Hyperliquid (HYPE) — Onchain News & Whale Tracking

Hyperliquid has burned 4.76% of its total HYPE token supply, worth approximately $2.63 billion.

According to monitoring by Onchain Lens, Hyperliquid burned approximately $1.07 million worth of HYPE over the past 24 hours, while generating $1.45 million in fees in the same period. The protocol’s official cumulative HYPE burn has reached 47.62 million tokens, equivalent to roughly $2.63 billion, representing 4.76% of its total maximum supply of 1 billion tokens.

A whale is long $XMR and is targeting $475–$516! A newly created wallet deposited 3.56M $USDC into Hyperliquid and op...

A whale is long $XMR and is targeting $475–$516! A newly created wallet deposited 3.56M $USDC into Hyperliquid and opened a 4x long on 36,000 $XMR ($14.33M). The whale then placed take-profit orders between $475 and $516.

Hyperliquid's development team redeemed 433,000 HYPE tokens and sold them, valued at approximately $24.25 million.

According to EmberCN’s monitoring, HyperLabs, the development team of Hyperliquid, redeemed 433,000 HYPE tokens from staking this morning, worth $24.25 million, and has sold them via market maker Flowdesk. Over the past several hours, 165,000 HYPE have been transferred to Flowdesk; 75,000 HYPE were deposited into Hyperliquid and sold for USDC; another 90,000 HYPE, valued at $5.04 million, have been moved to OKX and Bybit.

Hyperliquid Policy Center has submitted a statement to the CFTC, calling for support for on-chain perpetual futures innovation.

Hyperliquid Policy Center (HPC) announced it has submitted a policy statement to the U.S. Commodity Futures Trading Commission (CFTC) Agricultural Advisory Committee meeting, supporting U.S. users’ participation in on-chain derivatives markets and calling on regulators to adopt a gradual approach to advancing the development of innovative products such as perpetual futures. The submitted statement puts forward three key viewpoints: 1. Market choice is critical for risk management; users in agricultural and other derivatives markets need more tool options. Past experiences of restricting innovative products show that closing market choices without adequate assessment may incur costs. 2. A phased approach to regulating perpetual futures is a reasonable direction for the CFTC. HPC stated that the development of new derivatives should be driven by end-user demand, rather than solely relying on regulatory presets. 3. Public blockchains can enhance the efficiency of financial infrastructure. HPC believes blockchain technology can modernize clearing and settlement systems, improve collateral liquidity, while remaining compliant with the Commodity Exchange Act’s requirements for market integrity and risk protection.

UNITREE Pre-IPO trader deposits $3M USDC, opens 5x long on 3,507 $UNITREE ($264K) on Hyperliquid

UNITREE is now live on the Pre-IPO market. Someone deposited 3M $USDC into Hyperliquid and started building a long position in $UNITREE. So far, the trader has opened a 5x long on 3,507 $UNITREE($264K).

A trader deposited 3 million USDC into Hyperliquid and opened a long position on Unitree.

According to Lookonchain monitoring, a trader deposited 3 million USDC into Hyperliquid and opened a long position in UNITREE (Unitree Robotics). As of now, the trader has used 5x leverage to go long on 3,507 UNITREE tokens, with the position valued at approximately $264,000.

JPMorgan: Hyperliquid ETF capital inflows have stalled, competitive pressure on trading platforms has intensified.

JPMorgan said Hyperliquid (HYPE) ETF led non-Bitcoin crypto fund inflows in May and June, but demand for the product largely stalled in July and early August, reflecting rising market concerns over its competitive outlook. Analysts led by Nikolaos Panigirtzoglou pointed out that decentralized platforms like Hyperliquid face significant market share pressure. After the launch of U.S.-regulated crypto perpetual futures products, some trading activity may shift from overseas decentralized platforms to compliant centralized exchanges, which hold advantages in licensing, compliance and investor protection. JPMorgan also noted that Hyperliquid is expanding its prediction market business, though competition in this sector is also intensifying. While HYPE has become the fourth-largest asset in corporate crypto treasuries, trailing only BTC, ETH and SOL, it remains uncertain whether it can continue to capture market share from larger ecosystems like Solana and XRP. Currently, the assets under management (AUM) of BTC and ETH ETFs stand at roughly $77 billion and $10 billion respectively, while other crypto ETFs including SOL, XRP and HYPE combined only have a total size of around $2 billion to $3 billion. HYPE has fallen more than 3% in the past 24 hours, trading at approximately $55.30.

