Hyperliquid bucket list update (HYPE $94): - Spot listings for majors☑️ - Binance lists spot HYPE✅ - Coin margin for perps☑️ - HL lists non-crypto perps☑️ - A T2 CEX uses HL for perps liquidity☑️ - HL flips OKX in OI☑️ - Perps allowed for US users☑️ - HYPE enters the top 5

It is now confirmed that HSI is NOT the OTC buyer of Hyperliquid Labs’ recent 3.75M HYPE unlock. The onchain evidence said this but it’s always nice to get confirmation from the horse’s mouth. We will likely not know who the buyer is unless they decide to announce themselves.

1.25M HYPE was staked with the HSI x Unit validator, remaining is unstaked. I've been told Payward stakes with Bitwise so the buyer is likely NOT Payward. However, the receiving wallets were funded via Kraken while HSI historically uses Anchorage, so the buyer is still TBD.

The team’s OTC sale is likely to resolve today. While the identity of the buyer is a mystery, I expect a reveal via the creation of their own validator (3.75M is just enough to join the active set). The institution with the most incentive to do this is Payward (Kraken), IMO.

On January 2024, Jeff made the decision to decline a check for $100M from VCs. His team was in disbelief. Iliensinc’s response was, “what the fuck?”. Fast forward to 2026, the team is about to OTC sell a sliver of their ownership of Hyperliquid for $300M+.

I've always believed Hyperliquid had an advantage over its incumbent TradFi counterparts due to onchain markets inherently trading 24/7 but never did I think TradFi companies would simply refuse to work as hard. CME is simply giving up weekend price discovery to Hyperliquid.

Today is the day where the reserve yield for ALL USDC on Hyperliquid will be given to the AF for HYPE buybacks for the month of September. Expect a recurring $10K limit bid at mid price until the funds are exhausted. $14.58M is pending transfer: hypurrscan.io/address/0x5000…

There has been a shortage of borrowable USDC on HyperCore lately. When > 80% of all USDC is borrowed, lender APY starts shooting up exponentially from the baseline sub 3.5%, currently at 7%. For the stablecoin yield farmers, simply depositing USDC on HL will net you this.

Hyperliquid Labs has entered an OTC deal to sell 3.75M tokens to an institution for the October team unlock. None of it is being sold on the open market. Now we know why the team unlock did not occur as it regularly does this month.

The Hyperliquid team must be so busy with planning the events going on next week that they are late with unstaking the team allocation for October. @Hypurr, you up?

2026 has been wild. First we got Trump mentioning Hyperliquid by name and now we have CZ openly glazing Hyperliquid and crediting HYPE for leading all coins out of the bear market. “HYPE coin jumps and then every other coin follows. BNB went up…even Bitcoin went up!”

Hyperliquid has not only regained all the OI since the washout on 10/10 but is even making new ATHs! This is even more impressive when you look at where other exchanges are at relative to their 10/10 level. Binance is ~20% under while Bybit ~50%.

With native borrowing against HYPE available, Jeff has also increased the global & per user borrow caps. As usage increases, so will the interest rate USDC holders on HyperCore get (currently 3.2% APY), which will attract more deposits. As USDC TVL goes up, so do HYPE buybacks.

As a crypto trader for 9 years, the most valuable skill I acquired is executing trades based on facts (the market structure of the chart, flows, where we are in the cycle, etc). It’s common for people to close trades based on emotions instead, e.g. “I’m up/down too much, time to derisk”. Holding the HYPE airdrop is a great example as a case study. Holding HYPE from $2 to $35 was easy because it was clearly undervalued. Then holding during the bear market had good R/R given the DAT and ETF flows felt underpriced to the point holding something else didn’t feel worthwhile. This ended up being proven true as HYPE was the only coin making new ATHs during the bear market. You can make the argument that HYPE is no longer undervalued in its present form but continuing to hold now can be warranted given that: i) There is a tangible long term vision coming together that you can bet on. ii) We are at the beginning of a bull market and if you have been around the block you’d know that in a bull market tokens don’t trade to what are perceived as rational valuations but rather based on attention and whether the core holders are cultists. And there’s no better signal for long term attention than Trump saying Hyperliquid during a presser. iii) A coin that is strong in a bear is only going to continue to be strong when the broader market is rallying. This has been proven true thus far with HYPE/BTC trading 1% below it’s ATH. I am a proponent of taking some chips off the table if you’re happy with the profits but it’s important to keep in mind that this is an action for your own peace of mind, not because the trade is over and there is no more upside to capture.

HYPE is now making new ATHs above $90. Those of you in the old school who did not think President Trump would ever say Hyperliquid simply do not understand the importance housing all finance. The future of finance coming onchain is mathematically programmed in this paradigm.

Hyperliquid bucket list update (HYPE $78): - Spot listings for majors☑️ - Binance lists spot HYPE - Coin margin for perps☑️ - HL lists non-crypto perps☑️ - A T2 CEX uses HL for perps liquidity✅ - HL flips OKX in OI☑️ - Perps allowed for US users☑️ - HYPE enters the top 5

Coinbase x Hyperliquid coded.

HIP-3 is getting some optional functionality called HIP-3* which seems to be KYC related features. HIP-3 deployers will now be able to add and remove users from an allowlist as well as modify their orders. This is likely an extension of what will be a US regulated Hyperliquid.

In less than a year, Hyperliquid Strategies have nearly hit the $1B limit on their credit facility which is a testament to their executation as a DAT and the tradfi interest in their company as a HYPE investment vehicle. They have now filed for an increased limit of $2.5B.