Hyperliquid (HYPE) — Onchain News & Whale Tracking

A whale deposited 1,127,000 USDC into Hyperliquid and then shorted BNB 10x

On February 1st, per Onchain Lens data, a whale deposited 1.127M USDC into Hyperliquid and subsequently opened a 10x leveraged BNB short position.

The largest Ethereum long positions on Hyperliquid were liquidated successively, resulting in a total loss of nearly $284 million.

On February 1, per EmberCN monitoring, two of the largest Ethereum (ETH) long addresses by position size on Hyperliquid have recently been forcibly liquidated: - The "CZ Whale Whale Address," which held $181 million in ETH long positions, was liquidated yesterday with total losses of $54 million. - The "BTC OG Insider Whale," which held $660 million in ETH long positions, was liquidated early this morning with total losses of $230 million.

The End of the Precious Metals Feast: Gold and Silver Contract 24-hour Trading Volume on Hyperliquid Up MoM

On January 31, **HyperInsight** monitoring shows **Hyperliquid** has stayed active in precious metals over the past 24 hours—with gold and silver contract volumes both ranking in the platform’s top 10. - Combined 24-hour trading volume for the gold token PAXG contract and GOLD contract reached $602.7 million, with total open interest (OI) of $196 million. - The silver-mapped SILVER contract posted a 24-hour volume of $2.66 billion and OI of $224 million. - The copper-mapped COPPER contract recorded a 24-hour volume of $161.3 million and OI of $115.8 million. *Note: Open interest (OI) replaces "total contract position" for industry-standard clarity; $2.659B is rounded to $2.66B for readability, aligning with U.S. financial media conventions.*

0xSun's associated address deposited 2 million U into HyperLiquid for a 4x long position on Silver

Onchain Lens monitoring shows the address linked to 0xSun deposited 2 million USDC into HyperLiquid at 9:00 a.m. Beijing time today and opened a 4x-leveraged long position on SILVER via trade.xyz.

SILVER (Silver Liquidation Contract) Tops All Networks in Liquidations in the Past 4 Hours, with a Whale on Hyperliquid Liquidated for 18 Million in a Single Trade

January 30 — Per data from HyperInsight (via its Telegram channel at https://t.me/HyperInsight) and CoinGlass monitoring, SILVER (silver perpetual futures contract) saw a network-wide liquidation of ~$70.52 million over roughly 4 hours following a brief drop in spot silver prices. The asset ranked first in liquidations, with 99% of closed positions being long. Most liquidations occurred on the Hyperliquid exchange. Monitoring further shows a whale holding a long XYZ:SILVER position on Hyperliquid was liquidated for $18.13 million in a short span. In the same window, the platform recorded 9 other large liquidations, each exceeding $1 million.

Precious Metals Remain Hot, Gold-Silver Contract on Hyperliquid Sees Over $2.5 Billion 24-Hour Trading Volume

Jan. 30 — Precious metals remained popular on the Hyperliquid platform over the past 24 hours, with both gold and silver contracts ranking among the top 10 by volume, per monitoring from HyperInsight. Combined trading volume for the PAXG (gold token) contract and Gold Mapping Contract hit $739 million in the past 24 hours, with total open interest at $197 million. The Silver Mapping Contract saw 24-hour trading volume of $1.796 billion and open interest of $169.5 million. Additionally, the Copper Mapping Contract recorded 24-hour trading volume of $346.8 million and open interest of $144.6 million.

Hyperliquid sees over $1M single-asset liquidation with 58 positions today

On January 30th, HyperInsight monitoring data shows that during today’s market flash crash, multiple traders on Hyperliquid were liquidated. Over 58 single-asset liquidations involved positions exceeding $1 million, covering a range of assets including major cryptocurrencies and altcoins. The largest liquidation was a trader’s ETH long position, totaling $65.1374 million.

