HyperliquidNews #13 - ETF Inflows, USDH Grants, TradeXYZ Records, MAS

This week had it all: record ETF inflows, $10M in grants for builders hit by the USDH sunset, TradeXYZ smashing every record, new listings, and Hyperliquid's answer to Singapore's regulator.

💰 ETF Week: Grayscale and 21Shares

On June 25, official data showed the Grayscale $HYPE ETF recorded $112.7M in inflows in a single day. Hyperdash officially confirmed the flows are coming from Hyper Holding Global LP, a day-one advocate of institutional adoption and supporter of the Grayscale Hyperliquid Staking ETF ($HYPG).

🏆 Records Everywhere

• All-time high of 258,549 active perp traders (wallets with at least one trade in the last 30 days).
• Over the past 24 hours, Hyperliquid accounted for 50.6% of on-chain perp volume and 58.6% of total on-chain open interest: $12.16B traded vs Aster $2.39B and Lighter $2.28B.
• Record 296,816 total open positions, TVL at $5.72B.
• Q2 2026 posted the first quarter-over-quarter volume increase since October 2025.
• Best priority-fee week ever: $838.37K in 7 days, roughly $43.6M of HYPE burned on an annualized basis. On June 29 alone, priority fees hit $120K in 24h, more than double Solana's total revenue that day.

⚡ TradeXYZ Breaks Everything

• Record month: $77.85B in June perp volume. Record quarter: $190.61B, up 73.8% quarter over quarter.
• Crossed 100,000,000 trades and $326B in cumulative volume.
• $20M in revenues generated, with a matching $20M received by the Assistance Fund and used to buy back and burn HYPE.
• 11 markets above $5B in volume, 8 above $10B, 8 with more than $1M in fees, 7 with over 50,000 unique traders.
• HIP-3 as a whole: $350B cumulative volume and a record June at $72.15B.

🆕 New Markets and Tickers

• $AMAT (Applied Materials) and $SFTB.NE (SoftBank) went live with 10x leverage, and $GRAM was listed spot with 3x.
• New auctions: the $IBIDEN HIP-3 ticker went for 500 HYPE (about $36K) and the $PRL spot ticker for about $31.8K.
• $MU already counts 25,900 traders and $10.02B in volume. $SKHYNIX became the 3rd most traded market on Hyperliquid with $666M in 24h, at one point out-trading both SOL and HYPE.
• Whale watch: the largest HIP-3 unrealized PnL is a $BRENTOIL short sitting at +$4.9M, while a $SNDK short came within 3.33% of liquidation.

💵 USDH Sunset: $10M in Grants

🌐 Ecosystem and Builders

• Builder codes rebounded strongly in June: Phantom +50%, MetaMask +43%, Rabby +40%, Involio +180%. Total builder-code revenue crossed $85.58M, and 33.57% of new users now onboard through builder codes, a quarterly record.
• Phantom passed 147,000 referred traders and $24.65M earned. For the first time, Fomo climbed to 2nd place in daily builder revenue.
• TradingView started integrating native Hyperliquid charts, beginning with PURR spot and perp.
• Liminal passed 19,000 unique depositors and Based crossed $15.2M in total revenue.

🗳️ Governance, HIP-4 and Regulation

• Validators voted on delisting $IP after its rebrand to DATA by Story Protocol, and Dreamcash announced the sunset of its HIP-3 markets, with settlement running June 30 to July 2.
• Hyperliquid responded to Singapore's MAS adding it to the Investor Alert List: it is permissionless, decentralized infrastructure, and an IAL listing is not a ban, an enforcement action, or a finding of wrongdoing.
• HIP-3 deployers will now earn additional free ticker deployments as the protocol scales.
• HIP-4 outcome markets crossed $101M in settlements, set a record open interest of $24.77M and an all-time daily volume high of $20.19M, now 5.86% of Polymarket's OI. The Argentina World Cup market alone traded $13.15M.

Stay informed.
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