hour trading volume: - Hyperliquid (including TradeXYZ): 24h trading volume ~$71 billion; open interest ~$76.3 billion - TradeXYZ: 24h trading volume ~$24.18 billion; open interest ~$22.33 billion - EdgeX: 24h trading volume ~$22.15 billion; open interest ~$10.01 billion - Lighter: 24h trading volume ~$18.8 billion; open interest ~$6.61 billion - Aster: 24h trading volume ~$18.29 billion; open interest ~$18.03 billion - Pacifica: 24h trading volume ~$4.31 billion; open interest ~$78.93 million [Hyperliquid](https://app.hyperliquid.xyz/join/NTOD) [Lighter](https://app.lighter.xyz/?referral=70045843) [Aster](https://www.asterdex.com/

Hyperliquid Hits All-Time High in Active Addresses, Surpassing 250,000 for the First Time

On April 6th, per HyperTracker data, the number of active addresses on the Hyperliquid platform topped 250,000 for the first time, now at 252,339.