Hyperliquid burned approximately $1.28 million worth of HYPE over the past 24 hours, bringing its cumulative total of burned HYPE tokens to 47.53 million.

According to monitoring by OnchainLens, Hyperliquid burned HYPE tokens worth approximately $1.28 million via its buyback-and-burn mechanism over the past 24 hours. During the latest reporting period, the platform generated $1.65 million in trading fees. To date, Hyperliquid’s cumulative HYPE burn volume has reached 47.53 million tokens, valued at roughly $2.68 billion at current prices, accounting for 4.75% of HYPE’s maximum total supply of 1 billion tokens.

Hyperliquid Releases Q2 Report: RWA Trading Volume Share Rises to 32.2%, HYPE Surges 79% in the Quarter to Hit a New High

Hyperliquid Research Collective (HRC) released its Q2 2026 report, stating that real-world asset (RWA) perpetual contract trading on the Hyperliquid platform continues to grow. The proportion of HIP-3-related trading volume rose from 1.8% in the prior quarter to 20.7%, then climbed further to 32.2% in Q2, with quarterly transaction volume reaching $213 billion—accounting for nearly one-third of the platform’s total trading volume. The report shows that the Hyperliquid ecosystem gained more attention from traditional finance during Q2, with three HYPE ETFs launching for trading, providing investment channels for institutional investors unable to custody tokens directly. Meanwhile, asset management firms including Hyperliquid Strategies have steadily built HYPE reserves; currently, funds and related treasuries hold approximately 7.7% of the total HYPE supply. On the data front, HYPE rose 79% in Q2, hitting a historical high of $76.90, while Bitcoin fell 14% over the same period. Hyperliquid protocol revenue recovered growth after hitting a bottom in April, with monthly revenue at quarter-end reaching $169 million, pushing cumulative protocol revenue past $1 billion, of which $141 million was returned to holders via buybacks.

The two addresses holding the largest KAITO positions on Hyperliquid have incurred a cumulative unrealized loss of $1.17 million.

According to monitoring by @ai_9684xtpa, the address holding the largest KAITO position on Hyperliquid has added margin. The two addresses together currently hold an unrealized loss of $1.17 million. On August 3, two new addresses opened a combined $6.94 million 5x long position as the token price declined, with entry prices of $1.1178 and $1.1117 respectively. The address starting with 0x2be added $1.953 million in USDC as margin half an hour ago; it remains unclear whether this move is to reduce liquidation risk or add to the long position.

A new crypto address has opened a 40x short position on BTC on Hyperliquid, with a position size exceeding $100 million.

Per Lookonchain’s monitoring, a newly created wallet address 0xff84 deposited $2.44 million in USDC to Hyperliquid and opened a 40x leveraged short Bitcoin position. Data shows the trader’s short position size amounts to 1,600 BTC, with a notional value of approximately $102.6 million and a liquidation price of $64,888.97. It remains unclear whether the trader is acting on market information or simply making a high-risk directional bet. Highly leveraged short positions face the risk of rapid liquidation amid heightened market volatility.

Mysterious trader opens 40x short on 1,600 $BTC with $102.6M position on Hyperliquid

A mysterious trader is making a massive 40x short on $BTC! A newly created wallet, 0xff84, deposited 2.44M $USDC into Hyperliquid and opened a 40x short on 1,600 $BTC($102.6M). Liquidation price: $64,888.97. Does he know something, or is this just a huge bet?

Hyperliquid pre-prices Unitree’s new token offering to yield a 4.88x gain, with the private subscription date set for August 10.

Hyperliquid has launched the pre-IPO perpetual contract for Unitree, currently priced at around $74, corresponding to a post-IPO market capitalization of approximately $30 billion. The UNITREE pre-market perpetual contract price represents the USD price of one ordinary share of Unitree. Unitree’s STAR Market IPO plans to issue at least ~40.45 million shares, accounting for 10% of its total post-issuance share capital, with total post-issuance shares standing at roughly 404.5 million. The current contract price translates to an implied market cap of $30 billion, or around RMB 205 billion. Unitree’s IPO prospectus targets an issuance valuation of approximately RMB 42 billion (roughly $5.8–6.2 billion), implying an expected IPO return of 4.88 times after listing. Unitree is set to hold its initial public offering and list on the Shanghai Stock Exchange’s STAR Market. The offering will combine strategic placement, off-line subscription, and online subscription. The proposed public offering size is 40,446,434 shares, with total post-issuance share capital of 404,464,340 shares. The preliminary inquiry date is August 5, 2026, and the off-line subscription date is August 10, 2026.

