what's hyperliquid?
Hyperliquid is a high-performance Layer-1 blockchain and decentralized exchange specializing in perpetual futures trading with fully on-chain order books and zero gas fees. It enables fast, low-cost perpetuals, spot trading, and liquidity provision through innovative features like vaults for copy trading and a custom consensus algorithm. The platform bridges CeFi efficiency with DeFi transparency, supporting developers via HyperEVM for building financial applications.
OpenSea integrates Hyperliquid perps; YZi Labs invested; Grayscale considers; 1000+ new wallets daily.
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hyperliquid
OpenSea is integrating Hyperliquid perps into its mobile app, currently battle testing the product with active traders and collectors.
YZi Labs (associated with Binance) invested in Genius Terminal, a trading terminal that integrates with Hyperliquid for perpetual futures trading.
Has 1000-1500 new wallets joining per day.
Added to Grayscale's list of 30+ crypto assets under consideration for future investment products.
Listed XMR1 (a Monero wrapper token) as a trading pair, accessible via builder codes but not displayed on the main frontend due to regulatory concerns.
Integrated with Across Protocol to enable bridging support.
Integrated into Glyph Wallet for cross-network swaps alongside ApeChain, Ethereum, Arbitrum, Base, and BNB Smart Chain.
Achieved over $10 million in volume and over $1.7 million in open interest on the US500 market via markets_xyz during its opening hours on 2026-01-12.
Hyperliquid's Jeff featured in Fortune magazine.
Integrated with a derivatives market platform for physical collectibles (including Pokémon cards), with mainnet timeline and first tickers announced.
Experienced a low-volume day in 24-hour perpetuals trading volume, as part of a broader slowdown in crypto activity on January 11, 2026.
Hyperliquid perp intelligence made accessible via x402 for real-time agent context through Loky_AI integration.
Added a Tradfi section to the native UI combining stocks, indices, commodities, and FX trading in one tab.
Integrated with Predict, enabling USDT and USDC deposits from HyperEVM to the Predict platform.
Integrated with Rosetta, a yield router that automatically optimizes capital allocation across Hyperliquid vaults, lending, and funding pools for risk-adjusted returns, protected by Privy.
Whale address 0xDAeF deposited 8.09M USDC and placed limit orders to buy 59,458 SOL (worth $8M) at prices between $133.88-$135 on 2026-01-09.
Trove Markets, deployed on HyperEVM, has achieved over $1 billion in trading volume across its markets.
Wintermute deposited over $40M into Hyperliquid on January 8, 2026 for arbitrage activity.
Hosting a community hackathon in London on January 16-18, 2026.
Added new Pendle yield pools on Hyperliquid for hwHYPE and hwHLP tokens via Penpiexyz integration.
Released new art that resembles an NFT roadmap, increasing visibility and speculation about potential NFT-related plans.
A whale/institution closed positions and withdrew 31.7 million USDC from Hyperliquid after liquidating BTC long contracts at a loss.
Listed FXRP/USDC spot trading pair on 2026-01-07, marking the first XRP spot exposure available on the platform via Flare's FXRP token.
Went live on 0xPPL platform.
Introduced sKNTQ staking tiers ranging from 50,000 to 2,500,000 sKNTQ, with KNTQ buybacks distributed exclusively to sKNTQ stakers and staking launch imminent pending audits.
Shared a map of developments and achievements, sparking airdrop rumors.
Recorded $55M in net inflows within 24 hours, the highest among cross-chain bridges during that period.
Whale 0xc613 deposited 2M USDC into Hyperliquid and opened a 40x short position on 358.85 BTC valued at $33.24M on 2026-01-07.
Whale 0xFB78 deposited 15.5M USDC into Hyperliquid and opened a 20x long position on 980 BTC valued at $90.7M with an entry price of $92,885.
Integrated directly into Phantom, Rabby, Rainbow, and MetaMask wallets for embedded perpetual trading.
A whale was liquidated for $11.3 million in a single BTC/USD long order on the platform.
A whale opened a $140,000,000 long position on BTC, currently showing a $517,000 unrealized profit.
Integrated with Elfa AI platform to enable direct trading execution from Elfa's interface.
Burned Assistance Fund HYPE tokens in 2025.
Collaborates with SEDA and Pyth Network to power HIP-3 markets with programmability and data sources.
A Based trading terminal leveraging Hyperliquid announced BASED token launch scheduled for Q1 2026 with eligibility requiring sign-up of terms and conditions.
Reached $14B in trading volume.
Token unlock scheduled for the week of January 5-11, 2026.
Whale "pension-usdt.eth" deposited $30 million USDC and opened a 3x leveraged short position on 20,000 ETH (worth $63.14-64.14 million) with an entry price of $3,136, currently showing an unrealized loss of $0.9-1.4 million.
A whale allegedly used leaked information to short markets on October 10th, 2025, just ahead of Trump's tariff announcement, with investigations pointing to the World LibertyFi circle as the source.
deployed new precompiles
USDH holder base grew approximately 10x during Q4 2025.
Trader James Wynn grew an initial $10,000 position into $500,000 in unrealized profit through leveraged long positions on PEPE starting December 27, 2025, after previously losing $100 million on the platform six months earlier.
