Hyperliquid (HYPE) — Onchain News & Whale Tracking

Hyperliquid announces that the testnet HIP-4 for the Binary Market is now part of the mainnet-level Bug Bounty Program

On April 3, Hyperliquid officially announced that trading results from its binary market testnet are now immediately eligible for inclusion in its mainnet-level bug bounty program. Note: The current bug bounty scope does not cover multi-outcome markets. Frontend feedback is welcome but not eligible for program rewards. Previously, Hyperliquid had announced that HyperCore will support outcome trading (per HIP-4). Outcome contracts are fully collateralized, with settlement prices bounded within a fixed range. They act as a generic foundational transaction element for use cases including prediction markets and bounded option-like instruments.

Hyperliquid continues to capture CEX market share, with the perpetual contract market share approaching 6%.

April 3rd According to The Block, decentralized perpetual contract platform Hyperliquid is gaining market share from centralized exchanges. In March, its share of total perpetual contract trading volume rose to nearly 6%—up sharply from ~3.5% a year ago—with monthly volume approaching $200 billion. Notably, this growth comes amid an overall decline in exchange trading volumes since the August 2025 peak, meaning Hyperliquid is actually capturing share rather than just riding a broader market surge. Among on-chain rivals, dYdX and GMX have failed to match Hyperliquid’s volume growth or product expansion, with the platform now clearly leading the decentralized perpetual contract space. A key structural driver behind the trend is Hyperliquid’s expansion into non-crypto assets. Commodities like oil are now tradable 24/7 on the platform, and non-crypto asset trading volume’s share of total activity is steadily rising. This underscores decentralized platforms’ structural edge over

Perp DEX Overall Fee Squeeze Amid Market Downturn, with Hyperliquid Currently Holding 50% Fee Share

April 2 — Perp DEX has seen a gradual drop in total fees amid a market downturn, per DefiLlama data, while HyperLiquid’s market share is on the rise. Currently, HyperLiquid accounts for 50% of Perp DEX’s fee volume, with HIP-3 Commodities & Stocks making up 40% of HyperLiquid’s trading volume.

A whale deposited $4.97 million into HyperLiquid two weeks ago and has now started shorting oil with 3x leverage.

Per Onchainlens data, a crypto whale deposited $4.97M into HyperLiquid two weeks prior to April 2. The whale has now opened a small 3x-leveraged BRENTOIL (Brent Crude Oil) short position and may add to this position or launch other trades down the line.

Hyperliquid Launches Mobile App Beta on Google Play Store

On April 1, Hyperliquid announced via its official Discord channel that its mobile app is now available on the Google Play Store as an initial MVP (Minimum Viable Product) for user testing. Android users can access the app via a dedicated link. The initial MVP has intentionally limited functionality—currently only supporting trade notifications. The goal is to gradually upgrade from a Progressive Web App (PWA) based on early user feedback, iterating on feature priorities and device-specific issues. Download numbers will be capped during the testing phase, and user feedback is strongly encouraged. Officials note this is just the first MVP version. Users wanting to disable notifications can uncheck "Enable Push Notifications" in the settings dropdown. Future plans include expanding notification configuration options. Important reminder: Avoid any counterfeit apps on the Google Play Store—always use the official link.

「BFF」 Photo Story: Contributed approximately $1.94 million in fees to Hyperliquid

On April 1st, “Brother Ma” Huang Licheng disclosed in a post on X that he had paid $1,941,502.64 in gas fees using the HyperLiquid platform. Per HyperInsight analytics, “Brother Ma” currently holds a 25x leveraged long position worth $15.64 million on Ethereum, with roughly $19 million in total account losses.

Hyperliquid March Revenue $61.4M, Down 10.6% YoY

April 1st: DefiLlama data reveals Hyperliquid’s March revenue hit $61.4 million, a slight dip from February’s $62.02 million and a 10.6% year-on-year drop from March 2025’s $68.73 million.

A new wallet deposited 19.6 million USDC into HyperLiquid to go long on crude oil, currently facing a unrealized loss of over $2.3 million

On April 1st, Onchain Lens data reveals the newly created wallet 0x9d3 deposited 19.6 million USDC into HyperLiquid to take long positions on CL ($25.67M) and BRENTOIL ($15.6M), currently facing a liquidation loss exceeding $2.3M.