Hyperliquid has launched pre-IPO perpetual contracts for Yushu.

Hyperliquid has launched pre-IPO perpetual contracts for Unitree, with the ticker UNITREE, currently priced at $54. Unitree is a leading Chinese civilian robotics company set to conduct its initial public offering (IPO) on the Shanghai Stock Exchange’s STAR Market. The offering will adopt a combined approach of strategic placement, institutional offline issuance, and retail online issuance. The company plans to issue 40,446,434 shares, accounting for 10% of its total post-IPO share capital, with the total post-IPO share count reaching 404,464,340. The preliminary inquiry date is August 5, 2026, and the institutional subscription date is August 10, 2026. The company has a special voting right mechanism; under the voting right differential arrangement, actual controller Wang Xingxing controls a total of 68.78% of the company’s voting rights.

A suspected a16z address transferred 979,000 HYPE tokens to Hyperliquid for staking 8 hours ago, valued at approximately $53.53 million.

According to on-chain analyst Yu Jin’s monitoring, two addresses suspected to belong to a16z transferred 979,000 HYPE tokens to Hyperliquid for staking 8 hours ago, with a value of approximately $53.53 million.

Hyperliquid burned approximately $760,000 worth of HYPE tokens over the past 24 hours, bringing its total burned value to $2.5 billion.

According to data from Onchain Lens, Hyperliquid burned approximately $760,210 worth of HYPE tokens in the past 24 hours. The data shows that in the latest reporting period, Hyperliquid generated around $777,200 in revenue, which was allocated to the Assistance Fund and HYPE holders. To date, Hyperliquid’s cumulative HYPE token burn has reached 46.19 million units, valued at roughly $2.5 billion at current prices, accounting for 4.62% of HYPE’s maximum total supply of 1 billion units.

Two new addresses opened 5x long positions on KAITO in the early morning, becoming the largest position for the token on Hyperliquid, and are now facing an unrealized loss of nearly $1 million.

According to on-chain analyst Ai Yi (@ai_9684xtpa), two new addresses opened a cumulative 5x long position in KAITO worth $6.94 million (notional value: $7.106 million) on Hyperliquid in the early hours of today, becoming KAITO’s two largest positions. Both addresses sourced their margin from OKX. KAITO has plunged nearly 20% in the past 24 hours, rapidly trimming its month-to-date gains, leaving the two addresses with an unrealized loss of $991,000.

A trader deposited 3.02 million USDC onto Hyperliquid and opened a 5x long position for 13,000 CRCL.

According to monitoring by Onchain Lens, a trader deposited 3.02 million USDC into Hyperliquid, opening a long position of 13,000 CRCL tokens with 5x leverage, with the position valued at roughly $776,000. The trader’s cumulative historical profit totals approximately $4.59 million.

Hyperliquid Launches Initial Version of HIP-4 Permissionless Deployment Testnet

Hyperliquid co-founder Jeff Yan announced in a post that the initial version of HIP-4’s permissionless deployment feature is now live on the testnet. Developers can learn about deployment operations via the relevant interface documentation. Subsequent features will be rolled out gradually, including configurable fees and more testnet templates. The team is currently collecting feedback from the community.

Hyperliquid HIP-3 concludes the Naver code auction, with a final transaction price of 516.99 HYPE.

Hyperliquid HIP-3 has completed the auction for the Naver transaction code, with the final transaction totaling 516.99 HYPE. The Naver in question refers to South Korea’s largest internet tech company, often dubbed “South Korea’s Google,” which boasts a strong local ecosystem advantage in the country, with highly integrated services spanning search, shopping, payments, and content.

SKHX's funding rate on Binance is now 2.1 times that on Hyperliquid.

