Hyperliquid
Hyperliquid is a blockchain‑based leveraged‑bet exchange. As of Oct 30 2026 it processes >$650 billion in cumulative volume and, through a May 2026 partnership, receives 90 % of the interest earned on the about $6 billion of customer USDC reserves, paid monthly regardless of trading activity. The exchange’s own trading fees covered >90 % of revenue by mid‑2025 and 64 % of revenue in September 2026. 99 % of the monthly fee income funds a treasury that buys and burns Hyperliquid’s HYPE token (price $95.89 on 2026‑10‑29). By September, Hyperliquid’s revenue from fees was $38 M and it earned roughly $105 M in September alone, matching the prior year’s figure. The platform also offers XRP futures (open interest $170.5 M as of 19 Oct 2026) and has seen on‑chain liquidations such as an 8,162.845 ETH short position (~$469k loss). Coinbase retains the remaining 10 % of reserve yields and the deposits themselves. Hyperliquid is partnered with Intercontinental Exchange for a regulated U.S. Intercontinental Exchange will launch regulated Hyperliquid‑based perpetual futures· Entity summary generated by Graphiti
Relation timeline
BY VALID-FROM DATE- HyperliquidUSES AS MAIN TRADING CURRENCYUSDC
Hyperliquid uses USD Coin as its main trading currency
- HyperliquidREPLACESGrayscale
Hyperliquid replaces USDH with USD Coin as its trading currency
- HyperliquidFUNDS BUY AND BURNEFG Asset Management
Hyperliquid directs 99% of its fees to a fund that buys and burns the HYPE token
- Coinbase, Inc.GIVES 90 PERCENT OF INTEREST ON 6B USDC DEPOSITHyperliquid
Coinbase Global, Inc. gives Hyperliquid 90% of the interest on $6 billion in USDC deposits
- HyperliquidPENDING APPROVAL WITHCommodity Futures Trading Commission
Hyperliquid is pending approval from the CFTC
- MachiLIQUIDATED BYHyperliquid
Machi was liquidated eight times over the past six hours on the Hyperliquid platform, wiping out all his positions.
- MachiHAS ACCOUNT ONHyperliquid
Machi has an account on the Hyperliquid platform, with $1.50 left in the account after liquidation.
- AlliumCONTINUES REPAIR FORHyperliquid
Allium continues Hyperliquid recovery
- HyperliquidCARRIED LIQUIDATIONS FORBitcoin
Hyperliquid carried $97 million of the hour’s liquidations for Bitcoin
- Trade.xyzBUILDS PRODUCTS ONHyperliquid
Trade[XYZ] builds products on Hyperliquid
- HyperliquidFONDS TRADING FEES FORHYPE
Some of Hyperliquid’s existing trading fees are used to purchase HYPE token
- Trade.xyzOFFERS PERPETUAL CONTRACTS ONHyperliquid
Trade[XYZ] offers continuous exposure to equities, stock indices, and commodities through perpetual contracts on Hyperliquid
- Trade.xyzHANDLED TRADING VOLUME ONHyperliquid
Trade[XYZ] handled more than $650 billion in cumulative trading volume on Hyperliquid in just over a year
- DefiLlamaREPORTS ALLOCATED FEESHyperliquid
DefiLlama reports that $12 million of Trade[XYZ] trading fees were allocated to Hyperliquid
- HyperliquidHAS DATA FROMDefiLlama
DefiLlama data shows Hyperliquid is the largest decentralized exchange to trade such instruments
- Stan DruckenmillerBACKSHyperliquid
Stanley Druckenmiller backs Hyperliquid venture
- HyperliquidTEAMS UP WITHNew York Stock Exchange
Hyperliquid venture teams up with NYSE
- HyperliquidISSUES TOKENHYPE
Hyperliquid issues the token HYPE.
