Hyperliquid Hits All-Time Highs with $10.1B Open Interest and $3.5B USDC TVL

On May 26, Hyperliquid hit new records with open interest reaching $10.1 billion and 24-hour trading fees touching $5.6 million. The USDC total value locked (TVL) has also grown to $3.5 billion. This growth has continued even after a brief hack of its affiliated HyperFND Twitter account on May 24. Hyperliquid confirmed that its blockchain and other platforms remain unaffected. This breach hasn’t affected the HYPE token growth in the green market. The HYPE token now trades at $38.85, marking a significant price surge during a volatile week.

Hyperliquid Hits Record-Breaking Metrics Signal DeFi Strength

Hyperliquid grabs attention as it reaches all-time highs, as the protocol achieves multiple developments. The $10.1 billion open interest showcases strong trader engagement. Additionally, $5.6 million in daily fees reflects increased market activity and liquidity. The protocol’s USDC TVL climbed to $3.5 billion, highlighting rising user trust and capital inflow. These milestones position Hyperliquid among the top-performing DeFi platforms. The rally in the HYPE token price confirms market confidence despite external challenges.

James Wynn Makes Billion-Dollar Bitcoin Short on Hyperliquid

Crypto trader James Wynn, known as “moonpig,” placed a $1 billion short on Bitcoin via Hyperliquid. He used 40x leverage, risking nearly $50 million of his balance. This came right after closing a $1.2 billion long position. That long exit cost him $17.5 million in historical profit. He admitted to cutting losses in a post on X. Bitcoin moved slightly on Saturday, from $107,300 to $108,000. Wynn’s short entry at $107,077 turned quickly profitable. He reportedly earned $3 million. His liquidation point sits at $110,446. Despite losses, he holds $40 million in total profit. Traders are watching his next move closely.

HyperFND Twitter Account Compromised Briefly

On May 24, the official HyperFND X (formerly Twitter) account was compromised. The Hyperliquid team immediately urged users to avoid links or messages from the account. The core blockchain infrastructure remained unaffected. No compromise was reported in internal systems or email credentials. As of May 26, the team confirmed the account had been secured. A detailed investigation is underway with support from X’s security team. Hardware two-factor authentication (2FA) remained intact during the incident. The Hyperliquid team emphasized that user safety continues to be the team’s focus. The platform also advised users to verify suspicious announcements across official channels such as Discord and Telegram. Legitimate posts will not ask for urgent actions. Vigilance remains key in the current DeFi landscape.

Regulatory Engagement with CFTC Highlights Long-Term Vision

On May 23, Hyperliquid Labs submitted two formal comment letters to the U.S. Commodity Futures Trading Commission (CFTC). The submissions responded to CFTC’s recent requests on perpetual derivatives and 24/7 trading. This move demonstrates Hyperliquid Labs’ commitment to shaping regulatory dialogue. The letters emphasized the role of DeFi in modern financial markets. Hyperliquid Labs pointed out that protocols like Hyperliquid can improve market integrity, user protection, and transparency. Supporting DeFi growth in the U.S. with clear frameworks could help the nation retain its edge in financial innovation. Hyperliquid’s involvement with regulators reinforces its credibility. As global interest in DeFi rises, such engagements can help bridge the gap between innovation and compliance.

What to Watch Next in HYPE Token?

As the HYPE token trades at $38.85, the coming weeks will test price sustainability. Market participants are watching whether trading volumes and TVL can maintain momentum. The recent ATH shows the project’s resilience during opportunity and crisis. “While the breach didn’t stall the rally, it raised questions about long-term risk resilience. Users and observers expect detailed transparency from the team. Continued vigilance and communication could further strengthen community trust.

On the regulatory front, the CFTC’s response to DeFi commentary may impact the broader market. Any signals of future policy could affect liquidity and participation in the U.S. market. Overall, Hyperliquid’s recent performance points to strong fundamentals. Security awareness, community trust, and proactive engagement with regulators will remain central to its growth path. The HYPE token’s climb mirrors wider adoption, making Hyperliquid one of the key DeFi platforms to follow closely.