Decentralized buying and selling platform Hyperliquid hit a brand new milestone Thursday, with open curiosity climbing to a document $8.9b.
The platform additionally posted $5.4m in 24-hour buying and selling charges and reported a USDC whole worth locked of $3.2b, reflecting heightened exercise throughout its markets.
It comes as Bitcoin hit a contemporary all-time excessive, surging previous $111,000 in early Asian buying and selling hours earlier than retracing barely. The rally comes throughout a sequence of market tailwinds, together with enhancing US-China commerce sentiment and a credit score downgrade of US sovereign debt by Moody’s.
Hyperliquid hit a number of all-time highs right now, together with:
+ Open curiosity: $8.9B
+ 24h charges: $5.4M
+ USDC TVL: $3.2B
Onchain, clear markets are the longer term. pic.twitter.com/DBUWZZEkgk— Hyperliquid (@HyperliquidX) Might 22, 2025
These macro shifts have pushed traders towards options like Bitcoin, additional weakening the greenback and boosting crypto valuations.
Hyperliquid Sees File Trades Led by Bitcoin and a $1B Wager from High Dealer
Hyperliquid’s buying and selling quantity reached $19.15b over the previous 24 hours. BTC alone accounted for $11.5b of that, adopted by ETH at $4.03b and SOL at $1.2b.
Meme cash comparable to HYPE, kPEPE, and FARTCOIN additionally noticed substantial exercise, with HYPE crossing $454m in quantity.
Some of the notable developments was prime dealer James Wynn Actual’s leveraged place on BTC, which grew to become the primary to exceed $1b on Hyperliquid.
His place used 40x leverage and concerned over 10,000 BTC. The entry worth was $108,084, whereas the liquidation worth was $103,640. Because of this, the unrealized revenue stood at $17.5m on the time of reporting.
Funding Charges Maintain Regular as Merchants Wager Large on Volatility
As merchants flock to risky memecoins, tokens like kPEPE and WIF posted every day volumes exceeding $200m, with funding charges holding regular throughout most property.
Open curiosity in HYPE and SOL confirmed the quickest progress, up 18% and 82% respectively in 24 hours.
The bullish sentiment is bolstered by legislative momentum within the US Senate, the place the development of a stablecoin invoice has rekindled hopes for clearer regulation.
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