A new wallet deposited 9.6 million USDC into HyperLiquid, leveraged long on crude oil.

Per OnchainLens monitoring on March 31, a newly created wallet has deposited 9.6 million USDC into HyperLiquid, opened a 20x leveraged CL long position, and continues to actively add to the position.

A new wallet deposited $4.89 million into HyperLiquid and shorted 9,887 ETH with 20x leverage.

On March 31st, per Onchain Lens monitoring, a newly created wallet deposited $4.89M into HyperLiquid and shorted 9,887 ETH with 20x leverage. The position totals $20M, with an opening price of $2,021.63 and a liquidation price of $2,466.02.

HIP3 Stake Reaches All-Time High Percentage of Hyperliquid Platform Total Stake

**March 30: HIP3’s share of total positions on the Hyperliquid platform hit a new all-time high, per ASXN data.**

Mainstream Perp DEX Overview: Weekend Liquidity Dips, Hyperliquid Trading Volume Sees 43% Weekly Decline

March 30 – Trading activity across major perpetual futures decentralized exchanges (Perp DEXs) slowed broadly over the weekend, with open interest also declining, according to DefiLlama data. Hyperliquid’s trading volume dropped 43% week-over-week (vs. the prior Monday) to roughly $3 billion, though its open interest remains elevated relative to peers. Below is the latest 24-hour trading volume ranking for key Perp DEXs: - Hyperliquid: ~$28.2B 24h trading volume; ~$69.2B open interest (Link: https://app.hyperliquid.xyz/join/NTOD) - EdgeX: ~$15.9B 24h trading volume; ~$10.8B open interest - Aster: ~$14.5B 24h trading volume; ~$17.7B open interest (Link: https://www.asterdex.com/referral/aboter) - Apex: ~$9.95B 24h trading volume; ~$11.1B open interest - Lighter: ~$9.73B 24h trading volume; ~$6.52B open interest (Link: https://app.lighter.xyz/?referral=70045843) - Pacifica: ~$2.23B 24h trading volume; ~$70.46M open interest (Link: https://app.pacifica.fi/t

「Hyperliquid Early Contributor Loracle」 Takes Profit Continuously on HYPE Longs, Reducing Holdings by Nearly $6 Million

March 30 — According to monitoring from HyperInsight (via its Telegram channel @HyperInsight), the address 0x8def... (linked to Hyperliquid early contributor Loracle, AKA Laurent Zeimes) executed consecutive take-profit trades on its HYPE long position. The cumulative sell volume totaled $5.95 million, with an average exit price of roughly $38.5. Following this round of profit-taking, the address’s total HYPE long position size dropped from $22.47 million to $16.52 million. It holds an unrealized profit of approximately $220,000 (a ~6% return) and has an average entry price of $37.63. Loracle (Laurent Zeimes) is the founder of Hypurrfun and a key early contributor to the Hyperliquid ecosystem. He has recently been active in Hyperliquid’s derivatives market, having previously bottom-fished and gone long on ZEC in December.

Hyperliquid Labs has successfully unstaked 333,000 HYPE tokens, which will be distributed to team members on April 6th.

On-chain data shows the Hyperliquid team wallet unstaked 333,000 HYPE tokens (worth roughly $13 million) 11 hours ago as of March 30th. HYPE is currently trading at $37.56, with a 5.14% drop over the past 24 hours. Per an official prior announcement, 333,000 tokens from Hyperliquid Labs were set to be unstaked on March 29th and distributed to team members on April 6th.

A whale has deposited 4 million USDC into HyperLiquid and started accumulating HYPE.

March 28: OnchainLens monitoring shows a whale address has deposited 4 million USDC into HyperLiquid and begun purchasing HYPE. As of now, the address holds 56,208 HYPE valued at over $2 million. It also has an active Time-Weighted Average Price (TWAP) order, which is expected to expand its position further in approximately 10 hours.

In the past 48 hours, a multi-million dollar whale on Hyperliquid has been all-in on long position for crude oil

March 27th — Per HyperInsight monitoring (via Telegram @HyperInsight), data from the past 48 hours shows 12 whales on the Hyperliquid platform have opened positions exceeding $1 million in size and still hold them. These positions cover WTI Crude Oil (WTIOIL) and Brent Crude Oil (BRENTOIL): 5 whales hold WTIOIL positions, while 7 hold BRENTOIL positions. All positions are long-only. Key details for positions closest to liquidation: - WTIOIL: Address 0xde8 holds a $1.83M position, with an average entry price of $91.4, liquidation price of $89.19, and ~2.4% distance to liquidation. - BRENTOIL: Address 0x8ba holds a $1.2M position, with an average entry price of $103.28, liquidation price of $100.58, and ~2.6% distance to liquidation.