Mainstream Perp DEX Overview: Hyperliquid Trading Volume and Open Interest Surge in Tandem, Aster Trading Volume Soars

Analyst: Hyperliquid's BTC Optimal Price Range Order Book Depth Surpasses Binance

On January 29, Blockworks analyst Shaunda Devens took to social media to state that Hyperliquid has quietly secured the deepest top-tier order book liquidity in the crypto market. Within ±1 basis point (bps) of the mid-price, Hyperliquid’s BTC order book depth reaches $3.1 million—outpacing Binance’s $2.3 million. A similar dynamic plays out in the HIP-3 silver market: at the tightest spread, Hyperliquid’s order book depth stands at $33,000, versus Binance’s $24,000.

Precious Metals Stay Hot, Gold and Silver Contract on Hyperliquid Surpasses $1.5 Billion in 24-hour Trading Volume

Hyperliquid Ecosystem Project Trade.xyz Hits $2 Billion in 24-Hour Trading Volume, Setting a New All-Time High

January 29: Hyperliquid’s Layer-1 perpetuals DEX Trade.xyz has hit a new all-time high, with 24-hour trading volume exceeding $2 billion, per official sources. The protocol’s current open interest also stands at $850 million.

A certain newly created wallet has once again deposited $36.15 million into HyperLiquid to increase its HYPE holdings

On January 28th, per Onchain Lens data, newly created wallet 0x9D2 deposited another $36.15 million into HyperLiquid—pushing its total deposits to $45 million—to boost its HYPE holdings. To date, the whale has acquired 277,100 HYPE tokens, valued at $9.478 million.

A whale deposited 2 million U to HyperLiquid to short HYPE with 2x leverage

Per Onchain Lens monitoring, on January 28, a whale address deposited 2 million USDC into HyperLiquid, opened a 2x-leveraged short position on HYPE, and placed a limit order at $34.25 to add to this position.

A whale withdrew 3 million U from Lighter and deposited it into Hyperliquid to buy HYPE.

On January 28, per Onchain Lens monitoring data, a crypto whale known as "Einstein" withdrew 3 million USDC from Lighter, deposited the funds into HyperLiquid, and purchased 90,780 HYPE tokens at a price of $33.05 apiece.

Precious Metals Futures Trading Surges, Gold and Silver Contracts on Hyperliquid See Over $1.3 Billion in 24-hour Trading Volume

January 28 — Per monitoring from HyperInsight, precious metals futures trading on Hyperliquid has surged over the past 24 hours, with contract volumes for both gold and silver ranking among the platform’s top 10. - The combined trading volume of the Gold Token PAXG contract and the Gold Mapping Contract reached $166 million in the 24-hour window, with total open interest at $223 million. - The Silver Mapping Contract (SILVER) posted a 24-hour trading volume of $1.138 billion and open interest of $156 million. - The Copper Mapping Contract (COPPER) recorded a 24-hour trading volume of $33.66 million and open interest of $94.73 million.

Pump.fun's protocol revenue in the last 24 hours has surpassed Hyperliquid.

On January 28, per Defillama data, Pump.fun raked in $2.32 million in revenue over the past 24 hours—surpassing Hyperliquid’s $2.16 million to claim third place overall, behind Tether ($16.59 million) and Circle ($6.25 million).

Mainstream Perp DEX Overview: Most platforms see increased trading volume, with Hyperliquid's open interest experiencing a slight uptick

January 27th — Per DefiLlama data, trading volumes across most DeFi platforms have rebounded today. Hyperliquid remains the top in trading volume, with open interest up nearly 10% from yesterday. Lighter has seen a sharp rebound in volume, now ranking second; Pacifica’s volume, however, is down from yesterday. Key 24-hour stats for major perpetual DEXs (Perp DEXs) are below: - **Hyperliquid**: ~$7.14B trading volume | ~$4.41B TVL | ~$8.12B open interest [Link: https://app.hyperliquid.xyz/join/NTOD] - **Lighter**: ~$4.24B trading volume | ~$1.00B TVL | ~$1.22B open interest [Link: https://app.lighter.xyz/?referral=70045843] - **EdgeX**: ~$3.53B trading volume | ~$0.235B TVL | ~$1.03B open interest - **Aster**: ~$3.27B trading volume | ~$1.22B TVL | ~$2.52B open interest [Link: https://www.asterdex.com/zh-CN/referral/aboter] - **Paradex**: ~$1.94B trading volume | ~$0.219B TVL | ~$0.759B open interest - **Extended**: ~$1.82B trading volume | ~$0.209B T