According to Hyperinsight’s monitoring, the current funding rate for SKHX on Hyperliquid has risen to 0.0373% per hour, paid by long positions to short positions. On Binance, the SKHYNIXUSDT funding rate is approximately 0.3141% every four hours, about 2.1 times that of Hyperliquid over the same period. Calculated at current rates, holding a $10,000 long position would incur a 24-hour funding cost of roughly $89.6 on Hyperliquid and about $188.4 on Binance, a difference of approximately $98.8. Over the past 24 hours, the cumulative settled funding rate for SKHX on Hyperliquid stood at around 0.3925%, while the current hourly rate has risen to roughly 2.3 times the 24-hour average, accelerating cost increases for long positions.

Hyperliquid’s daily revenue exceeded $2.07 million, and it has burned a total of 4.61% of its total HYPE token supply.

According to data from Onchain Lens, Hyperliquid generated approximately $2.07 million in protocol fees over the past 24 hours and burned 21,080 HYPE tokens, equivalent to around $1.16 million at current prices. To date, Hyperliquid has cumulatively burned 46.1 million HYPE tokens, valued at roughly $2.54 billion, accounting for 4.61% of HYPE’s maximum total supply of 1 billion tokens.

Hyperliquid-related contracts saw their 24-hour trading volume hit an all-time high, exceeding $2.3 billion.

SKHX and SKHY, the SK Hynix-related contracts on the Hyperliquid platform, hit all-time highs in 24-hour trading volume over the past day, surging to a combined $2.339 billion—surpassing Bitcoin’s (BTC) $1.695 billion in the same period—to become the platform’s top active asset by trading volume. Specifically, SKHX posted a 24-hour trading volume of $1.858 billion with an open interest (OI) of $602 million, while SKHY recorded a 24-hour volume of $480 million and an open interest of $74.28 million.

The 24-hour trading volume of Hyperliquid-related contracts has surpassed Bitcoin, making it the platform's most active asset.

On the Hyperliquid platform, the combined 24-hour trading volume of SKHX and SKHY—contracts tied to SK Hynix—has reached $1.765 billion, surpassing BTC to become the platform’s top active asset by trading volume. SKHX posted a 24-hour trading volume of $1.327 billion with an open interest (OI) of $492 million, while SKHY notched $439 million in 24-hour trading volume and $71 million in open interest.

Hyperliquid responds to Hynix contract pinning incident: The Trade.xyz team is investigating and will issue an announcement once a conclusion is reached.

Hyperliquid officially responded to the price pinning incident in its SK Hynix (SKHYNIX) perpetual contract market, explaining how the HIP-3 market operates. Hyperliquid is a permissionless blockchain, where different teams can deploy and run markets on it as an infrastructure layer. The SKHYNIX perpetual contract was deployed and operated by the Trade.xyz team, which is currently investigating the incident and will share updates once a conclusion is reached. Secondly, HIP-3 deployers push their market’s mark price, oracle price, and external perpetual price inputs. Based on today’s posts and support tickets, it may be necessary to walk through this mechanism. Deployers can choose to adopt a mark price method similar to that used for perpetual contracts operated by validators (such as BTC). In this case, the protocol contributes one of three median components: the median of on-chain data (latest trade price, best bid, best ask). The other two components are pushed by the deployer and influence the final mark price. For a simplified example: if the median of on-chain data (latest trade price, best bid, best ask) is 100, but the deployer pushes (150, 151), the mark price will be 150. Note: As of press time, Hyperliquid officials have not provided further clarification. For more related reports, see "The Truth Behind Hyperliquid’s Pinning Incident: $868 Leveraged $500M Hynix Contract Market".

Three addresses profited $6.958 million by closing their short positions at a low point via Hyperliquid’s Auto-Deleveraging (ADL) mechanism, turning a pin spike event on the platform to their advantage.

According to on-chain analyst Ai Yi (@ai_9684xtpa), during this morning’s Hyperliquid Shanghai pin event, three addresses earned $6.958 million by having their short positions liquidated at low prices via the Auto-Deleveraging (ADL) mechanism. Specifically: the address starting with 0xd04 triggered ADL to liquidate 4,510 SKHX short positions at $931.36, netting $2.185 million; the address starting with 0xcaf liquidated 5,920 SKHX short positions at the same price, profiting $2.55 million; and the address starting with 0x84a liquidated 6,010 SKHX short positions at $931.36, gaining $2.223 million. Hyperliquid’s ADL (Auto-Deleveraging) serves as a final safeguard in extreme market conditions: when a forced liquidation position incurs a deficit and the HLP insurance fund cannot cover the loss, the system sorts profitable counterparties using the formula (mark price/entry price) × (notional position/account value), prioritizing the forced liquidation of high-profit, high-leverage positions at the mark price. This uses the unrealized profits of these positions to cover bad debts, ensuring the platform does not generate negative equity.

