hiperwire

Hyperliquid just hit 246,796 active perp traders — a new all-time high. That's +95,216 since January 5, a 63% increase in 3 months. For context, the platform also processed a $17.27M single liquidation yesterday (largest across all exchanges) and ran $2B in oil perps volume alone.

Hyperliquid captured ~6% of global perps volume in March (~$200B), nearly doubling its share from 3.5% a year ago. Latest integration: SushiSwap launched Sushi Perps powered by Hyperliquid's order book.

$XPL down 23% after seven coordinated wallets deposited $1.85M, pumped the HIP-3 perp 42% to $0.167 with leveraged longs, then withdrew $4.63M simultaneously for a $2.78M profit. HLP pool ate $600K in losses from the liquidation cascade. Arkham tagged the operation and flagged a matching play on Aster. Tradeable with up to 10x leverage. Hyperliquid.

$BASED down 53% from its March 30 TGE price in four days — textbook no-vesting airdrop unwind. 235M tokens hit wallets with zero lockup and the bid has been thin ever since, now sitting 1% above all-time low at $0.0725. HyENA perp listing on April 2 gave shorts their first venue, and a crypto fear index at 9 isn't helping. Tradeable with up to 3x leverage. Hyperliquid.

$CL flipped Brent for the first time in over a decade — WTI now trades at a $3.70 premium, a complete inversion of the normal spread. The market is repricing physical accessibility: U.S. crude ships without touching Hormuz, and front-month backwardation just hit a record $16.70/bbl. OPEC+ meets Saturday but the 206k b/d hike they agreed on is irrelevant while Gulf exports are at zero. Tradeable with up to 20x leverage. Hyperliquid.

$CRCL reversed 7% off its $84.27 intraday low after Circle announced cirBTC, a 1:1 BTC-backed wrapped token targeting $1.7T in institutional bitcoin sitting outside DeFi. First product expansion beyond stablecoins — goes directly at Coinbase's $6B cbBTC with real-time on-chain reserve verification. CLARITY Act still unresolved until Senate returns April 13. Tradeable with up to 10x leverage. Hyperliquid.

$CL at $111 after the UN Security Council delayed its Hormuz force authorization vote — Good Friday pushed the nearest diplomatic off-ramp to next week at the earliest. OPEC+ meets Saturday with a 206k b/d hike on the table, but real Gulf exports are zero while the strait stays closed. Tradeable with up to 20x leverage. Hyperliquid.

$XYZ100 reversed a 2.2% intraday selloff to close green after Iran and Oman announced a protocol to monitor Strait of Hormuz transit — the first diplomatic framework for reopening the waterway since the blockade began five weeks ago. Nasdaq-100 snapped a five-week losing streak heading into Good Friday, even as WTI crude finished above $111. Tradeable with up to 30x leverage. Hyperliquid.

$USAR up 13% on a delayed reaction to last week's milestones — Stillwater Phase 1a is commissioned and Q4 posted the company's first-ever revenue at $1.64M. The real binary is this month: management expects definitive docs for the $1.6B CHIPS funding deal to close in April. Tradeable with up to 10x leverage. Hyperliquid.

$CL at $111 after Trump's national address killed the remaining ceasefire timeline — promised 2-3 more weeks of 'extremely hard' strikes on Iran with no plan to reopen Hormuz. WTI moved 11% on the session, the largest single-day crude spike since the strait closed in February. Tradeable with up to 20x leverage. Hyperliquid.

$SILVER +4% off the $70 floor, now through $72 resistance — fourth test of this level since February, fourth hold. NFP drops today into Easter-empty books with consensus at just +50K after last month's -92K, and any miss keeps dollar pressure alive. The 50-EMA is reclaimed for the first time since the Trump speech selloff. Tradeable with up to 25x leverage. Hyperliquid.

$CL at $111 while Dated Brent physical cargoes traded at $141.36 — the highest since 2008 and a $32 premium over futures. Chevron's CEO says the Hormuz closure still isn't fully priced into the curve. IEA warned April supply losses will double March as the pre-crisis tanker cushion runs dry. Tradeable with up to 20x leverage. Hyperliquid.

$BRENTOIL at $108.30 — IEA warned April will be 'much worse' than March because the last Hormuz transit cargoes from before the blockade have now all been delivered. No buffer left. Trump's address promised 2-3 more weeks of strikes with no plan to reopen the strait, and even a 5.5M barrel US inventory build barely registered against a 12M bpd global shortfall. Tradeable with up to 20x leverage. Hyperliquid.

$CL flipped above Brent for the first time during the Hormuz crisis as stalled tanker traffic forced the market to reprice crude around physical deliverability, not origin. WTI Midland hit $119.40 — a $12 premium to June Brent — while prompt backwardation hit record levels. Tradeable with up to 20x leverage. Hyperliquid.

$BRENTOIL at $108.10 — futures are up 8.6% but dated Brent for physical cargo hit $141.36 today, highest since 2008. That $32 spread over June futures is Hormuz supply destruction showing up in real barrels. Gulf Arab output is down 60% from pre-conflict levels and the cargo buffer that kept the spot market orderly through mid-March is gone. Tradeable with up to 20x leverage. Hyperliquid.

$XPL perp up 20% in 20 hours after a $2M TWAP order pushed 17.7M tokens through the same thin HIP-3 book. Third distinct leg in 48 hours, no new catalyst — just sustained flow repricing sub-$200K open interest. April 25 unlock (88.88M tokens) is the first supply test. Tradeable with up to 10x leverage. Hyperliquid.

First crypto-native perpetual index markets are now live on Hyperliquid: BTC.D, TOTAL2 (crypto mcap ex-BTC), OTHERS (altcoin mcap) — up to 50x leverage. Paragon deployed all three, staking 500K HYPE (~$19M) to back them.

$LIGHTER up 20% after Telegram Wallet went live with perpetual futures powered by Lighter DEX, embedding 50+ markets inside the chat app for 150 million users. LIT spot moved roughly +5% on the same news — the 4x amplification is a thin order book catching up to a distribution catalyst sized for a $2B DEX. Tradeable with up to 5x leverage. Hyperliquid.

$XPL perp up 41% in 17 hours — TWAP buying extended last week's Whop and Rise Pay bid through the same thin HIP-3 book. Open interest sits at $107K, so every sustained order reprices the market. Next supply test: 88.88M token unlock on April 25. Tradeable with up to 10x leverage. Hyperliquid.

$SILVER +4.3% in 6h, bouncing off the $70 floor after reports of an Iran-Oman Strait of Hormuz safe passage protocol eased last night's oil panic. Fourth test of this level since February, fourth hold. Shanghai physical premiums still at 12-13% above COMEX — the industrial bid underneath this market hasn't flinched. Tradeable with up to 25x leverage. Hyperliquid.