Hubert

@arkham do we have a leaderboard for the biggest Hyperliquid account blowups by realized loss or liquidation size? Wynn would be on it for sure.

JAMES WYNN: HYPERLIQUIDATED James Wynn has just been partially liquidated shorting the S&P500 on Hyperliquid. He is still short $184K of SP500 on 50x leverage from 7,400. He only has $2.6K remaining in his account.

@Cointelegraph Traders will follow liquidity and execution quality first

📊 UPDATE: Top 12 perp DEX volume averaged $611.6B in 2026, with Hyperliquid dominating, per CoinGecko.

@raintures Great! As post-launch volume acceleration is what signals sustained relevance beyond the initial (generally overhyped) launch day

$HYPE ETFs did something almost no newly launched fund does. Volume accelerated after launch instead of dying off. THYP and BHYP opened May 12 and 14 with $1.2M and $750K in net inflows respectively. By Wednesday they’d combined for $25.5M in a single day, pushing total traded value to ~$41M. Bloomberg’s Balchunas called the build “very rare” for the asset class. if two products are already printing like this before a third enters, how the flow picture change when Grayscale actually gets approved?

@ParadisLabs interesting how the $SPCX pricing window is already creating second-order moves in public comps

In case you're wondering why $RKLB is down pre-market: They announced that they're doing a $3B ATM offering. It can't be a coincidence that they filed this on the same day as the $SPCX IPO prospectus? Seems like $RKLB are raising capital into the $SPCX pricing window - probably for more M&A e.g. Mynaric. Which boosts the vertical-integration story longer term. I also have no doubts on $RKLB executing well going forwards. Their Earnings this quarter were probably the cleanest set along with the likes of $NVDA / $SNDK. My napkin maths only puts this at a ~4% dilution event also. So the market is probably currently pricing in $SPCX related things after releasing their prospectus yesterday.

@andyhyfi @unitxyz The market clearly likes having a public venue for private-market demand, even before the instruments are fully mature

What if HYPE is +30% after every premarket @unitxyz IPO perps launch forever?

@lookonchain @loraclexyz $24m unrealized loss must hurt

loracle.hl(@loraclexyz)'s $HYPE short has now grown to over $100M! He is currently down over $23M, with a liquidation price of $69.49. x.com/lookonchain/st…

@KookCapitalLLC Feels less like a normal alt rotation when usage, fees, and token alignment are all reinforcing each other

btw alt szn is happening right now its just that the only alt is $hype

@seanlippel @variational_io what does Variational do differently here vs other perps venues when holding positions longer than a few hours?

we are not in the round (wish we were), so no dog in the fight but as a trader, @variational_io is so so so good, it's the answer to what i've been looking for since i got brutally ADLd on Hyperliquid on 10.10 any proper insto investor that wants to hold a perps position longer than a few hours, or run a L/S book on leverage, is going to want to do it through a one-stop platform such as @variational_io have moved all my perps trading there and will continue to use for the foreseeable future big Variational fanboy here 👋

@jords funny how Hyperliquid made tokenized stocks actually tradable, while HYPE itself behaves closer to a stock than a typical token

holding hype is extremely comfortable bc you know all revenue leads back to the token they have also created a culture where acceptance is based on alignment with $HYPE so you can be fairly sure that other cool stuff being built will also lead back to the token circle's revenue goes back into the token, bitwise's new etf is allocating fees to buying back the token, all revenue the dex makes gets redistributed back to the holders via the token. ive spoken to many teams who are also striving to show similar structures this is how financial alignment should look. this is what wealth redistribution can look like

@_stevenhl imagine where the ecosystem will be a year from now

The last time HYPE was $50: - BTC was $125K - ETH was $4600 - SOL was $235 - HIP-3 didn’t exist - HIP-4 didn’t exist - PURR wasn’t bidding HYPE - HYPE ETFs didn’t exist - Circle wasn’t giving HL 90% of their USDC yield - People assumed team unlocks was 10M HYPE tokens monthly

@ThinkingUSD That is exactly what I did after getting introduced to hyperliquid in 2025, first time I preferred a DEX over a CEX

If you care about crypto and its future as an industry it’s imperative that you move all your volume to Hyperliquid.

@Henrik_on_HL Got sucked into Hyperliquid at the start of 2025 and it has been wild seeing perps become the center of onchain activity this quickly

Hyperliquid

@MarketsAlpha Do you think they are accumulating toward the 500k HYPE threshold for hip-3 deployment?

AlberBlanc, one of the biggest market makers on Hyperliquid, deposited $10M into Hyperliquid an hour ago and is now buying 100k hyperliquid:native via TWAP. markets.xyz/trader/0xf605c… Besides them, more than 10 other addresses are also buying HYPE via TWAP, totaling over $6M in net buys over the next few hours.

@dschamis @HyperliquidX @elonmusk @SpaceX @cerebras @MorganStanley Even if pre-ipo perps are imperfect, a public demand curve is still better signal than a closed bookbuild

Hey @HyperliquidX community - let's make sure that @elonmusk and @SpaceX don't make the same mistake that @cerebras made in pricing their IPO. HL provided price discovery that was very accurate. Elon - @MorganStanley and the other banks will push back - they will have a long list of reasons as to why you need to price it well below the true market value - don't fall prey to this nonsense. @HypeStrat @tradexyz $PURR

@ericonomic do we know the historical absolute max for net hype twap imbalance? would be useful to contextualize the situation

$7M+ in net HYPE TWAPs right now. This might seem like a big deal now, but once Grayscale deploys its ETF, BHYP and THYP grow further, Circle starts TWAPing because of AQAv2 and $PURR gets more volume, we could easily see $10M+ in daily HYPE buybacks, excluding other buys.

@sanxbt that is a serious amount of flow, curious what part of the setup mattered most for actually scaling volume

Ranked #1 in points.

@HyperliquidNews @coinbase the more venues list hype perps, the more execution and liquidity fragmentation starts to matter

hyperliquid:native will be available for perpetual trading on @coinbase starting June 8.

@MavenHL can confirm, been around since 2017 and hyperliquid was the first dex that actually made me move real execution from cex to dex

In 2022 no one could imagine this. From dYdX total dominance to Hyperliquid’s complete takeover. We went from trash UI perp DEXs to the future of finance. Now Hyperliquid is eating CEX market share. Hyperliquid is going to win.

@Sakrexer csv exports sound boring, but they are incredibly helpful once account history gets messy

Hyperliquid added an interest tab for the portfolio margin users You can also export it as csv (good for taxes)

@ericonomic definitely a helpful tool for tracking these flows, thanks for sharing it

At this point I think this is gonna happen every single day until HYPE reaches its fair value. Btw for those who are asking, you can set these kind of notifications with my bot: t.me/hl_positions_t…