hyperliquid

According to Bloomberg, the crypto market maker Wintermute has become the main user of Hyperliquid's priority data auction mechanism. This mechanism allows traders to bid for the right to view incoming buy and sell orders before they are processed by the exchange, giving them a few milliseconds to adjust their quotes or hedge on other platforms.Blockchain analytics platform Loris Tools found that in the past month, a wallet associated with Wintermute won about 76% of the highest priority data slot auctions.This mechanism has raised questions about whether it favors large trading firms. DRW founder Don Wilson previously questioned whether it is fairer than the server hosting mechanisms of traditional exchanges and whether it can meet U.S. regulatory requirements.The founder of Loris Tools believes that to fully leverage this speed advantage, direct connections to nodes operated by the Hyperliquid Foundation are necessary, and this access has trading volume and token staking requirements.Wintermute founder and CEO Evgeny Gaevoy stated that the auctions are more transparent than the low-latency networks and server hosting of traditional finance, and the company primarily uses this service for cryptocurrency trading. Hyperliquid Labs stated that anyone can participate in the bidding, and all priority fee payments are publicly recorded on-chain.

According to Onchain Lens monitoring, Hyperliquid has burned HYPE worth 1.53 million dollars within 24 hours, repurchasing 21,200 HYPE at an average price of 72.31 dollars.So far, a total of 50.47 million HYPE has been burned, equivalent to approximately 3.55 billion dollars, accounting for 5.05% of the supply; total revenue is 1.41 billion dollars, with nearly 30 days of revenue at 6.882 million dollars.

Hyperliquid Research Collective released the Hyperliquid Q3 2026 report, which was compiled by Four Pillars and GLC Research. The third-quarter agreement revenue increased by 21.7% compared to the second quarter, reaching $190.9 million. Hyperliquid began earning USDC reserve revenue sharing on August 27, and within a month, this revenue amounted to $17.3 million, accounting for about half of the revenue increase this quarter. The Assistance Fund spent $149 million in the third quarter to purchase HYPE.The average daily users of Hyperliquid reached 65,161 traders, setting a quarterly record. In HIP-3, the trading volume of stocks surpassed that of commodities. On August 19, U.S. President Trump expressed to technology and cryptocurrency industry executives at the White House that the Commodity Futures Trading Commission is pushing to bring Hyperliquid to the U.S. Less than a month later, Kraken's parent company proposed to establish a U.S. derivatives trading venue on Hyperliquid, with Bitnomial serving as the operator. As of the end of the quarter, the proposal is still awaiting regulatory approval. Sunny Shi from Syncracy Capital advocated for buybacks in the preface and expects that the independent team built on Hyperliquid will drive further growth.

According to Onchain Lens monitoring, Wintermute has achieved historical profits of 227.01 million dollars on Hyperliquid, with a current position of 92.45 million dollars, including a short position of 72.45 million dollars.In the last 30 days, profits amounted to 18.9 million dollars, with an unrealized profit of 3.13 million dollars. The largest short positions are in ETH (13.84 million dollars), SOL (11.24 million dollars), and HYPE (6.51 million dollars).

According to the market information platform Liquid247.xyz, the Hyperliquid address 0x3ff54f...f705 currently holds a BTC short position of 889.386 coins, with a nominal value of 65.4623 million USD.At the time of publication, BTC is quoted at 73,604 USD.

According to monitoring by Mlm on chain, Nvidia (NVDA) has currently become the largest HIP-3 market by open contract size on Hyperliquid, and it is the fourth largest market on the platform, only behind BTC, ETH, and HYPE. Its open contract size has reached 535 million dollars, growing 5.8 times in the past 7 days, which is 2.4 times the previous peak of 227 million dollars in June of this year.Currently, the NVDA market's daily trading volume has surpassed 1 billion dollars for the first time. The largest single position is a short position of 348,000 shares of NVDA held by Jump, valued at approximately 56 million dollars, which is a non-directional position. The largest directional position is a long position of 191,000 shares of NVDA, valued at approximately 30.7 million dollars, which has been gradually built up over the past 24 hours, with an average entry price of 174.43 dollars, currently showing an unrealized loss of about 2.6 million dollars.The market has a total of 9,517 trading wallets, of which 83% hold long positions; market makers account for 70% of the short open contract size. The average entry price for longs is currently 169.55 dollars, while the mark price is 160.66 dollars, which is about 5.2% lower than the average entry price. The total unrealized losses for all NVDA long positions have reached 14.6 million dollars.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to 5.971 billion USD, with long positions at 2.748 billion USD, accounting for 46.02% of the holdings, and short positions at 3.223 billion USD, accounting for 53.98%. The profit and loss for long positions is -163 million USD, while for short positions it is 252 million USD.Among them, the whale address 0x5b5d..60 has shorted BTC with a 5x leverage at a price of 76383.1 USD, currently showing an unrealized profit and loss of 6.3977 million USD.