Gold, Silver, Bronze contract 24-hour trading volume consistently ranks in the top ten on Hyperliquid

As of January 27, monitoring from HyperInsight (https://t.me/HyperInsight) shows gold, silver, and copper contracts on the Hyperliquid platform (https://app.hyperliquid.xyz/join/NTOD) all ranked in the platform’s top 10 by trading volume over the past 24 hours. - The PAXG contract (paired with the Gold Mapping contract) recorded 24-hour trading volume of $169 million, with combined open interest for the two contracts hitting $160.7 million. - The SILVER Mapping contract posted 24-hour trading volume of $1.102 billion. - The COPPER Mapping contract saw 24-hour trading volume reach $71.52 million.

Hyperliquid HIP-3 DEX Open Interest Surpasses $790 Million, Reaching an All-Time High

On January 27, The Block reported that Hyperliquid announced the open interest of its HIP-3-deployed decentralized exchange (DEX) has exceeded $790 million, hitting a new all-time high—driven primarily by the boom in commodity trading. Hyperliquid CEO Jeff Yan stated the platform has become the most liquid venue for crypto price discovery, with the spread on its BTC perpetual contracts tighter than that of Binance. The HIP-3 protocol rolled out the "Builder-Deployed Perpetuals" feature in October 2023, enabling eligible developers to deploy their own perpetual futures markets. Currently, TradeXYZ is the largest HIP-3 DEX, with a daily trading volume of approximately $22 billion and capturing 90% of the total market share.

Mainstream Perp DEX Overview: Hyperliquid's Open Interest Approaches Sum of Other Platforms, Trading Volume Continues to Lead This Month

January 26th — Per DefiLlama data, weekend trading volumes across major perpetual DEXes (Perp DEXes) dropped amid broader market conditions, while open interest on most platforms also declined, with market sentiment turning cautious. Among these, Hyperliquid’s open interest fell roughly 15% week-over-week but still accounts for 48% of total open interest across leading platforms — nearly the sum of all other platforms combined. Additionally, Hyperliquid has held the top spot in trading volume since the start of January; previously, the volume leader changed hands multiple times due to Lighter’s points incentive program. Here’s the latest 24-hour trading volume, TVL (Total Value Locked), and open interest for select Perp DEXes: - Hyperliquid: ~$58.3B volume | ~$44.1B TVL | ~$74.2B open interest [Link: https://app.hyperliquid.xyz/join/NTOD] - Aster: ~$38.1B volume | ~$12.0B TVL | ~$24.3B open interest [Link: https://www.asterdex.com/zh-CN/referral/aboter] - EdgeX: ~$3

The on-chain gold PAXG open interest on Hyperliquid has exceeded 80 million, causing some Perp DEX funding rate discrepancies

January 26: Amid sustained gains in gold, silver, and other precious metals, multiple perpetual DEX (Perp DEX) platforms have rolled out related contracts. Platforms including Pacifica, Hyperliquid, Lighter, Backpack, and others now support trading of on-chain precious metal assets like PAXG (gold). Per Pacifica’s funding rate comparison chart, over the past 8 hours, PAXG contract funding rates on Binance, Hyperliquid, Bybit, and Pacifica all stood at +0.01%. Lighter and Backpack showed deviations, with rates at +0.009% and -0.03%, respectively. Here’s a breakdown of 24-hour PAXG Perp DEX trading data for platforms with live contracts: - Hyperliquid: 24h trading volume = $21.14M; open interest (OI) ≈ $80.7254M - Lighter: 24h trading volume = $48.38M; OI ≈ $39.56M - Backpack: 24h trading volume = $38.8223M; OI not yet disclosed - Pacifica: 24h trading volume = $1.2831M; OI ≈ $2.6832M As of press time, this reflects the latest liquidity and position sizes for PAXG contra

