Hyperliquid | Crypto

DefiLlama data showed that Aster topped daily perpetual trading volumes with $24.7 billion on Wednesday, surpassing competitors including Hyperliquid and edgeX. Aster, a decentralized perpetuals exchange on BNB Chain, saw open interest surge nearly 33,500% in less than a week, challenging that of its top rival, Hyperliquid. On Wednesday, CoinGlass data showed that Aster’s open interest jumped from $3.72 million on Friday to $1.25 billion at the time of writing. The spike in active contracts signaled that traders were piling into the platform, challenging its biggest competitor, Hyperliquid.  Open interest refers to the total number of outstanding contracts that haven’t been settled. It’s used as a key metric to gauge liquidity and market conviction toward a project. Aster’s open interest surge showed that the traders are willing to deploy capital on the platform.  Read more

The Taiwanese celebrity closed his position at a $4.5 million loss as Hyperliquid’s market share continued to lose ground to other decentralized exchanges. Taiwanese music celebrity and high-profile digital asset investor Jeffrey Huang, also known as “Machi Big Brother,” sold all his Hyperliquid holdings at a multimillion-dollar loss amid mounting concerns over the token’s upcoming vesting schedule. The celebrity and popular Bored Ape Yacht Club collector sold $25.8 million worth of Hyperliquid (HYPE) tokens, realizing a total loss of $4.45 million after weeks of holding, according to blockchain data shared by pseudonymous analyst MLM in a Tuesday X post. The account has also forfeited more than $19 million in unrealized profit over the past week. Read more

The on-chain perpetuals market is experiencing a major shake up as Hyperliquid cedes ground to competitors.

The whale started withdrawing their HYPE tokens after nine months of holding, with an unrealized profit of about $90 million. Update Sept. 22, 1:31 p.m. UTC: This article has been updated to include quotes from Nicolai Sondergaard, research analyst at crypto intelligence platform Nansen. Large cryptocurrency investors, or whales, are cashing out of Hyperliquid’s native token as concerns grow over an upcoming vesting schedule that could unleash about $11 billion worth of supply. Whale wallet “0x316f” withdrew $122 million worth of Hyperliquid (HYPE) tokens on Monday, which had been acquired for about $12 per token. Read more

MetaMask is preparing to embed perpetual futures trading into its interface through an integration with Hyperliquid, according to newly surfaced code leaks on social media. Updates on MetaMask’s public GitHub repository revealed a dedicated “Perps” tab and deposit flows for USDC, signaling the addition of leveraged trading features typically found on centralized exchanges. The new […] The post Leaked code shows Metamask eyeing in-wallet perps via Hyperliquid appeared first on CryptoSlate.

MetaMask is preparing to integrate perpetuals trading with Hyperliquid, allowing direct derivatives trading within the wallet for over 30 million active users. The post Leaked Code Reveals MetaMask Is Launching In-Wallet Perpetuals Trading using Hyperliquid appeared first on Cryptonews.

Four authors submitted Hyperliquid Improvement Proposal 4 (HIP-4) on Sept. 16, introducing “Event Perpetuals” to enable prediction markets on the platform’s order book infrastructure. The proposal lists Kalshi’s head of crypto, John Wang, among its four co-authors. The text addresses limitations in Hyperliquid’s existing HIP-3 builder-deployed perpetuals for prediction market use cases. The current infrastructure […] The post Kalshi exec submits Hyperliquid improvement proposal to solve prediction market deployment challenges appeared first on CryptoSlate.

Circle is now a HYPE holder, has introduced native USDC to Hyperliquid and is considering becoming a network validator. Stablecoin issuer Circle is expanding into Hyperliquid with an investment and the launch of native USD Coin on the protocol, as stablecoin competition on the network intensifies. According to a Tuesday announcement, Circle is now a stakeholder in the Hyperliquid ecosystem, directly holding its native cryptocurrency Hyperliquid (HYPE). Circle is also considering becoming a validator for the protocol. The company, which went public on June 5, is behind the USDC (USDC) stablecoin, a digital asset redeemable 1:1 for US dollars. The token will be natively deployed on HyperEVM, Hyperliquid’s smart contract layer. Read more

Circle has invested in HYPE and has launched native USDC and CCTP V2 on Hyperliquid’s HyperEVM. AUM has risen to $5.5B, including $1.2B in USDC. Hyperliquid has recorded $106M in August revenue and $383B monthly volume as Circle has evaluated a validator role. The post USDC Issuer Circle Takes Stake in Hyperliquid with First HYPE Token Investments  appeared first on Cryptonews.

Crypto price prediction Today reflects a 2% drop in total market cap, with XRP, Pump.fun and Hyperliquid posting daily losses yet holding weekly gains. Traders have taken profits, but the FOMC’s upcoming rate decision could drive renewed momentum across these leading tokens. The post Crypto Price Prediction Today 15 September – XRP, PUMP, Hyperliquid appeared first on Cryptonews.