「Buddy」 once again deposited 500,000 USDC into HyperLiquid to leverage his ETH long position

March 27: Per Onchain Lens data, a whale has again deposited 500,000 USDC into HyperLiquid to boost its 25x-leveraged ETH long position.

Trade.xyz Dominates the Hyperliquid Ecosystem, Holding Over 90% Market Share of HIP-3

March 27 (per loris.tools data) — After former President Trump’s frequent weekend “raids” this year, Trade.xyz — a platform focused on U.S. stock and commodity futures trading — has capitalized on trading demand during traditional financial market off-hours. Since January, Trade.xyz has seen a notable jump in trading volume, notching a single-day record of $5.31 billion on March 23. While volume has trended downward over the past two days, its market share in the overall HIP-3 market still exceeds 90%. Additionally, Dreamcash — a mobile trading platform in the HIP-3 ecosystem — recorded a daily trading volume of $159 million, ranking second only to Trade.xyz.

Hyperliquid Ecosystem RWA DeFi Protocol Felix Launches Tokenized Stock and ETF Trading

March 27th — Official sources report that Felix, the RWA DeFi protocol in the Hyperliquid ecosystem, has launched tokenized stock and ETF trading. The protocol has partnered with OndoFinance to build its spot infrastructure, listing over 250 assets to date. It also manages perpetual markets for silver, oil, and copper via the HIP-3 mechanism. Reportedly, Felix focuses on providing on-chain users with tokenized U.S. stocks, ETFs, and commodity perpetual contracts, supporting 24/7 market access and low execution fees.

Hyperliquid's Active Smart Contract Address Count Hits All-Time High

On March 26, data from Hypertracker shows the number of active perpetual contract trading addresses on Hyperliquid hit a record high of 241,419.

Hyperliquid Bitcoin's Largest Short Seller Liquidates, Loses $2.345 Million

On-chain analyst Ai Auntie (@ai_9684xtpa) reported on March 26 that the top Bitcoin position holder on Hyperliquid—who had mistakenly taken a short position—was liquidated in the early hours of the day, suffering a regretful $2.345 million loss. Their 1,000 BTC were liquidated in four batches, with an entry price of $69,614 and liquidation prices ranging from $70,802 to $71,936. Currently, the holder still maintains a $20 million long position in Brent crude oil, which has an unrealized loss of $9,800.

Hyperliquid's BTC Contract T1 Position Liquidated 306.4 BTC, New Liquidation Price $82,395

March 25th: Per AI Auntie monitoring, the top BTC position holder on Hyperliquid (address 0x94d…33814) actively liquidated 306.4 BTC 10 minutes ago, incurring a loss of $686,000 (position value: $22.01 million). The remaining 694.81 BTC still carries an unrealized loss of $1.37 million, pushing the liquidation price up to $82,395.

Mainstream Perp DEX Overview: Increasing Open Interest Across Platforms, Hyperliquid's Total Value Locked Reaches $7 Billion

March 25 — Per DefiLlama data, major perpetual DEX platforms saw a slight dip in trading volume from the previous day, while open interest in perpetual contracts rose. Notably, Hyperliquid’s open interest has returned to $7 billion, and Aster’s trading volume is once again the second-highest. The latest 24-hour trading volume and open interest rankings for each platform are as follows: - Hyperliquid: ~$7.81B in trading volume, ~$7.07B in open interest; - Aster: ~$2.58B in trading volume, ~$1.90B in open interest; - EdgeX: ~$2.56B in trading volume, ~$1.18B in open interest; - Lighter: ~$2.04B in trading volume, ~$713M in open interest; - Grvt: ~$1.61B in trading volume, ~$471M in open interest; - Apex: ~$1.22B in trading volume, ~$118M in open interest; - Pacifica: ~$454M in trading volume, ~$76.73M in open interest. [Note: Affiliate links are retained as provided.]

