Hyperliquid DEX Surpasses Ethereum and Solana Amid $100M Loss by Trader
Decentralized exchange (DEX) Hyperliquid has seen a significant increase in revenue, surpassing Ethereum, Solana, and BNB Chain.
- Revenue surged due to trader James Wynn's high-leverage bets, raising network activity.
- Hyperliquid facilitated over $1 billion in liquidity for these trades.
- The native token HYPE increased by 75% in the past month, currently priced at $32.50.
- Total value locked (TVL) reached $1.46 billion, doubling in 30 days.
- Coinbase announced support for Hyperliquid perpetual futures, launching on June 5, 2025.
James Wynn reportedly lost $100 million in a week through leveraged Bitcoin trades, liquidating positions worth 949 BTC after Bitcoin fell below $105,000.