超流动性超过10亿美元的TVL

超流动性开始了自己的生活，是一条集中的，特定于应用程序的链，但逐渐变成了更复杂和有趣的东西 - 一个动态的生态系统

This week, a decentralized trading upstart, Hyperliquid, crossed a very significant milestone: it now has more than $1 billion in Total Value Locked.

本周，一个分散的交易新贵，超级流动性跨越了一个非常重要的里程碑：现在，它的总价值锁定超过10亿美元。

Hyperliquid began its life as a focused, app-specific chain but has gradually transformed into something much more complex and interesting—a dynamic ecosystem that now attracts large crypto investors (or “whales”), active traders, and growing interest from institutional players.

Hyperliquid始于其专注的，特定于应用程序的连锁店，但逐渐转变为更复杂和有趣的东西 - 一个动态的生态系统，现在吸引了大型加密投资者（或“鲸鱼”），活跃的交易者，以及从机构参与者中越来越兴趣。

Hyperliquid Surpasses $1 Billion in TVL@HyperliquidX continues to strengthen its presence in the crypto market, recently surpassing the significant milestone of $1 billion in Total Value Locked. What began as an app-specific chain is now steadily evolving into a more robust and… pic.twitter.com/xw3h4FHGZ8

Hyperliquid在TVL@Hyperliquidx中超过10亿美元，继续加强其在加密货币市场中的存在，最近超过了总价值锁定的10亿美元的重要里程碑。最初的特定链条现在正在稳步发展为更强大的……pic.twitter.com/xw3h4fhgz8

— CryptoRank.io (@CryptoRank_io) May 8, 2025

- cryptorank.io（@cryptorank_io）2025年5月8日

This accomplishment signifies a key turning point for Hyperliquid as it establishes itself as a high-performance decentralized exchange meant especially for trading perpetual futures. The $1 billion TVL threshold not only reflects user confidence in Hyperliquid but also highlights its emergence as a serious player in the Layer 2 and DeFi derivatives spaces.

这项成就标志着超流动性的关键转折点，因为它将自己确立为高性能的分散交易所，尤其是对于交易的永久未来。耗资10亿美元的TVL阈值不仅反映了用户对超级流动的信心，而且还强调了其在第2层和Defi衍生产品空间中作为认真的球员的出现。

High Stakes: Whale Doubles Down on HYPE Short Position Amid Mounting Losses

高赌注：在越来越多的损失中，鲸鱼在炒作中加倍

While celebrating Hyperliquid’s swift expansion, a high-stakes drama unfolds on the platform’s trading floors. A leading whale trader has positioned a colossal leveraged short against HYPE—Hyperliquid’s native ecosystem token—even as the market has shifted against him.

在庆祝超级流动性的迅速扩张时，一部高风险戏剧在平台的交易楼层上展开。一位领先的鲸鱼交易员将巨大的杠杆作用（Hyperliquid的本地生态系统代币）定位为巨大的，即使是因为市场已经反对他。

A whale just deposited another $1.8M $USDC into #Hyperliquid, doubling down on a losing $HYPE short.

一条鲸鱼刚刚将180万美元的$ USDC存入#Hyperliquid中，使$ hype hype缩短了一倍。

In the past week, this whale has funneled $10.36M into a 5x leveraged position—now worth $29.1M—with a $1.24M unrealized loss and liquidation looming at $25.01.

在过去的一周中，这鲸已将10036万美元汇入了5倍的杠杆位置（现在价值2910万美元），其损失和清算的损失和清算为25.01美元。

Will the whale… https://t.co/5lZ7qV8R6w

鲸鱼会... https://t.co/5lz7qv8r6w

— Spot On Chain (@spotonchain) May 7, 2025

- 链上（@spotonchain）2025年5月7日

As per on-chain information, this whale has put in another $1.8 million of USDC into Hyperliquid in the last 24 hours, intensifying what looks like a seriously bearish stance on HYPE. This new capital is being used to bolster a very significant short position that is currently being opened with 5x leverage.