Hyperliquid's Hip 3 Deployer Markets to Go Live on Mobile

March 25th — Per a Markets social media post, the Markets mobile app is currently in testing and will roll out to a specific group with limited spots. First-wave users will get one free trade, sponsored by Markets.

Hyperliquid's Hip 3 Deployer Markets is about to launch on mobile.

On March 25th, Markets announced via a social media post that its mobile app is currently in testing, with limited spots opening to a select group. Initial users will receive one free trade, sponsored by Markets.

HYPE Finance company Hyperliquid Strategies has launched PURR stock options trading on Nasdaq.

March 25th – Per a company press release, Hyperliquid Strategies Inc.—the HYPE Treasury company—announced Tuesday it has launched options trading for its common stock PURR on the U.S. Nasdaq Options Market. The move aims to boost liquidity and improve price discovery for PURR shares, which offer investors a capital-efficient way to gain exposure to Hyperliquid’s native token HYPE. Hyperliquid Strategies primarily accumulates HYPE tokens via staking, yield optimization, and ecosystem engagement to maximize shareholder value. Hyperliquid Strategies CEO David Schamis stated: “This is a significant milestone for the company. PURR options enable our investors to better manage risk and tap into the fast-growing Hyperliquid high-performance ecosystem.” Schamis noted that at the time of the options launch, Hyperliquid is seeing record growth—fueled by a surge in trading volume for perpetual contracts tied to tokenized real-world assets, including perpetual oil contracts. Just six months

The top Bitcoin whale on Hyperliquid is shorting BTC while longing crude oil.

On-chain analyst Ai Auntie (@ai_9684xtpa) reported on March 25th that the address 0x94d…33814 opened a combined BTC short and Brent crude long position overnight, with a total notional value of $89.79 million—securing the top BTC position on Hyperliquid. The position breaks down as: - 1,000 BTC in a 40x short (valued at $70.65 million, entry price $69,614) - 202,000 barrels of Brent crude in a 20x long (valued at $19.16 million, entry price $98.32)

Mainstream Perp DEX Overview: Hyperliquid Hits $12.28 Billion in 24h Trading Volume, Nearly Matching the Sum of the Other Top Five Platforms

March 24th — According to DefiLlama data, Hyperliquid’s trading volume surged past $100 billion again over the past 24 hours, hitting $122 billion. Meanwhile, the combined trading volume of the other five major DEXs in the same period totaled approximately $131.86 billion. The latest trading volume ranking of major perpetual DEXs is as follows: - Hyperliquid: ~$122.76 billion in trading volume, ~$67.73 billion in open interest [link: https://app.hyperliquid.xyz/join/NTOD] - EdgeX: ~$48.51 billion in trading volume, ~$11.3 billion in open interest - Aster: ~$37.86 billion in trading volume, ~$18.88 billion in open interest [link: https://www.asterdex.com/zh-CN/referral/aboter] - Lighter: ~$24.81 billion in trading volume, ~$6.67 billion in open interest [link: https://app.lighter.xyz/?referral=70045843] - Grvt: ~$15.6 billion in trading volume, ~$4.8 billion in open interest - Pacifica: ~$5.086 billion in trading volume, ~$71.11 million in open interest [link: https://app.p

Hyperliquid Long/Short Ratio Shows Significant Differentiation: TAO, ZRO, and ASTER Dominated by Bulls, While WLD, TRUMP, and AVAX See Bearish Accumulation

A certain whale longed crude oil after 2 months and was liquidated in the largest 24-hour single trade, withdrawing the remaining funds to Hyperliquid.

On March 24th, on-chain analyst Auntie Ai (@ai_9684xtpa) shared key updates on a dormant whale address: - **March 19**: The whale (silent for 2 months) recharged 4.1 million USDC to Hyperliquid. - **March 21**: It opened a $26.51 million long position in BRENTOIL at an entry price of $105.8. - **Overnight (March 23)**: Amid market volatility from Trump’s ongoing "TACO" remarks, the position was liquidated at $91.1—resulting in a $3.085 million loss. - **Subsequent**: The whale withdrew the remaining 273,000 USDC from Hyperliquid. Two months prior, the address lost $690,000 trading XMR, pushing total losses to $4.42 million.

