Welcome to this week's Hyperliquid newsletter! On the menu: an all-time record in open interest market share, Africa's biggest exchange going live on Hyperliquid, a wave of new tickers including Ansem's, a mysterious VIP button, and HIP-4 crossing $120M in settlements. (Missed #13? Read it on the website.)

🏆 Records Everywhere (Again)

  • New all-time high in global market share: Hyperliquid's open interest now represents 8.9% of global perp OI, equivalent to 21.4% of Binance, 51.8% of Bybit and 77.8% of OKX.
  • Total open positions hit a record 305,508.
  • On July 7, 12 markets each cleared $100M in 24h volume, 8 of them HIP-3 markets deployed by TradeXYZ.
  • TradeXYZ now runs 3.54x more open interest than Lighter.
12 Hyperliquid markets above $100M in 24h volume

📈 The HIP-3 Fee Machine

  • The HIP-3 ecosystem crossed $375.71B in cumulative volume, with 342,458 unique traders and $23.76M in fees.
  • $XYZ100 alone has generated over $7M in fees: $3.5M to TradeXYZ, $3.5M to the Assistance Fund, which uses them to buy back and burn HYPE (we mapped exactly how those flows work in this week's article).
  • $CL crossed $5M in fees on more than $63B of volume: #1 HIP-3 market by volume, #3 by total fees behind the GOLD market and $XYZ100.
  • $SKHYNIX climbed to 2nd most traded market on all of Hyperliquid at one point, with $951M in 24 hours.
XYZ100 has generated over $7M in fees

🌍 VALR Brings Hyperliquid Perps to Africa

Africa's biggest crypto exchange, VALR, launched VALR Perps, powered by Hyperliquid through Builder Codes: 200+ perpetual markets covering stocks, indices, commodities, metals, forex and crypto, live on web with mobile coming soon. VALR is also the first centralized exchange to integrate Hyperliquid's Builder Codes.

🆕 New Tickers: Semiconductors and AI

  • $SKHY (SK Hynix, ahead of its ADR debut on the Nasdaq) was bought at auction for 500 HYPE ($34,101) by TradeXYZ, and is already live with 10x leverage as of this morning.
  • $SHAZ (SharonAI Holdings) went live with 10x leverage via TradeXYZ.
  • On spot, the DRV ticker was bought by DeriveXYZ for 500 HYPE ($33,984).
SHAZ live on TradeXYZ

🤝 Unit Buys Ansem's Ticker

Unit (@unitxyz) bought the $uANSEM spot ticker at auction for 500 HYPE ($33,669), paving the way for $ANSEM, the token of Ansem (@blknoiz06), one of crypto Twitter's most followed accounts, to trade on Hyperliquid spot. Good to see Unit positioning itself early on trending new tokens.

Unit buys the uANSEM ticker

🎯 HIP-4 Keeps Compounding

Hyperliquid Outcomes crossed $120M in total settlements, with the second-best settlement day on record ($5M settled in a day) and 14.1K unique traders so far.

HIP-4 settlements cross $120M

🧲 Ecosystem and Whales

  • MetaMask has now earned over $3M from referral sign-ups alone (59,732 traders referred), on top of its Builder Code revenue.
  • Liminal users have collectively earned more than $3M in yield.
  • The top 5 positions by unrealized PnL across all of Hyperliquid are all on HYPE: $88.29M of unrealized profit on $195.7M in open positions.
  • And a live reminder that wicks happen: the GOLD market on TradeXYZ dropped over 2% in one second after a $6.97M market sale, then instantly recovered. As we explained this week, that wick liquidated no one.
Top HYPE whale positions

🛍️ A VIP Button Appears

Some users spotted a new "Confirm VIP" button on their Portfolio page. Per the official announcement: sign the message and follow up via Discord or Telegram to receive Hyperliquid merch in the future and get a more direct line of communication with the team. If you qualify, sign with one address only; shipping excludes restricted jurisdictions. This is the third time the team has run this program, and it targets the platform's biggest users.

Confirm VIP button announcement

This week on the website: Why a Wick Can't Liquidate You and The Assistance Fund: Where Every Fee Goes.

Stay informed.
HYPERLIQUID NEWS