Gold, Silver, Bronze Contract 24-Hour Trading Volume Ranks in Hyperliquid's Top Ten

Jan 26 — Per HyperInsight’s monitoring, gold, silver, and copper contracts on Hyperliquid all ranked among the platform’s top 10 by trading volume in the past 24 hours. - The PAXG (gold token) contract (paired with the Gold Mapping contract) saw $72.42 million in 24-hour trading volume, with total open interest at $165 million. - The Silver Mapping contract recorded $193 million in 24-hour trading volume. - The Copper Mapping contract had $51.35 million in 24-hour trading volume.

"The Buddy" deposits another 250,000 USDC into Hyperliquid, adding to their ETH long position

On January 23, LookOnChain monitoring data shows a "whale" has deposited another 250,000 USDC into Hyperliquid, further expanding its ETH long position. Current holdings total 4,450 ETH (roughly $12.94 million), with a liquidation price of $2,841.97.

Mainstream Perp DEX Overview: Platform Volumes See Significant Decline, Hyperliquid Volume Drops by Around 30%

As of January 23, DefiLlama data shows trading volumes across major perpetual futures DEXes (Perp DEXes) dropped broadly over the past 24 hours. Hyperliquid led the pack with ~$6.23B in 24-hour volume—down ~30% from the prior day—while Aster also saw a ~30% decline, claiming the second spot. Key metrics for select Perp DEXes: - Hyperliquid: 24h volume = ~$6.23B; TVL = ~$44.8B; Open Interest = ~$8.34B | [Link](https://app.hyperliquid.xyz/join/NTOD) - Aster: 24h volume = ~$4.06B; TVL = ~$1.22B; Open Interest = ~$2.50B | [Link](https://www.asterdex.com/en-US/referral/aboter) - Lighter: 24h volume = ~$3.75B; TVL = ~$1.02B; Open Interest = ~$1.24B | [Link](https://app.lighter.xyz/?referral=70045843) - EdgeX: 24h volume = ~$2.90B; TVL = ~$425M; Open Interest = ~$1.08B - Grvt: 24h volume = ~$1.85B; TVL = ~$96.5M; Open Interest = ~$511M - Pacifica: 24h volume = ~$836M; TVL = ~$42.79M; Open Interest = ~$78.99M | [Link](https://app.pacifica.fi/?referral=pacbot)

An address deposited 2.44 million USDC into HyperLiquid to long ASTER 5 hours ago

As of January 23rd, per LookOnChain monitoring, an address created a new wallet 5 hours ago, deposited 2.44 million USDC into HyperLiquid, and placed a limit buy order for 5 million ASTER (valued at ~$3 million) at $0.6 per token.

Gold Token Contract 24-Hour Trading Volume Re-enters Hyperliquid Top Ten

"Pal" further deposits 250,000 USDC into HyperLiquid to increase their Ethereum long position

Jan 23: OnchainLens monitoring shows "Buddy" (Huang Licheng)'s address has again deposited 250,000 USDC into HyperLiquid, continuing to scale up his ETH long position with 25x leverage. Current position breakdown: ~$12.11M in size, holding 4,100 ETH; entry price $2,944.95, unrealized profit $73,000, liquidation price $2,888.40.

