Robinhood Chain Overtakes Hyperliquid in 24-Hour DEX Volume
CASHCAT alone generated roughly $98M of the $560–570M total, but a Morpho-driven TVL crossing $100M in week one is the more durable signal for the new Layer-2.
Every Zipp story tagged #Hyperliquid, newest first.
CASHCAT alone generated roughly $98M of the $560–570M total, but a Morpho-driven TVL crossing $100M in week one is the more durable signal for the new Layer-2.
Robinhood's L2 booked $433M in perp-driven flows over the past 24 hours, overtaking Hyperliquid's $296M and signalling real traction for the broker-led chain's derivatives venue.
The joint letter is a coordination moment for the onchain-infrastructure thesis: regulated venues already want to plug into Hyperliquid-style rails, and they're asking the CFTC to bless the model…
The CFTC's current framework assumes intermediaries that onchain protocols do not have, so applying broker and exchange rules to them is a category error that risks freezing US DeFi derivatives in…
A single address opened a leveraged long equivalent to roughly 1,700 contracts of an index-tracking perpetual, with another $19M in resting bids still on the book.
The wrapper promises accumulation, but its own SEC filing warns it may have to sell HYPE into the stress moments, with monthly core-contributor unlocks roughly 44% of the facility's full buying power.
The Binance founder's contrast draws a regulatory fault line between centralized exchange accountability and the no-KYC smart-contract model newer perps venues are running on.
The second consecutive quarterly decline leaves volume at half the Q4 2025 peak, with Hyperliquid still anchoring the sector at $620B despite the slowdown.
The fall from 58% to 54% comes with capital concentrating in a narrow set of tokens that route fees, burns, or institutional hooks back to holders, not in a blanket altseason.
Strategy's first major BTC sale since 2020 met a muted market, while a $12K HyperSwap airdrop scam and a $20M BONK treasury exploit marked a sharp day for DeFi security.
The trade itself is small in scheme terms, but the timing reads like a contrarian signal: a quiet whale re-enters with max leverage at the moment Strategy starts selling.
The partnership lets VALR offer perpetuals without running its own matching engine or order book, riding Hyperliquid's onchain liquidity for one of Africa's deepest crypto venues.
The on-chain entry-price heatmap shows large longs from $72-76K underwater against shorts building from $60K, a setup that can break either way on the next flush.
Hyperliquid alone absorbed more than half of the net inflow tracked across the major perpetual DEXs in that window, a one-day concentration that has become characteristic of how capital now routes…
The deal hands Hyperliquid its first major African distribution and gives VALR's 800K-user base a 200-market perpetuals book without running its own matching engine.
The position, worth $18.81M, is up $818K in under a day, with a liquidation line at $67.14 that maps the bet's downside.
The Türkiye-based platform is reframing itself as a multi-product investment app, layering DEX perpetuals and prediction markets on top of its CEX license.
The wallet is pulling in the team that built Hyperliquid's highest-profile private-company perps market, betting wallets themselves are becoming the next derivatives front-end.
The gap matters more than the headline figure: Hyperliquid's monthly volume is now four times its nearest competitor, signalling how concentrated perp-DEX liquidity has become.
Combined 1,700 BTC of short exposure at 20x and 40x leverage is a small fraction of open interest, but the wallet histories and sizing signal high-conviction directional bets against near-term price.