Hyperliquid (HYPE) — Onchain News & Whale Tracking

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.

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.