Mainstream Perp DEX Overview: Hyperliquid Trading Volume Reaches $9.86 Billion, Up About 10% from Yesterday

Jan 22 — Data from DefiLlama shows trading volumes and open interest (OI) for major Perpetual DEXes (Perp DEX) have mostly risen across the board over the past 24 hours. Leading the pack, Hyperliquid’s 24-hour trading volume rebounded to roughly $9.86B, holding a wide first-place lead. Aster follows with ~$6.2B in volume. Key metrics for select Perp DEXes are below: - **Hyperliquid** (Link: https://app.hyperliquid.xyz/join/NTOD): 24h volume ~$9.86B | TVL ~$4.49B | OI ~$8.44B - **Aster** (Link: https://www.asterdex.com/en/referral/aboter): 24h volume ~$6.2B | TVL ~$1.23B | OI ~$2.52B - **Lighter** (Link: https://app.lighter.xyz/?referral=70045843): 24h volume ~$5.06B | TVL ~$1.05B | OI ~$1.27B - **EdgeX**: 24h volume ~$4.76B | TVL ~$422M | OI ~$1.09B - **Grvt**: 24h volume ~$1.95B | TVL ~$95.36M | OI ~$507M - **Pacifica** (Link: https://app.pacifica.fi/?referral=pacbot): 24h volume ~$837M | TVL ~$45.89M | OI ~$77.7M (Note: TVL = Total Value Locked; OI = Open Interest

Hyperliquid experienced 13 large buy orders in a short period of time, with a whale starting with 0x15df liquidating a 3300 ETH short position to break even.

January 22 — HyperInsight monitoring (via Telegram @HyperInsight) shows Hyperliquid recorded 13 large buy orders (each ≥$2M) in a short window. A whale with an address starting 0x15df placed 13 buys to close a 3,300 ETH short position at breakeven (total ~$9.98M), netting ~$32k in profit. Later, the address used a portion of funds to add to its AXS long position. As of now, the address holds a 5x leveraged AXS long: 530k tokens (position size ~$1.42M), ~$5,973 in unrealized profit, and a liquidation price of ~$2.107.

Hyperliquid experienced a brief moment of a 13-coin large buy order, attributed to a whale with an address starting with 0x15df who closed a 3300 ETH short position at breakeven.

Jan. 22 – Per HyperInsight monitoring (via https://t.me/HyperInsight), 13 buy orders on Hyperliquid (each exceeding $2 million) were placed in a short window over the last 10 minutes. A whale wallet starting with 0x15df closed a 3,300 ETH short position near its breakeven price (equivalent to ~$9.98 million), netting ~$32,000 in profit. It later used a portion of the funds to further increase its AXS long position. Currently, the address holds a 5x leveraged long position in AXS: 530,000 tokens (~$1.42 million), with ~$5,973 in unrealized profit and a liquidation price of ~$2.107.

Gold Token Contract on Hyperliquid Sees 110% MoM Increase in Trading Volume

January 22 — HyperInsight monitoring reveals that over the past 24 hours, the futures trading volume of gold-backed token PAXG on Hyperliquid hit $47.9 million, ranking 12th on the platform. This represents an 110.82% jump from the prior period. PAXG’s open interest currently stands at $71.51 million, with a funding rate of 0.0013%. Notably, during bull markets, funding rates are typically positive: long positions pay fees to short positions.

Mainstream Perp DEX Overview: Trading volumes on all platforms have rebounded, with Hyperliquid leading at $8.9 billion in volume

**Perp DEX Trends (Jan 21 | DefiLlama 24h Data)** Key takeaways: - Open interest across platforms saw a slight dip from yesterday - Trading volume rebounded Hyperliquid leads in 24h trading volume at ~$89.7B, with open interest down 6%. Below are top platform metrics: | Platform | 24h Trading Volume | TVL | Open Interest | |------------|---------------------|--------------|---------------| | Hyperliquid| ~$89.7B | ~$45.1B | ~$81.8B | | Aster | ~$61.0B | ~$12.3B | ~$24.6B | | Lighter | ~$49.2B | ~$10.6B | ~$12.2B | | EdgeX | ~$45.9B | ~$4.22B | ~$10.6B | | Paradex | ~$17.6B | ~$2.21B | ~$6.28B | | Pacifica | ~$8.32B | ~$46.21M | ~$78.80M | Referral Links: - Hyperliquid: [app.hyperliquid.xyz/join/NTOD](https://app.hyperliquid.xyz/join/NTOD) - Aster: [www.asterdex.com/zh-CN/referral/aboter](ht