- Intercontinental ExchangeLAUNCHES PERPETUAL FUTURES BASED ONHyperliquid
Intercontinental Exchange will launch regulated Hyperliquid‑based perpetual futures
- Trade.xyzRUNS ONHyperliquid
runs on Hyperliquid’s infrastructure
- Intercontinental ExchangePLANS TO BRINGHyperliquid
Intercontinental Exchange (ICE) plans to bring Hyperliquid
- Trade.xyzRUNS PERPETUAL FUTURES ONHyperliquid
trade[XYZ] runs perpetual futures on Hyperliquid
- Intercontinental ExchangePLANS FUTURES ONHyperliquid
ICE plans 24/7 US futures on Hyperliquid
- BeInCryptoPUBLISHEDHyperliquid
Hyperliquid (HYPE) Price Performance. Source: BeInCrypto
- HyperliquidTOKEN PRICE OFHYPE
Hyperliquid’s token HYPE has a price of $95.89 as of 2026-10-29
- ShieldTXPART OFHyperliquid
ShieldTX is a Hyperliquid privacy tool.
- HyperliquidRUNS WHEAT PERPETUAL CONTRACT FORChicago wheat futures
Hyperliquid hosts a wheat perpetual contract that tracks Chicago wheat futures on its platform as of 2026-10-28
- PaywardPLANS TO SUPPLY PRICING DATA FORHyperliquid
Payward plans to supply pricing data for futures powered by Hyperliquid
- HyperliquidSAYSPayward
Hyperliquid says Payward
- HyperliquidPROVIDESHyperliquid Smart Money Copy Trading
Hyperliquid provides trader profiles for Hyperliquid Smart Money Copy Trading
- HyperliquidUSESHyperCore
Hyperliquid uses HyperCore’s order books and margin infrastructure
- HyperliquidDIRECTS FEES TOHYPE assistance fund
Hyperliquid directs fees to the HYPE assistance fund
- trade[XYZ] fee scheduleSPLITS FEES WITHHyperliquid
trade[XYZ] fee schedule indicates its standard fees are split equally between Hyperliquid and the operator
- SpaceXTRADING TRADE ONHyperliquid
SpaceX had turnover across Hyperliquid
- HyperliquidDEPLOYSHyperliquid HIP-3 framework
Hyperliquid deploys the Hyperliquid HIP-3 framework to define contract specifications and oracles
- Grayscale reportMOVED TO BRING TO US TRADERSHyperliquid
Intercontinental Exchange, Inc. moved to bring Hyperliquid to US traders in the week before 30 Oct 2026
- Dune AnalyticsCOVERSHyperliquid
Dune covers perpetual futures trading data from Hyperliquid.
- SpaceXHAS SYNTHETIC PERPETUAL FUTURES ONHyperliquid
SpaceX had synthetic perpetual futures trading on the Hyperliquid network.
- LighterLISTED WITHHyperliquid
Lighter (LIT) was listed next to Hyperliquid in Delphi Digital’s report
- GrayscaleCOVERINGHyperliquid
Grayscale’s expansion covers Hyperliquid
Relations are facts Graphiti extracted from reports, not verbatim quotes. An end date means later reporting showed the relation no longer holds.