Abnormally low single-share trades in South Korean pre-market trading for SK Hynix sparked a chain of volatility, leading to a 17.9% flash drop in SKHX on Hyperliquid.

According to on-chain analyst Ai Yi (@ai_9684xtpa), this morning, SK Hynix (SKHX) on Hyperliquid experienced a 17.9% flash crash, driving the platform’s liquidation volume over the past four hours to surpass that of Binance. The abnormal movement was likely triggered by an unusual trade in South Korea’s NXT pre-market. Around 7 AM Beijing time, one share of SK Hynix was traded at 1.27 million won, equivalent to approximately $867. Due to insufficient pre-market liquidity, its stock price dropped by around 30% before triggering a trading halt. Hyperliquid’s oracle price subsequently followed the decline, pushing the SKHX contract price to plummet rapidly; the related price on Binance also fell due to arbitrage trades. The price has now returned to normal, but it remains unclear whether positions liquidated during the abnormal volatility will receive compensation.

The largest SKHX short position on Hyperliquid has expanded its unrealized profit to $6.1 million.

According to on-chain analyst Yu Jin’s monitoring, as SK Hynix’s stock price plummeted, the largest SKHX short address on Hyperliquid has seen its unrealized profit expand to approximately $6.1 million. The address shorted SKHX worth about $40.5 million at an average price of $1,275.7, and SKHX has now fallen back to around $1,083. In addition, the address also shorted Brent Crude Oil (BRENTOIL) worth about $19.15 million at an average price of $97.7, with current unrealized profit of roughly $2.43 million.

SKHX flash crash breaches Hyperliquid's backup liquidator, triggering forced liquidations of over $26 million.

Hyperinsight monitoring shows that after South Korea’s pre-market trading opened at 7 AM this morning, SKHX on Hyperliquid plunged rapidly from $1,128.2 to $927, with a maximum drop of 17.8% within one minute. As of press time, SKHX has rebounded to $1,097.9, up 18.4% from its low, with a 24-hour trading volume of $891 million. Market participants widely attribute the price anomaly to an oracle capturing extreme trade quotes during South Korea’s pre-market thin liquidity window. However, as of press time, the platform has not yet classified the event as a technical malfunction. More specifically, SKHX’s oracle synced the abnormally low price of South Korea’s NXT pre-market, which was then passed to the mark price, triggering a cascade of long position liquidations. Per trade.xyz’s rules, SKHX’s oracle price is calculated by dividing SK Hynix’s South Korean stock price by the USD/KRW exchange rate, and it accesses external executable quotes during South Korea’s pre-market session. During the liquidation wave, on-chain backup liquidation account 0x400…0001 took over 406 SKHX long positions at 7 AM, totaling around 27,100 contracts, at an average takeover price of roughly $969, with a nominal value of about $26.26 million and generating an realized loss of approximately $1.001 million. As SKHX’s price continued to drop, this backup account—originally tasked with absorbing user risk—was itself reverse-liquidated. The incident saw risk not stop after the position transfer, but instead spread further to the backup liquidation account. Compared to yesterday’s afternoon snapshot, SKHX’s open interest fell from 410,700 contracts to 353,600, a decrease of roughly 13.9%. Calculated at the mark price, the nominal position value dropped from around $508 million to $388 million, a decline of about 23.5%. Address: 0x40000000000000000000000000000000000000001

SKHX on Hyperliquid experienced a flash plunge, briefly falling more than 17% to $927, and has since rebounded to $1,112.

According to Hyperinsight monitoring, Hyperliquid's SKHX (nicknamed "Shanghai Lishi") experienced a price pin at 7 AM Beijing time, briefly plunging over 17% to $927 before rebounding to $1,112.