A trader turned $58,700 into $489,900 in one week by opening a 10× long position on PEPE, depositing funds into Hyperliquid and rolling profits to build a position of 221.96M kPEPE ($1.52M).
NobsFund acquired approximately 806,000 HYPE tokens on market for $20 million at an average cost of $24.80 per HYPE, adding the position to their long-term treasury.
Launched wstHYPE/HYPE lending markets on Felix Protocol on January 2, 2026, with initial borrow rates at 0.22%.
TVL increased by 25% in the 72 hours following the TGE
Integrated with ShapeShift swap aggregator for HyperEVM chain support
Partners with Noble to launch a managed vault on Hyperliquid.
Evolves toward programmable finance L1 in 2025
Generated $4.7M in PnL for trader Laurent Zeimes, $2.3M for CBB, $1.7M for Nexus, and $1.1M for CL on perpetuals during the 90-day period ending in 2025.
Compared to launchpad wars where Pumpfun won as the OG, suggesting Hyperliquid as the OG perp DEX may win the perp DEX wars.
Has no private investors, no market maker deals, and charges no protocol fees to any company.
Integrated with Wormhole's Native Token Transfers (NTT) standard for multichain token functionality.
Did not raise venture capital funding, allowing retail users to acquire tokens at the same price as institutional participants.
A USDC borrowing pool using kHYPE as collateral is available on Morpho with 4.73% APR.
Faced significant competitive challenge from Aster protocol in Q4 2025 for perpetual DEX market dominance.
Reached $117.1B in year-to-date DEX volume.
Bitwise submitted an application to the U.S. SEC for a Bitwise Hyperliquid Strategy ETF on December 30, 2025.
HyperEVM is now live on OKU Trade.
Received the Revenue Meta Award for 2025 from The Rollup.
Integrated with Safe Wallet, enabling Smart Account standards deployment on the network in 2025.
Allocates 100% of protocol revenue to token buybacks.
Reached $1.47B in Total Value Locked (TVL) as of late December 2025.
Hyperliquid ranked as the top attention gainer of 2025 with an 883% increase, according to LunarCrush metrics.
Supports trading of ZEC, MON, and NEAR tokens on the platform.
Described as one of a few blockchains expected to remain relevant alongside Bitcoin and Solana, positioned as a verticalized network amid predictions of widespread crypto asset irrelevance in 2026.
Achieved $21.5 billion in perpetual futures volume over the seven days ending approximately December 29, 2025.
Open interest for HYPE token reaches an all-time high measured in coins.
RubiFi development is stopping, with $RUB reverting to memecoin status.
Weekly revenue dropped to its lowest level since early May 2025.
Will cut perpetual funding rates by halving the funding formula.
Opened a +$20.1M ETH long position with 10x leverage over a 20-minute period.
Increased a BTC long position to +$44.4M with 20x leverage.
whale 0xA71d deposited 1.81M USDC into Hyperliquid approximately 8 hours before December 29, 2025 01:37 UTC and opened a 3x long position on 500,000 LIT valued at $1.83M
scheduled for a cliff unlock exceeding $5 million in value within the 7-day period starting December 29, 2025
Unstaking 1.2 million HYPE tokens on December 28th for distribution to team members on January 6th, 2025, with any future distributions occurring on the 6th of each month.
Added approximately 609,700 new users in 2025.
A trader named ReturnToTradition opened a $22.0M long position on BTC with 40x leverage at an entry price of $87.6k, executed on the Hyperliquid platform.
A trader (Fog-Pollock-j5s, wallet 0x50b3_9f20) increased their short position to -$45.9M BTC with 20x leverage at an average entry of $87.5k.
Total open interest reached approximately $5.3B-$7.1B, with the whale position representing 10-14% of total open interest and 20-25% of ETH-specific open interest.
recorded the largest single liquidation across all platforms in the past 24 hours, a $7.02M BTC-USD position
A whale holds over $744M in long positions across ETH, BTC, and SOL with more than $53M in unrealized losses.
A whale (Emerald-Jellyfish-e5j) closed a $30.6M BTC short position with a profit of $328.8k after 12 hours on December 26th.
Season 2 is expected to launch, following the first season of incentive programs.
Averaged 6,502 orders per second throughout 2025.
SpaceX shares are trading at approximately $940, implying a $1.6 trillion valuation on the platform.
Burned 37 million HYPE tokens on December 26, 2025.
Recorded $3.87 billion in net inflows in 2025.
A trader opened a $22.17M short position on BTC with 40x leverage at an average entry price of $88,683, with liquidation at $92,756.
A trader identified as Fog-Pollock-j5s closed a $21.8M ETH long position with 18x leverage on Hyperliquid, realizing a profit of $8,324 after one hour of execution on December 26, 2025.
A trader with account identifier Fog-Pollock-j5s opened a $20.9M short position on ETH with 18x leverage at an average entry price of $2,972.66 on December 26, 2025.
V2 of defiapp launched with native Hyperliquid withdrawals settling in 2-5 seconds, compared to 5-10 minutes previously, supporting 40x perpetuals and 40+ million tokens while remaining fully self-custodial.
Perpetual swap cumulative volume delta (CVD) was positive for some parts of 2025, contrasting with negative CVD on other major exchanges including +$1.634B in July and +$1.515B in September.