根据链上的信息，这鲸在过去24小时内将另外180万美元的USDC投入了超流动，增强了看起来像是严重看跌的炒作的立场。这项新资本被用来加强一个非常重要的短职位，目前正以5倍的杠杆作用打开。

Overall, the trader has now channeled $10.36 million into this one position over the last week. That leveraged bet has since swelled to $29.1 million, even as the trade heads into the red. At present, the whale is looking at an unrealized loss of approximately $1.24 million and a liquidation price that is gushing blood at $25.01.

总体而言，该交易员现在已在上周将1,036万美元纳入这一职位。此后，即使贸易陷入红色，这种杠杆押注已膨胀至2910万美元。目前，鲸鱼正在寻找大约124万美元的未实现损失，而清算价格则为25.01美元。

This action has attracted much focus from the Hyperliquid community and wider crypto trading spheres. Although high-leverage positions are standard fare in the perpetual futures market, the scale and timing of this specific trade—executed at a time when the platform was enjoying growth and positive momentum—has prompted a number of onlookers to scrutinize what the whale is really up to.

该动作吸引了超流动社区和更广泛的加密货币交易领域的重点。尽管高杠杆职位是永久期货市场中的标准票价，但该特定贸易的规模和时机（在平台享有增长和积极势头的时候，都受到了促使许多围观者的范围来仔细检查鲸鱼的真正范围。

Should the price of HYPE keep climbing and get close to the liquidation limit, it might set off a chain reaction of liquidations, and we’re not just saying that because it sounds good. We mean it. Why? Because it’s a huge position we’re talking about. Conversely, if sentiment shifts and the token’s price falls, the whale stands to make a ridiculous amount of money. If that happens, it could turn out that this THAAD (that’s right, we said it) in HYPE is a contrarian profit play.

如果炒作的价格继续攀升并接近清算限制，它可能会引发清算的链反应，而我们不仅仅是说这听起来不错。我们的意思是。为什么？因为这是我们正在谈论的巨大职位。相反，如果情绪转移和代币的价格下跌，则鲸鱼将赚到荒谬的钱。如果发生这种情况，可能会发现，炒作中的这种thaad（是的）是逆势利润。

Hyperliquid’s Growing Role in the DeFi Landscape

超流动性在Defi景观中的作用不断增长

The drama’s broader backdrop is Hyperliquid’s rapid ascension in the DeFi rankings. It has managed to build a nimble and efficient on-chain environment for advanced derivatives traders. Very few newer trading platforms can make this claim. In fact, most seem to trip into the same pitfalls of user bottlenecks, unstable UX, and liquidity fragmentation that have victimized DeFi trading platform projects since mid-2020.

这部戏剧的更广泛的背景是超级流动性在Defi排名中的迅速提升。它设法为高级衍生品交易员建立了一个敏捷有效的链环境。很少有新的交易平台能提出这一主张。实际上，大多数人似乎都陷入了相同的用户瓶颈，不稳定的UX和流动性碎片化的陷阱，这些损害自2020年中期以来一直受害。

Achieving $1 billion in TVL does not happen by accident. It requires a reliable platform that users can trust, and that is exactly what Hyperliquid has become. The platform is now attracting very sophisticated users, like hedge funds, who are interested in Hyperliquid's speed, interface, and other configurable features. To hedge fund types, $1 billion matters because it signifies a whole lot more than just another round number in the DeFi space.

实现10亿美元的TVL并没有偶然发生。它需要一个可靠的平台用户可以信任的平台，这正是超级流动性的变化。该平台现在吸引了非常复杂的用户，例如对冲基金，他们对超流油的速度，界面和其他可配置功能感兴趣。对于对冲基金类型的类型，10亿美元很重要，因为它不仅仅是在Defi空间中的另一轮数字。

Hyperliquid’s application-specific chain allows Hyperliquid to optimize for performance in ways that general-purpose blockchains can’t. We started out with a pretty narrow focus on perpetual futures, and while we still do that—and do it really well—we’ve begun to expand into an

Hyperliquid的特定于应用程序链允许超流动性以通用区块链不能的方式优化性能。我们从非常狭窄的关注永久未来开始，尽管我们仍然这样做，而且确实做得很好 - 我们已经开始扩展到一个