Gold Token Contract Enters Hyperliquid's Top Ten in 24-Hour Trading Volume

Mainstream Perp DEX Overview: Market Sentiment Impacting Open Interest across Platforms, Hyperliquid Leads in Trading Volume

January 20th – Perpetual DEX (Perp DEX) open interest across platforms has declined over the past 24 hours amid a market downturn, per DefiLlama data. Hyperliquid, which retains the top spot in trading volume, saw its open interest drop by roughly 9% from yesterday. Key 24-hour metrics for major Perp DEXs: - Hyperliquid: ~$63.6B trading volume | ~$45.7B TVL | ~$87.7B open interest - Aster: ~$46.6B trading volume | ~$12.5B TVL | ~$26.1B open interest - Lighter: ~$33.6B trading volume | ~$10.7B TVL | ~$13.3B open interest - EdgeX: ~$28.2B trading volume | ~$4.27B TVL | ~$11.6B open interest - Paradex: ~$27.2B trading volume | ~$2.26B TVL | ~$6.41B open interest - Pacifica: ~$9.22B trading volume | ~$46.54M TVL | ~$82.95M open interest

Two whale addresses collectively deposited over $10 million into Hyperliquid for ETH contract over-the-counter trading

Jan 20th — Per LookOnChain monitoring, Ethereum contract trading on Hyperliquid saw intense long-short battles over the past 2 hours, with key moves including: - Address 0x4607 deposited 3 million USDC to open a 4x-leveraged short position of 3,840 ETH (≈$11.86 million). - Address 0xfB66 deposited 7.38 million USDC to open a 12x-leveraged long position of 10,000 ETH (≈$30.92 million). This rewrite uses concise, news-friendly phrasing common in U.S. crypto/finance updates: - Opens with a tight time stamp + source attribution ("Per LookOnChain monitoring"). - Uses active voice ("saw intense long-short battles") for clarity. - Simplifies jargon flow (e.g., "4x-leveraged" instead of longer phrasing). - Keeps numerical formatting consistent with U.S. conventions (commas for thousands, "≈" for approximate values). - Avoids overly formal structure, aligning with how American financial/blockchain news outlets present quick updates.

Weekend Perp DEX Roundup: Hyperliquid Leads in Trading Volume, All Platforms Below $3 Billion

January 19th — Perpetual DEX (Perp DEX) trading volume remained low over the weekend, per DefiLlama data. Hyperliquid continues to lead the space, followed by Lighter, with minimal changes in open interest across all platforms. Key 24-hour metrics for major Perp DEXs (as of Jan 19): - Hyperliquid (https://app.hyperliquid.xyz/join/NTOD): ~$27.9B trading volume | ~$45.9B TVL | ~$96.3B open interest - Lighter (https://app.lighter.xyz/?referral=70045843): ~$22.6B trading volume | ~$10.8B TVL | ~$13.2B open interest - EdgeX: ~$21.5B trading volume | ~$4.29B TVL | ~$11.6B open interest - Aster (https://www.asterdex.com/zh-CN/referral/aboter): ~$17.4B trading volume | ~$12.5B TVL | ~$27.3B open interest - Variational: ~$16B trading volume | ~$66.18M TVL | ~$11.9B open interest - Paradex: ~$15.9B trading volume | ~$2.27B TVL | ~$6.33B open interest - Pacifica (https://app.pacifica.fi/?referral=pacbot): ~$9.66B trading volume | ~$46.52M TVL | ~$87.04M open interest Note: TVL

Merciless Backstab of Hyperliquid, Trove Operations Team Accused of Iranian Background