Events 12
- Hyperliquid Makes Money in a Bear Market Without Anyone Trading, Grayscale Says1 cited report · 2026-10-31
- Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest Day1 cited report · 2026-10-30
- Every Crypto is Down, Except HyperLiquid. Why?2 cited reports · 2026-10-30
- Allium restores 18 major chains, but only specific platforms are safe1 cited report · 2026-10-30
- Musk and a Wall Street Billionaire Eye a Market Bitwise Says 99.9% of Americans Don't Know6 cited reports · 2026-10-30
- Wheat Posts Longest Losing Streak Since 1997: What It Means for Portfolios1 cited report · 2026-10-29
- Avail launches ShieldTX privacy tool targeting copy-trading bots on Hyperliquid1 cited report · 2026-10-28
- CF Benchmarks brings Wall Street pricing infrastructure onchain, including data used by BlackRock1 cited report · 2026-10-27
- Hyperliquid says Kraken parent Payward to be first CFTC-regulated HIP-3 deployer1 cited report · 2026-10-27
- XT Exchange: From Following Hyperliquid Traders to Copying Their Strategies1 cited report · 2026-10-27
- SpaceX perpetual futures traded about $6 billion after earnings1 cited report · 2026-10-24
- Dune launches real-time data feeds covering 200 onchain trading venues1 cited report · 2026-10-23
Source reports 30
- Hyperliquid Makes Money in a Bear Market Without Anyone Trading, Grayscale SaysBeInCrypto · 2026-10-31
- Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest DayDecrypt · 2026-10-30
- Every Crypto is Down, Except HyperLiquid. Why?BeInCrypto · 2026-10-30
- Allium restores 18 major chains, but only specific platforms are safeCryptoSlate · 2026-10-30
- Bitcoin Bulls Take the Biggest Hit in a $1.49 Billion Crypto Liquidation DayBeInCrypto · 2026-10-30
- Musk and a Wall Street Billionaire Eye a Market Bitwise Says 99.9% of Americans Don't KnowBeInCrypto · 2026-10-30
- Crypto Liquidations Top $628 Million in an Hour as Binance Hack Fears Sink BitcoinBeInCrypto · 2026-10-30
- NYSE owner takes Trade[XYZ] stake as it plans US Hyperliquid futuresCryptoSlate · 2026-10-30
- HYPE teases all-time high as NYSE owner ICE eyes US Hyperliquid perpsCointelegraph · 2026-10-30
- Stanley Druckenmiller's first X post backs Hyperliquid venture after $23 million indirect investmentCoinDesk · 2026-10-30
- Hyperliquid's HYPE Jumps 13% as NYSE Owner ICE Moves to Bring Its Perpetual Futures to the USDecrypt · 2026-10-29
- HYPE surges 15% as NYSE parent ICE moves to bring Hyperliquid perps to USThe Block · 2026-10-29
- Wheat Posts Longest Losing Streak Since 1997: What It Means for PortfoliosBeInCrypto · 2026-10-29
- Morning Minute: Hedge Funds Left the BTC ETF Trade and Sovereign Wealth Stepped InDecrypt · 2026-10-29
- HYPE Token Rallies As NYSE Owner Brings Hyperliquid to AmericaBeInCrypto · 2026-10-29
- Avail launches ShieldTX privacy tool targeting copy-trading bots on HyperliquidThe Block · 2026-10-28
- CF Benchmarks brings Wall Street pricing infrastructure onchain, including data used by BlackRockCoinDesk · 2026-10-27
- Hyperliquid says Kraken parent Payward to be first CFTC-regulated HIP-3 deployerThe Block · 2026-10-27
- XT Exchange: From Following Hyperliquid Traders to Copying Their StrategiesBeInCrypto · 2026-10-27
- SpaceX perpetual futures traded about $6 billion after earningsCryptoSlate · 2026-10-24
- Dune launches real-time data feeds covering 200 onchain trading venuesCointelegraph · 2026-10-23
- Crypto traders price India telecoms company Reliance Jio's IPO at about $110 billionCoinDesk · 2026-10-22
- Why Is Lighter Up 23% This Week? 2 Catalysts Explain the MoveBeInCrypto · 2026-10-22
- Grayscale Opens 10 Crypto ETFs to Investors, But There's a CatchBeInCrypto · 2026-10-22
- Three Companies Have Notified the SEC of Intention To Start Tokenized Stocks TradingBitcoin Magazine · 2026-10-22
- XRP flashes a potential bottom signal, but $15.7 billion in exchange supply threatens recoveryCryptoSlate · 2026-10-21
- Ripple brings Wall Street into 24/7 stock bets, but HSBC warns markets are still thinCoinDesk · 2026-10-21
- Crypto wallet security crisis deepens as NGRAVE users face $2.65 million phishing attackCryptoSlate · 2026-10-20
- Whale loses $469,000 in hours on Hyperliquid, yet re-enters with $16M ETH short betCryptoSlate · 2026-10-20
- Tether loses nearly $5 billion across crypto exchanges as USDC and RLUSD rivals pay to win liquidityCryptoSlate · 2026-10-20