Hyperliquid is a layer one (L1) blockchain built around decentralized trading, with its flagship platform designed primarily for perpetual futures and spot markets. The ecosystem extends well beyond its decentralized exchange (DEX), supporting additional services such as borrowing and lending, real-world asset (RWA) tokenization, and a fully integrated Ethereum Virtual Machine (EVM) environment that allows Ethereum-compatible smart contracts to run on the network. The network operates on a proof-of-stake (PoS) consensus mechanism and functions as a smart contract platform, positioning it as a broad infrastructure layer for decentralized finance (DeFi) rather than a single-purpose application. HYPE is the network's native token, with a capped maximum supply of 1 billion. Within the Hyperliquid ecosystem, the token serves governance and utility functions tied to the operation of the chain and its associated exchange-based activities.
A 24-hour cascade hit markets hard: over $1.1B in liquidations, a critical Zcash counterfeiting flaw, and a House panel teeing up crypto tax legislation.
Two fresh wallets have now drained $75.8M in $HYPE off centralized venues in three days — a pattern of accumulation that echoes the early-inning institutional bids seen across majors this cycle.
The headline is the exit at $67 — a third below his $150 target — but the real read is Thielen's valuation flag: HYPE traded at 25x projected fee revenue near the highs, with a June token unlock…
Nearly $2.7B left spot BTC and ETH ETFs over two weeks while XRP, Solana and HYPE funds absorbed the bid — the signal is rotation, not retreat.
Arthur Hayes, the co-founder of BitMEX and one of crypto's most-followed macro traders, sold 247,334 HYPE tokens worth…
The market-cap gap is still ~38x in Solana's favor, but HYPE's perps volume and fee capture have structurally outgrown what a pure L1 should be earning on-chain.
Arthur Hayes has fully exited his HYPE and NEAR positions, citing two macro-level catalysts as the reason: the…
The BitMEX co-founder is closing his HYPE and NEAR longs ahead of a Tuesday essay arguing that an energy-shock + AI-IPO combo hands Trump an anti-AI lever into 2026.
Hayes is rotating out of crypto into cash as energy costs, an AI-IPO pipeline, and election-year politics converge into a textbook late-cycle setup — the kind of de-risking that has historically…
Arthur Hayes, co-founder of BitMEX and one of crypto's most closely watched macro traders, has liquidated his entire…
The HIP-3 framework carried the month — $62B in volume and $3B in open interest — while the platform's pure crypto perps book still shrank year over year.
Bitcoin, ether, solana and XRP funds are all in net redemption simultaneously for the first time — a coordinated altcoin reversal that turns the post-ETF-launch inflow story on its head, with…
Three fresh wallets plus an existing accumulator have drained both US venues in under three days — a concentration of exchange outflow that reads as positioning, not rotation.
Solana's SOL token has fallen to its lowest price levels since 2023, a decline steep enough that Hyperliquid's HYPE…
Charles Schwab's Jim Ferraioli argues ETF inflows and regulatory wins haven't moved the tape because the marginal speculative dollar has moved on — and crypto-native rails like Hyperliquid now let…
Hyperliquid's native token HYPE has overtaken Solana's SOL in nominal price per token, marking a notable milestone for…
The fee war has now started in HYPE products — and Grayscale's 0.29% undercuts 21Shares' 0.30% and Bitwise's 0.34%, with staking rewards layered in to widen the spread against passive rivals.
A 0.29% sponsor fee beats the 0.30%-0.34% range already on offer from Bitwise and 21Shares — and the launch lands the same week the CFTC opened the door for US-listed perpetual futures.
The 6.4% BTC drop and ETH breaking $1,900 came even as the MSCI ACWI set an all-time high — a decoupling that points to crypto-specific overhangs, not a broad risk-off move.
WSJ profiling lands the same week Hyperliquid's HYPE token crossed a $14B market cap — the platform is now routing weekend BTC, oil, and pre-IPO exposure that CME can't.
Where Zipp's editorial desk has weighed in on this token.
Bitcoin holds $64K while a Fed split, a Coldcard drain, and fading CLARITY Act odds test a sentiment already sitting in fear.
A 594 BTC hardware-wallet drain, three Fed hawks, and an ETF rebound driven almost entirely by BlackRock. The bid is thinner than the tape suggests.
A landmark Wall Street push into BTC, ETH and SOL lands on the same day ETF flows flirt with record lows. The contradiction is the story.
Wall Street's biggest bank just turned crypto into an around-the-clock product while three Fed officials push for rate hikes and ETFs bleed. The crowd is watching the wrong movie.
Morgan Stanley just opened the ETF door for ETH and SOL. Citadel is betting on a 25 bp surprise. The crowd is reading the same tape and seeing two different movies.
Galaxy slashed the bill's passage odds to 30%, the Senate keeps its calendar thin, and the market treats the wobble as cover, not yet a verdict.
Hyperliquid is a layer one (L1) blockchain best known for perpetual futures and spot trading.
Hyperliquid (HYPE) is categorised as: Decentralized Exchange (DEX), Smart Contract Platform, Exchange-based Tokens.
The official Hyperliquid site is https://app.hyperliquid.xyz/trade.
Most recent Hyperliquid coverage: "$1.1B Crypto Liquidations Hit as ZEC Counterfeiting Bug Revealed" — read at /en-US/a/markets-rocked-112b-liquidated-zcash-flaw-exposed.
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