On Hyperliquid, the top 10 assets by trading volume yesterday only included 4 cryptocurrencies

**March 24 Data: Just 4 Cryptos in Hyperliquid’s Top 10 Trading Assets Yesterday** Per figures released March 24, only four cryptocurrencies—BTC, ETH, SOL, and HYPE—landed in Hyperliquid’s top 10 list of assets by 24-hour trading volume for the prior day. Here’s the full ranking (in USD, by volume): 1. BTC: $3.68B 2. ETH: $1.53B 3. CL (Crude Oil): $1.25B 4. SILVER: $1.22B 5. BRENTOIL: $1.01B 6. GOLD: $542M 7. XYZ100: $382M 8. SOL: $375M 9. HYPE: $330M 10. SP500: $293M This version uses concise, news-style language common in U.S. financial updates: - Information is frontloaded (key takeaway first) - Abbreviations (B/M for billions/millions) are standard in U.S. business media - Adds "(Crude Oil)" next to "CL" for clarity (common commodity shorthand) - Clean, scannable numbering for rankings - No jargon beyond widely recognized crypto/asset symbols

Hip3 Deployer on Hyperliquid trade.xyz Hits All-Time Highs Across the Board

On March 24, trade.xyz announced via its official social media that all key metrics have hit record highs, including: - Total trading volume: $110 billion - Open interest: $1.6 billion, with a 24-hour peak trading volume of $5.6 billion - 24-hour peak daily active traders: 453,000 - Weekend peak trading volume: $1.09 billion - XYZ’s share of Hypercore’s 24-hour peak total trading volume: 44.4% This rewrite uses concise, scannable bullet points (standard for U.S. news briefs), active framing ("announced via"), and clear numerical formatting—aligning with American English style for financial/trade updates.

Hyperliquid Crude Oil Contract 24-hour Total Trading Volume Surpasses $2.2 Billion, Second Only to Bitcoin

As of March 24th, HyperInsight data shows the 24-hour total trading volume of Hyperliquid Crude Oil Perpetual Contracts exceeded $2.2 billion—second only to the $2.22 billion recorded on March 9th. Key breakdowns: - CL (WTI Crude Oil Perpetual Contract) trading volume on Hyperliquid topped $1.25 billion, trailing only BTC ($3.78 billion) and ETH ($1.54 billion). - BRENTOIL (Brent Crude Oil Perpetual Contract) volume exceeded $960 million.

Trump Sends Negotiation Signal Oil Price Under Pressure, 'Hyperliquid Early Contributor Loracle' Massively Liquidates Crude Oil (CL) Long Positions

**March 24th** Per Coinbob's Popular Address Monitoring (link: https://t.me/Coinbob_track_CN), international oil prices edged lower yesterday following news that former U.S. President Donald Trump announced a five-day pause in military strikes against Iran and a shift to negotiation. "Hyperliquid Early Contributor Loracle" closed a large portion of their **xyz:CL long position** over the past two hours, with closing prices ranging from $89.0 to $90.0 (slightly above the opening price), netting an overall profit of ~$350,000. The address currently holds a remaining xyz:CL long position worth ~$400,000, with a floating profit of ~$10,000. **Remaining Positions Held by the Address:** - HYPE long position: ~$20.8839 million (floating loss: $90,000; liquidation price: $2.15) - PAXG long position: ~$1.63 million (floating loss: ~$330,000)

Weekend Mainstream Perp DEX Overview: Platform Trading Volumes Cool Off Across the Board, Hyperliquid Position Size Shrinks Slightly

March 23 — Perpetual DEX platforms saw a broad slowdown in trading activity over the weekend, per DefiLlama data. Among top players: - Hyperliquid’s trading volume dropped nearly 50% from Friday to ~$4.9B, though open interest remained elevated at ~$68.3B. - EdgeX ranked second with ~$2.97B in 24-hour volume. Latest 24-hour trading volume and open interest rankings: 1. Hyperliquid: ~$49.0B (volume) | ~$68.3B (open interest) 2. EdgeX: ~$29.7B | ~$11.1B 3. Aster: ~$25.0B | ~$18.1B 4. Lighter: ~$13.8B | ~$6.72B 5. Grvt: ~$9.44B | ~$4.73B 6. Backpack: ~$8.14B | ~$2.17B 7. Pacifica: ~$2.68B | ~$68.52M Links: [Hyperliquid](https://app.hyperliquid.xyz/join/NTOD) [Aster](https://www.asterdex.com/zh-CN/referral/aboter) [Lighter](https://app.lighter.xyz/?referral=70045843) [Pacifica](https://app.pacifica.fi/?referral=pacbot)