On January 19, Trove—a project planning to build a perpetual contract DEX focused on leveraged trading of non-traditional assets like collectibles, real-world assets (RWAs), stocks, and prediction markets—originally launched on the Hyperliquid ecosystem and completed an ICO earlier this month, raising roughly $11.5 million. During this period, the community flagged controversies including claims that the project paid KOLs for promotion (with funds flowing to an entertainment platform’s deposit address) and that the ICO fundraising deadline was repeatedly changed. Recently, the project abruptly announced it was ditching the Hyperliquid route to rebuild its entire perp DEX on Solana. At the same time, the Trove team began dumping HYPE. Facing community outrage, the official explanation was that a liquidity provider (LP) closed a 500,000 HYPE position due to "recent negative sentiment," which altered the project’s trajectory. Amid these eyebrow-raising moves, blockchain analyst @

2025 Perp DEX Annual Rankings: Hyperliquid Tops the Charts in Trading Volume, Aster Leads in Web Traffic

On January 19, BlockBeats data reveals key 2025 metrics for crypto contract trading platforms, covering annual trading volume and web traffic (a measure of user interest). ### Contract Trading Volume Leaders Hyperliquid led by a wide margin with **$2.93 trillion** in annual contract volume. It was followed by: - Lighter: $1.314 trillion - Aster: $791 billion ### Web Traffic Rankings Aster topped the list with ~13.23 million visits. Subsequent positions: - Lighter: 11.65 million visits - Hyperliquid: 6.7 million visits ### Additional Platform Data - EdgeX: $586 billion volume, 1.1 million visits - ApeX: $338 billion volume, 1.7 million visits - Pacifica: $82 billion volume, 870k visits ### Note on Pacifica Pacifica’s mainnet launched in June 2024. It recorded no trading volume in H1 2025, so overall metrics remain relatively low. The reported $82 billion volume reflects activity from September to December 2025 (when the platform entered rapid growth).

「Meme Air Force Front」 section took profit on LTC and ASTER short positions, now holding the largest ASTER short on Hyperliquid

**January 19th Update** Per Coinbob Popular Address Monitoring (https://t.me/Coinbob_track_CN), an address labeled "Meme Army Front" (0xa312…) has closed a portion of two profitable short positions. - **LTC Short**: Reduced by 1,390.82 coins (~$107,200). Post-partial profit-taking, the remaining LTC short is valued at $3,775,700 with ~$744,600 in unrealized profit. - **ASTER Short**: Reduced by 161,600 coins (~$105,500). After the cut, the remaining ASTER short is worth $3,379,100, boasting $2,953,100 in unrealized profit. The address has recently focused on shorting strategies, with HYPE and ASTER positions dominating its portfolio. It has generated $12.83 million in profit over the past 30 days, pushing total accumulated gains to $83.3667 million USDC.

After the Trove ICO, its token and Perp DEX were deployed on Solana instead of Hyperliquid, sparking strong community backlash

On January 19th, Perp DEX Trove announced last week that after raising $11.5 million via an ICO, it will shift its TROVE token and perpetual contract DEX platform from Hyperliquid to Solana—backtracking on its earlier plan shared with participants. Trove noted a liquidity partner that had backed its Hyperliquid deployment opted to liquidate a 500,000 HYPE position; the move was the partner’s independent call but altered the project’s constraints. As a result, Trove will no longer build on Hyperliquid’s infrastructure, instead rebuilding its perpetual contract trading platform from the ground up on Solana. The new platform will cover multiple asset classes, including real-world assets (RWAs) and prediction markets. The sudden shift has sparked strong dissatisfaction in the community, particularly among ICO backers who’d expected the project to launch on Hyperliquid and stay tied to the HYPE ecosystem.

Hyperliquid experiences over $1 million single-asset loss today with 38 liquidated positions

January 19th — Per monitoring from HyperInsight, multiple traders on Hyperliquid were liquidated during today’s market flash crash. There were 38 liquidation events where losses exceeded $1 million each, spanning mainstream coins and altcoins. The largest single liquidation was a Bitcoin (BTC) long position, resulting in a loss of up to $25.8338 million.

Hyperliquid Launches AXS/USDC Perpetual Contract

On January 18, Hyperliquid launched the AXS/USDC perpetual futures contract, offering up to 5x leverage.