According to data shared by analyst Adam, the decentralized exchange (DEX) trading volume on the Hyperliquid ecosystem L2 network Elysium reached $122 million on its first full trading day after the mainnet launch, involving approximately 58,700 wallets. Of this, 33.2% of the trading volume (about $40.5 million) came from Launchpad tokens.Currently, Montra holds a leading position in the Launchpad token market, with a market share of up to 71.1%.

According to The Defiant, Buildix data shows that the exposure of Hyperliquid's perpetual contracts related to Anthropic across multiple markets has surpassed 300 million dollars.Among them, the exposure of the Trade.xyz contract reached 109.4 million dollars, which is about 30% higher than the snapshot data recorded by The Defiant on November 10.

The yield protocol Hyperwave on Hyperliquid announced that due to rising operational costs and regulatory uncertainties, the project has decided to gradually cease operations. The protocol will officially close on December 16, and users are advised to withdraw their funds before then to facilitate faster withdrawals.After the closure, any remaining net asset value will be returned to the wallets holding the treasury tokens. Currently, all treasuries have been switched to a state that only allows fund withdrawals, including GWAVE, and users can unstake at any time. The treasury will continue to generate yields while converting funds into underlying assets and preparing for user withdrawals.Additionally, all income generated before the protocol's closure will be used to buy back and destroy HWAVE. The project team reminds users to pay attention to security and be wary of phishing links that may appear during the closure period. If there are any questions regarding the closure arrangements, users can contact the official support team via Discord or in-app.

According to the market information platform Liquid247.xyz, the Hyperliquid address 0xecb63c...2b00 currently holds a short position of 12,863.9 ETH, with a nominal value of 26.4315 million USD.At the time of publication, ETH is quoted at 2,054.70 USD.

According to on-chain analyst Yu Jin's monitoring, the whale @fiyopi recently opened a long position of 24,500 ETH (worth 50.59 million USD) on Hyperliquid at 2,207.5 USD, currently facing a loss of 3.5 million USD. One of their addresses is named "Machi is ugly dog."

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to 6.055 billion dollars, with long positions at 2.774 billion dollars, accounting for 45.81% of the total holdings, and short positions at 3.282 billion dollars, accounting for 54.19%. The profit and loss for long positions is -156 million dollars, while for short positions it is 248 million dollars.Among them, the whale address 0x5b5d..60 has shorted BTC with a full margin at a price of 76,386 dollars, currently showing an unrealized profit and loss of 6.5147 million dollars.

According to Onchain Lens monitoring, a wallet on the decentralized perpetual contract trading platform Hyperliquid has accumulated approximately $4.955 million in rewards through 81,741 referrals.Among them, approximately $4.94 million is in USDC, and a total of about $14,150 is in USDe, USDT0, and USDH.

Cryptocurrency analyst Tom Wan posted on the X platform that the market share of Ethereum stablecoins has dropped to 46%, a historic low. Over the past year, the supply of stablecoins on the Ethereum chain has decreased by $32.5 billion, while the total supply of stablecoins in the entire market has only decreased by about $10 billion.During the same period, the supply of Tron stablecoins increased by $16.2 billion, raising its market share to 32%; Hyperliquid and Solana increased by $1.6 billion each. Additionally, the newly launched blockchains this year, including Arc, X Layer, Robinhood Chain, Tempo, and Monad, collectively added about $5.2 billion in stablecoin supply.

According to the market information platform Liquid247.xyz, the Hyperliquid address 0x0622a2...8088 shorted 5,147.38 ETH, with a nominal value of 24,485,800 USD.At the time of publication, ETH was quoted at 2,051.70 USD.

The Solana ecosystem meme coin issuance platform Pump.fun announced that its perpetual contract product built on Hyperliquid has added a cross margin feature, along with the launch of TWAP execution and manual margin adjustments.Previously, Pump.fun launched its perpetual contract service on October 28 using an isolated margin model, and this update adds a cross margin option based on the original isolated model.

According to Onchain Lens monitoring, a certain whale bet on BTC and ETH, suffering a loss of 5.08 million dollars after being liquidated 3 times on Hyperliquid, with a position value of 35.13 million dollars; the total account loss is 5.29 million dollars.

According to the market information platform Liquid247.xyz, the Hyperliquid address 0x3ff54f...f705 currently holds a BTC short position of 1,249.169 coins, with a nominal value of 93.3129 million USD.At the time of publication, BTC is quoted at 74,700 USD.