CXMT’s funding rate on Hyperliquid hit -0.1775%, with the annualized cost for short positions exceeding 1500%

As of press time, the current funding rate for the CXMT-USDC perpetual contract on Hyperliquid stands at -0.1775%, with an annualized funding rate of roughly -1552.44%. A negative funding rate means short position holders must pay funding fees to long position holders. Simply put, if a trader holds a CXMT short position with a notional value of 10,000 USDC, they will need to pay approximately 17.75 USDC per funding settlement based on the current rate. If this rate persists long-term, the annualized funding cost will reach around 1552%, meaning a trader holding a $10,000 short position would theoretically pay over $150,000 in funding fees over one year.

Hyperliquid’s testnet has launched the ‘Stars’ feature, supporting whitelisted trading for HIP-3 DEX addresses.

Hyperliquid’s testnet recently rolled out a new feature dubbed "Stars". This feature introduces an optional transaction address whitelist mechanism for the HIP-3 DEX, enabling deployers to restrict opening or adding positions exclusively to whitelisted addresses. Currently, the testnet whitelist has a cap of 10,000 addresses; unauthorized addresses can still deposit funds into accounts and submit only position reduction orders to close or cut existing positions. Community analysts believe this feature is set to expand the HIP-3 DEX’s use cases. For instance, tokenized stocks, real-world assets (RWAs), institutional indices, and other regulated products can use the address whitelist to open trading only to users who have completed KYC or meet eligibility requirements. New markets can also be tested first with market makers, partners, or community members, reducing risks of spam trading, wash trading, or malicious manipulation in early market stages. The design allowing non-whitelisted users to continue reducing positions also prevents users from being unable to exit holdings due to permission limits. Notably, the "Stars" feature does not change Hyperliquid’s base layer permissionless nature—it adds an optional access control function that developers can enable or disable as needed. This means scenarios like DAOs, trading clubs, private funds, or partner-exclusive markets can build closed trading markets with access mechanisms while retaining Hyperliquid’s advantages in matching engines and settlement layers. The feature remains in the testnet phase, and the official has not announced its specific use cases. Future applications will need to be confirmed after the mainnet launch and further developer documentation is released.

Changxin Technology saw price anchoring deviation on its first trading day, with Hyperliquid’s marked price trading at a 5.13% discount to its A-share price.

According to Hyperinsight’s monitoring, as of press time, Changxin Technology (688825.SH) A-share was trading at 49.50 yuan. At the same time, the oracle price of CXMT contracts on Hyperliquid stood at $7.31, while the mark price was $6.97: the mark price was $0.3345 lower than the oracle price, a discount of 4.57%; it was also $0.3771 lower than the converted A-share price, a discount of 5.13%. When converted to RMB, Hyperliquid’s mark price corresponds to approximately 46.96 yuan, about 2.54 yuan lower than Changxin Technology’s actual stock price; the oracle price translates to roughly 49.21 yuan, with a difference of only 0.29 yuan from the actual stock price.

Jiang Zhuoer: Changxin Memory will likely hit its all-time high on its first day of trading, and recommended pairing it with hedging operations on Hyperliquid.

Jiang Zhuoer, founder of BTC.TOP (B.TOP), posted that Changxin Memory will likely open higher, surge then pull back, hitting its all-time high on the first trading day. The ideal play is to buy at the A-share opening, sell during the midday H-share-driven rally, then sell on A-share and buy back on H-share the next day to square positions. Without H-share exposure, investors will be trapped by the T+1 trading rule, possibly holding the stock for a lifetime just like PetroChina.

Hyperliquid has cumulatively burned 47.27 million HYPE tokens, accounting for 4.73% of its maximum supply.

According to monitoring by Onchain Lens, Hyperliquid generated approximately $1.4 million in fees over the past 24 hours, burning 20,640 HYPE tokens valued at around $1.2 million. To date, Hyperliquid has cumulatively burned 47.27 million HYPE tokens, worth roughly $2.76 billion, accounting for 4.73% of its maximum total supply of 1 billion HYPE.

Whale deposits 557,902 $HYPE ($32.87M) from FalconX into Hyperliquid for staking

Another whale received 557,902 $HYPE ($32.87M) from #FalconX and deposited it into Hyperliquid for staking.

A crypto whale received 557,902 HYPE tokens from FalconX and deposited them for staking on Hyperliquid.

