Hyperliquid news

Crypto Black Friday liquidations wiped $19B, testing Binance and revealing trust gaps between centralized and decentralized venues. Hyperliquid processed $10B of the liquidations while staying online. The event highlighted the cost of centralization. DeFi platforms like Hyperliquid, Uniswap, and Aave remained operational, whereas Binance faced outages and refunds. Hyperliquid, with a lean team and zero listing fees, has captured growing volume and market share, attracting traders with transparent, permissionless derivatives and earning a reputation as a credible alternative to CEXs. Industry analysts note that DEXs could dominate the long tail of assets, though regulatory oversight and risk controls will be needed as volume scales.

Hyperliquid’s HIP‑3 lets anyone launch perpetual futures markets by staking 500,000 HYPE (≈$20 million) as collateral, removing the need for committee approval. Validators may slash stakes for malicious or reckless behavior; slashed HYPE is burned to eliminate false‑accusation incentives. Builders control oracles and price feeds, exposing the system to manipulation risk similar to Mango’s $112 million exploit. HIP‑3 counters this with a large stake, sanity checks, robust price indices, and continuous validator oversight. Markets are isolated with separate order books, margining, and open‑interest caps per asset. The protocol deploys markets via a Dutch auction, with the first three markets exempt. Layered safety—stake, isolation, caps, and validator slashing—seeks to prevent systemic risk, turning Hyperliquid into a financial infrastructure where any asset can become a perp if backed by a $20 million bond.

Garrett Jin, former CEO of BitForex, denied insider trading accusations in a post on X, rejecting ties to the Trump family and saying the wallet linked to a $735m Bitcoin short belonged to a client. The alleged short was placed less than an hour before Trump announced a 100% tariff on China, contributing to Bitcoin's drop to about $102k; critics argue Eye's evidence is circumstantial and a friend of Jin may have acted instead.

Hyperliquid launched HIP‑3, letting anyone staking 500,000 HYPE deploy permissionless perpetual swap contracts on its DEX. Deployers control margining, order books and can set up to 50 % fee shares. The change removes listing fees, cuts fixed costs, and turns Hyperliquid into permissionless infrastructure, enabling new DeFi asset classes from private‑company valuation perps to exotic derivatives, analysts said.

Hyperliquid’s HIP‑3 upgrade allows anyone staking 500,000 HYPE to launch independent perpetual swap contracts, setting custom margining, orderbooks and a fee share of up to 50%. The permissionless model removes exchange listing fees, lowers fixed costs, and lets builders earn revenue through fees, improving execution quality and cutting transaction costs, says QuickNode. Chainsight notes the move turns Hyperliquid into financial infrastructure, opening markets for non‑traditional assets and exotic derivatives; projects like Ventuals plan to use it for private‑company futures.

Hyperliquid CEO Jeff Yan says centralized exchanges, notably Binance, likely underreport liquidation volume during market crashes. CoinGlass data shows $16.7 bn of long positions and $2.46 bn of shorts liquidated Friday, but Binance’s per‑second snapshot stream may miss many bursts, potentially undercounting by up to 100×. During the flash crash, Binance saw glitches and de‑pegging, though its core engines stayed stable, yet some altcoins hit displayed $0. DeFi platforms like Ethena and Hyperliquid handled the surge without downtime, showing the resilience of on‑chain systems compared with centralized outages.

Hyperliquid has announced its HIP‑3 upgrade, set to activate at 9:15 UTC, which will let anyone launch a futures DEX on its platform by staking at least 500,000 HYPE tokens. The Layer‑1 chain supports high‑performance perpetual contracts with a HyperBFT consensus and an on‑chain CLOB, enabling hundreds of thousands of orders per second in under 0.2 seconds; its TVL has risen to $5.54 billion and daily volume to $812 million. The upgrade allows builders to create new DEXs, earn up to 50 % of trading fees, and could expand Hyperliquid into a broad Web3 financial ecosystem, drawing strong community support.

A Hyperliquid user lost about $21 million when a private key was leaked, allowing a hacker to sign and drain the wallet, according to on‑chain security firm PeckShield. The thief transferred the stolen crypto to Ethereum, moving roughly $17.75 million of DAI and over $3 million of MSYRUPUSDP. Security specialists say private keys can be exposed via phishing, malware, or unencrypted seed phrases, and recommend hardware wallets, offline backups, and avoiding online key entry.

A Hyperliquid user lost about $21 million after a private key leak enabled an exploit of the platform’s Hyperdrive lending protocol, PeckShield reported. The event occurs amid Hyperliquid’s rapid growth, including a points‑based rewards scheme and an airdrop to over 94 000 addresses, and a recent week’s trading volume exceeding $3.5 billion. Security experts urge traders to keep most assets offline, limit DEX wallet exposure, never share private keys, guard against phishing, and routinely audit approvals—echoing advice from MEXC and CertiK that DeFi remains a top attack vector.

MetaMask added native support for Hyperliquid, letting users trade perpetual futures directly in the wallet. The move targets the surging demand for leveraged crypto derivatives and aims to bring more people onto the blockchain. The wallet also plans to integrate Polymarket later this year and offers a reward program where users can earn points to unlock tokens such as Linea’s native token. Hyperliquid’s HYPE token rose 2.4% to $46.12 after reaching a $765 billion all‑time volume.