Spot DEX volume market share since the start of the year: Winners: Base doubled from 9% to 18% HyperCore also doubled from 2% to 4% HyperEVM went from 0% to 3% Ethereum: 18% -> 21% Losers: Arbitrum halved from 6% to 3% BNB down more than a third from 16% to 10% Solana: 41% -> 35% Distribution from @coinbase helps @base onchain activity, and the same can be said for @HyperliquidX and its ecosystem.

As part of the USDH sunset, all USDH-denominated markets on HyperCore have completed settlement. Users are recommended to immediately: + Swap USDH on HyperCore for USDC on the spot order book: + Swap USDH on HyperEVM for USDC 1:1 with no fees via Across: + Withdraw supplied USDH from Borrow/Lend: + Repay borrowed USDH by buying USDH/USDC:

🔓 Hyperliquid Is Unlocking Idle Liquidity .@HyperliquidX is upgrading HLP so unused USDC will automatically earn native lending yield instead of sitting idle. After the next network upgrade, HLP will deploy USDC that isn't being used for market-making into HyperCore’s native lending pool. The numbers show why this matters: → HLP TVL: ~$188.7M → Idle $USDC: ~$148.7M, nearly 79% of HLP capital → Allocated to strategies: ~$40M → Native lending supply APY: ~2.87% at the time of the snapshot At the current supply rate, deploying the idle capital could potentially generate several million dollars in annual interest, although actual returns will vary with utilization and lending rates. HLP was originally built around market making and liquidation backstop functions, requiring large cash reserves. But as Hyperliquid's order books mature and external liquidity grows, keeping most of that capital idle becomes increasingly inefficient. This is a strong sign of Hyperliquid's infrastructure maturing. Instead of choosing between liquidity and yield, HLP is becoming a multi-strategy capital engine: Market making + liquidation backstop + native lending yield. The bigger picture is that Hyperliquid is increasingly optimizing every layer of its ecosystem for capital efficiency.

Introducing: A native HyperEVM explorer with analytics and dev tools for CoreWriter, precompiles, HIP-3, HIP-4, and more. HyperCore and the HyperEVM share the same state. This reads both sides of it. Real-Time: every page updates the moment a block lands. Home, blocks, transactions, CoreWriter, any address. You never need to refresh. HyperCore Support: on any transaction that calls CoreWriter, what HyperCore did with the action: executed with the fill, rejected with Core's own reason string, or still pending. Dev Tools: 16 of them. A CoreWriter composer, a read-precompile playground, a dry run of any call with its state diff, and more. HIP-3 and HIP-4: builder DEX indices resolved to real dex names against Hyperliquid's own registry, plus outcomeOp split, merge and negate, settled value, and outcome asset ids. CoreWriter Tracking: every EVM to HyperCore write decoded by action, with the callers ranked and sendAsset broken out by token. 1,057,498 actions since launch. CoreWriter/Precompiles Growth Tracking: the share of HyperEVM transactions that read HyperCore state 10xed in six months. See which precompiles the EVM reads, and which contracts read them. Query and Export: filter any transaction, transfer, internal call or user operation by address, block range and amount, then take the result as CSV. Protocol Analytics: follow a protocol's money, and tell deposits apart from price. Money Flows: capital between protocols, wallets and HyperCore across 580 pairs, netted per pair, with the tokens behind every edge and the counterparties on both ends. Bridge: HYPE and every token crossing in both directions. Liquidations: every lending liquidation decoded, per market, ranked by debt repaid, with the collateral seized. Protocol Growth: month-one retention and cohort triangles per protocol. Concentration: the share of each protocol's transactions sent by its busiest 1% of addresses, which runs from a fifth to nine tenths. Also: name.hl resolution, verified sources, address labels, 4-byte method names, token approvals with one-click revoke, dual-lane gas, and a directory of 59 HyperEVM builder tools. Powered by @Quicknode Hyperliquid.

new things i’m excited about in the hyperliquid ecosystem right now: > spot RWAs coming to hypercore and EVM > onchain options gaining traction > prop trading finally coming onchain > outcome markets becoming permissionless > more assets coming for portfolio margin

The final Kinetiq Markets USDH pairs have completed settlement. By June 22, users are required to convert their remaining USDH via: - The HyperCore USDH/USDC order book - The Across 1:1 USDH to USDC bridge - The USDH Dashboard

🚀 Hyperliquid HIP-3 Daily OI Hits New ATH Hyperliquid’s HIP-3 markets just hit a new all-time high of ~$4.5B in open interest That milestone comes alongside several ecosystem upgrades: • HIP-1 will continue evolving based on community feedback • HIP-4 has added new features • Hyper Foundation is opening non-validator nodes to qualified infrastructure providers • @BuoyFinance has deployed a custom vault system connecting HyperEVM with HyperCore The bigger picture is interesting HIP-3 is pushing @HyperliquidX beyond traditional crypto perps, giving builders a permissionless way to launch markets for equities, commodities and other assets With OI now at ~$4.5B, demand for these markets is clearly accelerating At the same time, Hyperliquid is expanding the infrastructure and tooling around them