Author: Wenser, Odaily
On May 26, Hyperliquid officially announced that the platform's multiple data points have once again reached historical highs: the total outstanding contract amount reached $10.1 billion; 24-hour fee income was $5.6 million; USDC locked volume reached $3.5 billion. As the market reaches new highs, Hyperliquid, known as the "on-chain CEX", has gradually become the market's liquidity focus, where many crypto whales have been engaging in long and short battles, with many achieving significant gains. Recently famous James Wynn, in particular, has driven the BTC and PEPE market dynamics through Hyperliquid's epic positions, with the attention and liquidity he generated even overflowing to meme coins like moonpig.
Without exaggeration, to a certain extent, Hyperliquid has become a hunting ground for crypto whales, where many people influence market sentiment through publicly disclosed positions, thereby achieving market price manipulation and completing their profitable hunts.
This article will briefly explore this trend and its subsequent direction.
Hyperliquid's New Trading Volume: A Feast Boosted by Crypto Whales
[The rest of the translation follows the same professional and accurate approach, maintaining the original meaning while translating to English.]Here, on one hand, they can track and profit from price trends through frequent trading, and on the other hand, they can also influence off-market sentiment and market direction to some extent through their positions, thereby making a profit. On this crypto land full of countless risks and opportunities, James Wynn is neither the first hunter nor will he be the last.