Hyperliquid reports S&P 500 Pre-Market Expectation Skew, as Whale Opens $1.02M Short Position

March 23 — Per HyperInsight’s monitoring, the S&P 500 on Hyperliquid is currently trading at $6,480, with a funding rate of -0.0036%. This marks a slight dip from Friday’s close of $6,506. Amid weakening pre-market signals, a whale with the address starting with 0x935 opened a 10x leveraged short position on the S&P 500 over the past hour. The position totals $1.02 million, with an entry price of $6,478 and a liquidation price of $7,054.

Based: The token airdrop will be distributed to Hyperliquid wallet users on TGE day

On March 20, cross-chain trading platform Based announced that its $ASED airdrop tokens will be directly distributed to users’ Hyperliquid wallets on the TGE day—no manual claiming required—to guarantee a seamless experience and avoid claiming bottlenecks. Eligible recipients may designate their preferred receiving wallet via the airdrop lookup page. Users must set up or update their receiving wallet by 12:00 UTC on March 25. Failure to specify a preferred wallet will result in tokens being sent to the default address.

Mainstream Perp DEX Overview: Hyperliquid Trading Volume Continues to Soar, Edge Trading Volume Recently Holding Steady in Second Place

March 20th — Per DefiLlama data, trading volumes on some perpetual futures DEX (Perp DEX) platforms have declined recently, while open interest has seen a slight contraction. Notable trends: - **Hyperliquid**: 24-hour trading volume rebounded from yesterday’s levels, with positions holding at a high level. ~$9.37B in 24h volume; ~$7.00B open interest. - **EdgeX**: May be benefiting from an anticipated listing, driving active trading (ranks second). ~$3.54B 24h volume; ~$1.11B open interest. - **Aster**: ~$3.09B 24h volume; ~$1.86B open interest. - **Lighter**: ~$1.85B 24h volume; ~$722M open interest. - **Grvt**: ~$1.54B 24h volume; ~$490M open interest. - **Pacifica**: ~$441M 24h volume; ~$75.81M open interest. Links retained as original: [Hyperliquid](https://app.hyperliquid.xyz/join/NTOD) | [Aster](https://www.asterdex.com/zh-CN/referral/aboter) | [Lighter](https://app.lighter.xyz/?referral=70045843) | [Pacifica](https://app.pacifica.fi/?referral=pacbot)

A whale has deposited $4.1 million into Hyperliquid to leverage a $16.08 million long position on Brent crude oil.

On March 19th, Onchain Lens monitoring data shows a crypto whale—after two months of inactivity—deposited $4.1 million into Hyperliquid and opened a 5x leveraged long position on 150,000 barrels of Brent Crude Oil (BRENTOIL), valued at roughly $16.08 million. The whale currently holds a total historical loss of $1.19 million.

Mainstream Perp DEX Overview: Hyperliquid Trading Volume Surges by About 25.9%, Total Position Size Now Exceeds All Platforms

Hyperliquid Fiat Exchange Functionality Test Launch

March 19th — Hyperliquid Founder Jeff Yan announced the platform’s fiat on-ramp feature is now live for testing, powered by Swapped. Users no longer need to hold crypto to access related features on the designated site. Supported regions offer payment options including credit cards and bank transfers. To try it out, select "Fiat" in the deposit interface. The fiat on-ramp is still in early testing, and the team invites user feedback. Going forward, more payment options and on-chain assets will be gradually added.

Hyperliquid adds S&P 500 Futures Contract, Total Position Size Surpasses $19.6 Million

On March 19th, per Hyperinsight monitoring, Trade.xyz launched the S&P 500/USDC trading pair on the Hyperliquid platform via the HIP-3 protocol, supporting up to 50x leverage. The contract went live officially last night. As of press time, total trading volume has hit $31.5 million, while open interest has rapidly climbed to $19.6 million. (Note: Links to external sources are retained as they appear in the original context.)