According to Lookonchain's monitoring, a whale address received 557,902 HYPE tokens from FalconX, currently valued at approximately $32.87 million. Subsequently, the whale deposited all the HYPE tokens into Hyperliquid for staking.

Over the past seven days, Hyperliquid has repurchased and burned 130,900 HYPE tokens, valued at $7.65 million.

According to Onchain Lens monitoring, Hyperliquid repurchased and burned 130,900 HYPE tokens over the past seven days, valued at roughly $7.65 million, with an average repurchase price of $58.45. A total of 130,900 HYPE tokens were removed from circulation this week.

Last week, Hyperliquid’s RWA trading volume surpassed its crypto asset trading volume for the first time, accounting for 54% of the platform’s total trading volume.

ARK Invest Research Head Lorenzo Valente published a report noting Blockworks data indicates Hyperliquid’s real-world asset (RWA) transactions built on the HIP-3 protocol are growing rapidly. Last week, Hyperliquid’s RWA trading volume surpassed crypto asset trading for the first time, accounting for 54% of the platform’s total trading volume. Individual stock trading emerged as the fastest-growing segment: since June, its volume has outpaced indices and commodities, now making up roughly 61% of Hyperliquid’s total RWA volume, signaling on-chain financial markets are expanding beyond pure crypto assets to traditional assets. Data shows last week, total perpetual contract trading volume across decentralized exchanges (DEXs) hit ~$79 billion, with Hyperliquid contributing ~$50 billion. Of that, HIP-3 RWA volume reached $26 billion—even exceeding the combined crypto perpetual contract volume of all other DEXs. RWA trading may not fully consolidate around existing crypto trading platforms; distinct asset classes could develop their own leading players, and future competition among trading platforms may shift from vying for crypto asset traffic (such as BTC, ETH, SOL) to competing for on-chain trading demand for real assets like stocks and commodities.

A crypto whale deposited $31.12 million into Hyperliquid over the past three days, while simultaneously shorting AI stocks and crude oil.

According to monitoring by Onchain Lens, a Hyperliquid whale has deposited 31.12 million USDC over the past three days and currently holds $64.9 million in short positions. The breakdown of its current positions is as follows: $43.93 million in short positions on SK Hynix, $17.07 million in short positions on Brent crude oil, plus additional short positions on Samsung, NVIDIA, and other assets.

A crypto whale deposited an additional $16 million USDC into Hyperliquid, bringing its current short position to $43.9 million.

According to monitoring by OnchainLens, a crypto whale deposited a total of $16 million USDC into the Hyperliquid platform over the past 24 hours, with the latest deposit amounting to $11 million. The wallet currently holds short positions worth approximately $43.9 million on Hyperliquid, including $28.3 million in SKHX shorts, $14.56 million in BRENTOIL shorts, as well as short positions in assets such as HIMS, SMSN, and NVDA.

A Hyperliquid whale staked 115,000 HYPE tokens today after earning over $1 million in profit.

According to monitoring by Onchain Lens, a Hyperliquid whale carried out new on-chain operations today after earning over $1 million in profits, staking 115,000 HYPE (worth roughly $7.2 million). The address currently holds: 115,000 staked HYPE, 100,000 HYPE in available balance, and $1.1 million in USDC. For today’s trades, the whale closed two short positions: a $3.5 million short on $MU, netting $439,100 in profit; and a $2.42 million short on $SKHX, generating $581,900 in gains. The address still holds a large cumulative asset size, with the market closely monitoring its subsequent trading moves.

Hyperliquid will require prediction market deployers to stake 500,000 HYPE tokens, valued at approximately $30.4 million.

Hyperliquid announced plans to introduce a permissionless prediction market deployment mechanism via HIP-4, requiring developers to stake 500,000 HYPE tokens (valued at approximately $30.4 million) to create prediction markets. The mechanism aims to mitigate risks of low-quality markets, incorrect settlements, or malicious market creation through capital thresholds and penalty mechanisms. Per Hyperliquid’s announcement, the permissionless deployment feature will first launch on the testnet, with a planned mainnet rollout via future network upgrades. Validators will vote to finalize standardized result templates, and developers can build markets based on these templates. Each deployer can create up to 100 outcome options initially, while deployers are responsible for defining market rules and completing settlements in line with template requirements. Staked HYPE tokens will be locked for six months. If a market is ill-defined, settled incorrectly, or fails to complete proper settlement within a week, validators can vote to slash the staked assets. Hyperliquid noted that predictable events cover a broader scope than spot and perpetual contract markets, making permissionless prediction market deployment critical for expanding on-chain use cases. Relevant rules may be further adjusted ahead of the testnet launch.

