Hyperliquid (HYPE)

Some positive news is that HIP-3 is not slowing down and largely benefitting from the macro volatility and has $2.35Bn outstanding open interest across HIP-3 markets. HIP-3 is on it's way to becoming the dominant product on Hyperliquid flipping both the open interest and daily executed volume on it's platform eclipsing digital asset perpetual trading. HIP-3 markets have in aggregate executed $150Bn since their inception. March alone executed $72Bn of this volume and if you remove growth mode then you this would net $388M in gross revenue w/ $194M being directed to the Assistance fund.

$HYPE is showing the classic signs of short-term exhaustion right now. 13% weekly decline. Derivatives volume is crashing. Negative netflows. Long liquidations are piling up. This is not panic. This is the market separating tourists from conviction holders. Controlled unwinds like this always create the next entry point. The question is: are you watching, or are you positioning? Follow me. I follow back fast. Try me. 👀

According to MLM monitoring, Hyperliquid whale Loracle transferred 450,000 HYPE from HyperEVM 20 minutes ago and then started selling, valued at about $15.5 million. https://t.co/3PRQXZ1dSJ

$HYPE: some big selling coming in from Loracle, 15m worth I think. Low $30s seems decent? 200d EMA right around here too. More watching https://t.co/DTWxA1VwQQ

📉 Perp DEX Volume Plunges 56% From Peak Total perpetual decentralized exchange volume fell to $536B in March 2026, down from a $1.2T high in October 2025. Hyperliquid remains the leader with $189B, while newer entrants like Lighter, Aster, and edgeX are fading fast. https://t.co/PCJ8pcj2Iw

Crypto gave up building real DeFi years ago. What we have now is onchain finance. For me real DeFi means: - no admin keys that can modify or upgrade contracts (most are upgradable projects) - no multisig that can pause withdrawals, block addresses (like Hyperliquid) - no centralized oracle feed or offchain dependencies that a single provider can manipulate (Aave falls here) And no governance token concentration that lets one entity do whatever it wants. In this sense only Uniswap falls under pure DeFi. Perhaps Curve too. Even OG MakerDAO had dependency on oracles but pivoted to pure onchain finance protocol. Or Reflexer's RAI that didn't target direct $1USD peg needed oracle. Liquity V1 was a good try but still needed oracles. a16z vision of 'progressive decentralization' was a right one, but we gave up on it. So blaming Drift for not being DeFi is true, but basically nothing is.

$HYPE Purple = key level to look for longs if it gives. Do I still think $13 is possible? Yes. Did I nail the trade off the 21 lows? Yes. Did I also miss a great buying op from 30-43? Also yes. Current thinking: > Purple box = good level to look for a long, which will either: A) Send it to Range High ~ 51 (then I'm obv wrong on $13 as major upside target would hit before major entry) B) Put in a marginal higher high, before momentum rolls over (still a good trade, but watch for that momentum switch) C) Fail and we're stopped out. I can navigate the above, while *still* thinking $13 is *possible*, but the chart and how we print over the coming weeks will dictate how *probable* that is. Strong opinions, loosely held. So to those who are getting worked up at the $13 prediction. Calm your tits. It's just a trade op. Anyway GL.