Weekly insights
Short briefings on the Hyperliquid ecosystem — what changed, what's worth watching, and what we got wrong last week.
Get the Hyperliquid weekly briefing
A short Monday-morning email — what moved, what launched, what to watch. Auto-generated from live HL data, then sanity-checked. No spam, unsubscribe anytime.
Week 1: HLP holds the line as USDH supply contracts 15%
HLP TVL holds around $373M with -4% 7d PnL drift while USDH circulating dropped from $82M to $69M. HIP-3 deployers continue to consolidate around trade.xyz, which now accounts for over $1.2B of 24h volume against $9.8M from the next-largest deployer. Lending stays hot — HyperLend at +24% TVL, Felix flat, Kinetiq quietly compounding to $1.09B. Funding pressure is concentrated on GMT and TON; both worth a closer look this week.