Hyperliquid Hits New Records with Open Interest Reaching $10.1 Billion

On May 26, Hyperliquid hit new records with open interest reaching $10.1 billion and 24-hour trading fees touching $5.6 million.

May 26 began with Hyperliquid hitting new records as open interest reached $10.1 billion and 24-hour trading fees touched $5.6 million. The USDC total value locked (TVL) has also grown to $3.5 billion. This growth continues despite a brief compromise of its affiliated HyperFND Twitter account on May 24. Hyperliquid confirmed that its blockchain and other platforms remain unaffected.

The breach didn’t affect 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

The record-breaking open interest of over $10.1 billion highlights the massive scale of trader activity on Hyperliquid. Moreover, the 24-hour trading fees exceeding $5.6 million are a testament to the protocol’s role in facilitating liquidity and capital flow.

The protocol’s USDC TVL climbing to $3.5 billion showcases the rising trust from users and the influx of capital into the protocol. These milestones position Hyperliquid among the top-performing DeFi platforms. The rally in the HYPE token price confirms market confidence despite external challenges.

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.

“We can confirm that our main platforms and blockchain are unaffected. There was no compromise of internal systems or email credentials,” the team stated.

As of May 26, the team confirmed the account had been secured. A detailed investigation is ongoing with support from X’s security team. Hardware two-factor authentication (2FA) remained intact during the incident. The Hyperliquid team emphasized that user safety remains a top priority.

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 highlighted the role of DeFi in modern financial markets. In particular, the submissions focused on the potential benefits and risks of expanding CFTC regulation to include decentralized protocols and the importance of striking a balance between innovation and investor protection.

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.