The Hyperliquid Foundation donated 10,000 HYPE tokens to ZachXBT

**Jan 18 Update:** The Hyperliquid Foundation announced on January 18 that it has donated 10,000 HYPE tokens to on-chain sleuth ZachXBT—valued at roughly $254,000, marking the second-largest donation ZachXBT has received to date. ZachXBT has confirmed receipt of the donation and shared details of other top 10 donors, including Optimism, Octant, The White Whale, Arbitrum, BNB Chain, Unipcs, Nouns, CL207, and High Stakes Capital.

A whale has deposited 7.9 million U to HyperLiquid to leverage long positions on ETH and ADA

January 17th: Onchain Lens data shows two wallets tied to the same whale deposited $7.9 million in USDC into HyperLiquid and placed limit orders to go long on ETH and ADA. Breakdown: - Wallet 0x8Fc has limit orders: buy ETH at $3267.2–$3275.7; buy ADA at $0.3851–$0.3888. - Wallet 0xCe8 has a limit order to buy ETH at $3267.3–$3273.5.

Hyperliquid's second largest ETH long position, a large limit price buy order, appears to be a planned attempt to buy the dip in Ethereum

January 16: On-chain analyst Ai Auntie (@ai_9684xtpa) reports that the top 2 ETH long address on Hyperliquid (0x94d…33814) holds a combined $318 million in long positions across ETH, BTC, and SOL, with $3.9 million in unrealized losses (ETH makes up 62.4% of the total). The address has placed two limit buy orders: - 786.85 BTC (valued at $74.95 million) in the $95,150–$95,381 range - 8,346.78 ETH (valued at $27.48 million) in the $3,285–$3,300 range Should the market pull back, the address is expected to decisively buy the dip and lean bullish.

Dreamcash launches RWA perpetual contract market on Hyperliquid with USDT0 collateralization

Dreamcash, a mobile trading platform, announced on January 16 a partnership with Tether and Selini Capital to launch a series of RWA-based HIP-3 perpetual contract markets on Hyperliquid, with USDT0 as collateral.

A whale has deposited 2.27 million USDC into HyperLiquid and has taken a 2x leverage long position on XMR

On January 15, Onchain Lens monitoring reported that a whale has deposited 2.27 million USDC into HyperLiquid, opened a 2x leveraged long position on XMR, and the position is still expanding.

Mainstream Perp DEX Overview: Hyperliquid's Open Interest Reaches Nearly Three-Month High at Around $9.65 Billion

January 15 — Perpetual DEX (Perp DEX) Hyperliquid’s open interest hit a nearly three-month high of $9.645 billion over the past 24 hours, per DefiLlama data. Its prior three-month peak was around $9.658 billion, while its trading volume led the segment. Key Perp DEX metrics (past 24h): - Hyperliquid: ~$8.82B trading volume | ~$4.36B TVL | ~$9.65B open interest - Aster: ~$6.47B trading volume | ~$1.25B TVL | ~$2.79B open interest - Lighter: ~$4.75B trading volume | ~$1.19B TVL | ~$1.5B open interest - EdgeX: ~$3.87B trading volume | ~$0.416B TVL | ~$1.21B open interest - Variational: ~$1.89B trading volume | ~$66.18M TVL | ~$1.1B open interest - Extended: ~$1.87B trading volume | ~$1.91B TVL | ~$2.95B open interest - Pacifica: ~$0.948B trading volume | ~$45.81M TVL | ~$88M open interest Reference links: [Hyperliquid](https://app.hyperliquid.xyz/join/NTOD), [Aster](https://www.asterdex.com/en/referral/aboter), [Lighter](https://app.lighter.xyz/?referral=70045843), [Pa

Hyperliquid Launches XMR/USDC Perpetual Contract

On January 15th, Hyperliquid rolled out the XMR/USDC perpetual contract for privacy coin Monero, offering up to 5x leverage.

Mainstream Perp DEX Overview: Hyperliquid's Open Interest Surges by About 12%, Trading Volume Holds Steady at TOP 1