Abraxas Capital further increases its short positions on Hyperliquid, expanding its BTC and ETH short positions.

According to monitoring by OnchainLens, Abraxas Capital has deposited 3 million USDC into Hyperliquid and once again added to its short positions. Currently, it holds approximately 796.4 BTC short positions (valued at around $51.5 million) and 31,640 ETH short positions (worth roughly $59.2 million). Both its BTC and ETH short positions have increased significantly since the last disclosure two days ago.

Multicoin Capital leads Trasia Labs' $1.75 million seed round, to expand into Hyperliquid's Asian perpetual trading market

Multicoin Capital, as the sole institutional investor, has injected $1.75 million into Trasia Labs’ seed round, marking its official entry into the Hyperliquid ecosystem. Trasia is a perpetual contract trading platform built natively on Hyperliquid, primarily targeting the Asian market. Co-founded by Mable Jiang—former partner at Multicoin Capital and ex-chief revenue officer of the Stepn team—and Web3 practitioner Edison Chen, Trasia officially launched its first web version on July 17, supporting both Chinese and English. A mobile app is scheduled for release in August, and the platform has already launched an invitation-only Asia Points loyalty program. Currently, Trasia integrates with Hyperliquid’s native perpetual market via a non-custodial model; it plans to roll out its own perpetual contracts based on the HIP-3 protocol, focusing on asset categories of high interest to Asian investors, including AI infrastructure and pre-IPO assets. Officials stated that over $35 million in HYPE and USDC has been allocated to support the Asian stock perpetual market and related ecosystem growth.

Abraxas Capital deposits 3 million USDC into Hyperliquid to add to its short positions.

According to monitoring by Onchain Lens, Abraxas Capital has deposited 3 million USDC into Hyperliquid. The firm is further ramping up its short positions, including: Bitcoin (BTC) short positions rising to 364.9 units, with a notional value of approximately $23.3 million; Ethereum (ETH) short positions increasing to 19,020 units, with a notional value of around $35.08 million.

Hyperliquid co-founder Jeff: The biggest problem in the crypto industry is the difficulty of attracting top entrepreneurial talent.

Hyperliquid co-founder Jeff Yan recently told a VALR podcast that one of the biggest challenges facing the crypto and fintech sectors today is failing to attract enough top-tier startup talent. Yan noted that driven by factors like the AI boom and social prestige, many of the brightest young people are uncertain which fields will deliver the most value, leading few to pursue careers in crypto. He emphasized that rebuilding the financial system from first principles and translating academic theories into scalable market designs is highly meaningful work, and urged young entrepreneurs to look beyond surface-level value, focus on the world’s real problems, and engage in the development and innovation of on-chain finance.

A newly created wallet deposited 5 million USDC into Hyperliquid and opened a 2x long position in Changxin Storage worth $1.38 million.

According to monitoring by Lookonchain, a newly created wallet deposited 5 million USDC into Hyperliquid and went long on 194,175 CXMT tokens with 2x leverage, a position valued at $1.38 million with a liquidation price of $4.

Hyperliquid's TSMC contract rallied then pulled back, dropping over 4% intraday.

According to market data, Hyperliquid-listed contracts tied to Taiwan Semiconductor Manufacturing Co. (TSM) surged intraday before pulling back, with their decline once widening to over 4%. Earlier, TSMC released its Q2 2026 financial report: net profit rose 77% year-on-year to NT$706.6 billion, hitting a record high and beating market expectations; Q2 revenue grew 36% year-on-year to NT$1.27 trillion, while high-performance computing (HPC) segment revenue increased 20% quarter-on-quarter.

Hyperliquid Platform Traders' BTC Long Positions Hit a Stage High

On-chain analytics platform Glassnode said in a report that top traders on the Hyperliquid exchange are aggressively going long on BTC. Their long positions are currently at a high level in Glassnode’s historical records, exceeding the level hit when Bitcoin previously rallied to roughly $83,000, signaling that speculative long demand remains robust in the market at current price levels.