Native Markets claimed the US dollar-pegged stablecoin ticker following a heated bidding war closely watched by the crypto community. Native Markets, one of the teams that submitted a proposal to issue and manage the Hyperliquid crypto exchange’s US dollar stablecoin (USDH), officially claimed the USDH ticker on Sunday, following a community vote. The project will deploy the inaugural Hyperliquid Improvement Proposal (HIP) for USDH and an ERC-20 token, the token standard for the Ethereum network, in the coming days, Max Fiege, founder of Native Markets, said in an X post. He also outlined the next steps: Native Markets’ odds of winning the ticker spiked to over 99% on Saturday, on prediction market Polymarket, following synthetic stablecoin issuer Ethena’s withdrawal from the race on Thursday.  Read more

Hyperliquid’s first stablecoin vote has drawn bids from Paxos, Frax, Sky, Agora and newcomer Native Markets, with billions in trading volume and stablecoin flows on the line. One week after opening a contest to decide the issuer of its first native stablecoin, USDH, Hyperliquid is preparing for a validator vote on Sunday to select the winner in what has quickly become one of the industry’s most closely watched community decisions. Hyperliquid, a decentralized exchange for perpetual futures that launched its own layer-1 in November 2024, handled $330 billion in trading volume in July with a team of 11 people. USDH will serve as the platform’s first dollar-pegged asset, providing traders with a stable unit of account and collateral option within the Hyperliquid ecosystem. The vote will decide which company controls the exchange’s canonical stablecoin and gains access to billions in stablecoin flows. Read more

Stablecoin issuer Circle appears set to deepen its role in decentralized finance by preparing a native launch of USD Coin (USDC) on Hyperliquid’s Layer 1 chain, HyperEVM. On Sept. 12, blockchain researcher MLM Blockchain flagged test transactions involving USDC on HyperEVM’s mainnet, suggesting that a native deployment could roll out in the coming weeks. Adding […] The post Circle eyes deeper ties with Hyperliquid through potential native USDC launch appeared first on CryptoSlate.

Decentralized derivatives exchange Hyperliquid has consistently outperformed traditional finance giants in terms of volume and net income. DefiLlama data estimates Hyperliquid’s annualized net income at $1.24 billion as of Sept. 12, exceeding Nasdaq’s $1.12 billion net income for the entirety of 2024 by 11%. The comparison positions the DeFi platform ahead of one of the […] The post Hyperliquid tops Nasdaq’s 2024 net income, beats Robinhood’s trading volume 4 months in a row appeared first on CryptoSlate.

Major companies are scrapping it out to take control of the USDH stablecoin ticker on Hyperliquid. Here's who's in the mix.

The crypto price prediction today has strengthened with XRP surpassing $3, Bonk breaking out of its recent trend, and Hyperliquid setting new records above $55. With total market capitalization back at $4 trillion, these altcoins have outpaced averages and may sustain gains into year-end. The post Crypto Price Prediction Today 9 September – XRP, Bonk, Hyperliquid appeared first on Cryptonews.

Ethena joins Paxos, Frax, Agora, Native Markets and Sky in the race to issue Hyperliquid’s USDH, a mandate tied to $5 billion in liquidity. Ethena Labs became the sixth bidder for Hyperliquid’s USDH stablecoin, announcing its proposal in a Tuesday blog post. The competition will decide who controls billions in liquidity and revenue on one of decentralized finance’s (DeFi) fastest-growing derivatives exchanges. The team behind USDe and USDtb is proposing a version of USDH backed entirely by USDtb, a stablecoin tied to BlackRock’s BUIDL fund and soon to be issued through Anchorage Digital Bank. If selected, Ethena has pledged to return 95% of reserve revenue to the Hyperliquid community and implement safeguards through an elected validator “guardian network.” The protocol has also promised to cover the costs of migrating Hyperliquid’s markets from USDC to USDH and committed at least $75 million in ecosystem incentives, a figure it said could rise to $150 million. Read more

Whale “0xa523” has racked up over $40 million in losses on Hyperliquid, overtaking James Wynn to become the platform’s biggest loser. Hyperliquid trader “0xa523” has overtaken James Wynn to become the platform’s largest losing whale, racking up over $40 million in losses in under a month, according to onchain data. In a Tuesday post on X, Lookonchain revealed that the trader’s downfall was driven by a string of high-leverage missteps, including a $39.66 million loss on Hyperliquid (HYPE), where he sold 886,287 tokens before the asset rebounded. Had he held the position, it would now be worth nearly $9 million more. He later lost over $35 million on a long Ether (ETH) position, flipped to a short, and then lost another $614,000. His current Bitcoin (BTC) short is also underwater, showing an unrealized loss of $1.8 million, according to data from Hyperdash. Read more

Nasdaq-listed Lion Group currently holds 6,629 Solana and over one million Sui and plans to gradually convert it all into Hyperliquid tokens. Nasdaq-listed trading platform Lion Group Holding has announced plans to shift its entire stash of Sui and Solana into HYPE, the native token of the Hyperliquid blockchain. The Singapore-based trading platform said in a statement on Monday that it plans to exchange its Solana (SOL) and SUI (SUI) gradually over time to lower the average acquisition cost by “taking advantage of market volatility and accumulating HYPE at optimal prices.”  Lion Group CEO Wilson Wang said the company’s shift to hold all Hyperliquid (HYPE) “through a disciplined accumulation process,” would “enhance portfolio efficiency,” and position the platform for “sustained growth.” Read more

Paxos submitted a proposal to issue USDH as Hyperliquid's first native stablecoin with 95% of interest earnings allocated toward HYPE token buybacks, leveraging its acquisition of Molecular Labs and Hyperliquid's record $106 million in perpetual futures trading revenue during August with 70% DeFi market share. The post Paxos Proposes to Issue USDH Stablecoin for Hyperliquid with 95% Revenue Share to HYPE Buyback appeared first on Cryptonews.