Trade.xyz has adjusted the trading pair names deployed on Hyperliquid, involving crude oil and forex underlyings

March 19 — Per HyperInsight monitoring (from its Telegram channel @HyperInsight), Trade.xyz has updated the names of 5 trading pairs on Hyperliquid via HIP-3. The pairs cover assets including crude oil, forex, and stock indices, and the changes are strictly for naming standardization. The specific updates are as follows: - $EUR → $EURUSD - $JP225 → $Japan225 - $CL → $WTICRUDE - $BRENTOIL → $BRENTCRUDE - $KR200 → $Korea200

Several Whales are continuously increasing their HYPE holdings through Hyperliquid

On March 19, OnchainLens monitoring shows multiple crypto whales are actively ramping up their HYPE holdings via the Hyperliquid platform. Key moves include: - Whale address 0x96d: Deposited $4.44 million in USDC to Hyperliquid, boosting HYPE holdings to 253,442 tokens (≈$10.55 million). Average buy price: $32.57; $1.3 million in outstanding buy orders remain pending. - Whale address 0x780: Deposited $2.67 million USDC, purchasing 63,547 HYPE at $42.06 per token. - Whale address 0x50b: Spent $1.98 million to acquire 47,076 HYPE at $42.14 each.

Standard & Poor's Dow Jones Indices has licensed the S&P 500 Index for Hyperliquid Perpetual Contract Trading

March 18 — S&P Dow Jones Indices has licensed the S&P 500 Index for perpetual contract trading on the Hyperliquid platform.

Mainstream Perp DEX Overview: Hyperliquid's Total Value Locked remains at a high level of fluctuation, with trading volume experiencing a phased 20% decline.

Cryptocurrency investor Rudy Kadoch deposited $3 million into Hyperliquid to establish a position in HYPE.

On March 18th, Onchain Lens monitoring data reveals that a wallet tied to crypto investor Rudy Kadoch (@KadochRudy) made its first deposit to Hyperliquid: 3 million USDC was deposited, and the wallet purchased 50,330 HYPE tokens for $201,800. The wallet currently has outstanding orders and plans to acquire an additional $981,987 worth of HYPE.

Hyperliquid HIP-3 Market Open Interest Hits All-Time High

On March 18, data showed Hyperliquid’s HIP-3 market total open interest reached $1.43 billion as of March 15—setting a new all-time high. Since the first batch of HIP-3 markets launched six months ago, this metric has surged more than 100x. Currently, **trade.xyz**—built by Hyperliquid’s tokenization arm Hyperunit—dominates the space: it accounts for roughly 90% of the open interest, while its daily trading volume hovers around $22 billion (also ~90% of total HIP-3 trading activity). Notably, only 7 of the top 30 markets by volume on trade.xyz are crypto pairs; the majority are tokenized traditional assets, including S&P 500, Nasdaq, single-stock futures, and commodities like gold, silver, and crude oil. Analysts cite 24/7 trading support as a key driver of HIP-3’s growth—this feature lets traditional assets break free from standard market hours constraints.

Aster Mainnet Appears to Have Launched, Hyperliquid's Largest ASTER Long Position Shows a Floating Profit of Around $3.9 Million

March 17 – Aster has officially launched its mainnet, per lookonchain data. Its official website now hosts a block explorer for the network. Meanwhile, on decentralized derivatives exchange Hyperliquid, the largest ASTER long position holds 25.93 million ASTER tokens (≈$20.4 million), with an unrealized gain of roughly $3.9 million to date.

Mainstream Perp DEX Overview: Hyperliquid's Open Interest Continues to Rise, with a 27.8% Increase During the Month

On March 17, data from DefiLlama shows that trading volume on perpetual DEXs (Perp DEXs) has rebounded recently, while open interest across major platforms continues to trend upward. Hyperliquid, in particular, has seen a cumulative 27.8% gain in positions since the start of this month. Below are the latest 24-hour trading volume and open interest figures for leading Perp DEXs: - Hyperliquid: ~$8.45 billion (24h volume); ~$6.99 billion (open interest) - Aster: ~$3.41 billion (24h volume); ~$2.09 billion (open interest) - EdgeX: ~$3.31 billion (24h volume); ~$1.17 billion (open interest) - Lighter: ~$2.47 billion (24h volume); ~$0.793 billion (open interest) - Apex: ~$1.36 billion (24h volume); ~$0.128 billion (open interest) - Pacifica: ~$0.555 billion (24h volume); ~$77.1 million (open interest)