Binance cleared $1,591.9B in TradFi perps for 50.4% share as weekly volumes jumped from $60B early in the year to over $200B by August.

Hyperliquid advances talks with Kraken parent to deliver crypto perps to US traders, building on its 2024 mainnet launch and HYPE airdrop.

Hyperliquid whales ramp up long positions to new 2026 record, signaling strong bullish sentiment in crypto perps amid Bitcoin rally.

According to @ai_9684xtpa, wallet 0x61CEeF212fF4a86933C69fb6aca2fe35D8F2A62B deposited 5.106 million USD to Hyperliquid within the past 6 hours, then opened a 36.27 million USD BTC long and 36.87 million USD combined shorts in ETH, SOL, and AVAX, totaling 73.15 million USD in gross positions. Source: Ai 姨 (@ai_9684xtpa); Hyperliquid trader page for 0x61CEeF212fF4a86933C69fb6aca2fe35D8F2A62B. The long and short notionals are nearly equal, indicating roughly balanced exposure with an estimated 0.60 million USD net short tilt based on the reported sizes. Source: Ai 姨 (@ai_9684xtpa). The structure concentrates long exposure in BTC against short exposure in large-cap altcoins on the Hyperliquid perp DEX, a configuration relevant for monitoring BTC versus altcoin relative performance and funding dynamics. Source: Ai 姨 (@ai_9684xtpa); Hyperliquid trader page for 0x61CEeF212fF4a86933C69fb6aca2fe35D8F2A62B.

According to @lookonchain, address 0xFB78 deposited 15.5 million USDC to HyperLiquid and opened a 20x leveraged long totaling 980 BTC with a $90.7 million notional on Jan 7, 2026, based on on-chain tracking. According to Hypurrscan, the 0xFB78 perps account reflects the BTC long position and the associated USDC deposit.

According to @phantom, its Perps product has reached $26B in cumulative trading volume, 85K traders, 6M positions opened (3.9M longs, 2.1M shorts), and $100M in cumulative net deposits, source: @phantom. The long-to-short position count ratio is approximately 1.86 (about 65% long by count), indicating a net long skew within this dataset, source: @phantom. Traders averaged roughly 70.6 positions each (6M positions over 85K traders), signaling high engagement on the venue, source: @phantom. Implied turnover is around 260x (volume to net deposits), with an estimated average volume per trader near $306K and about $4.3K per position, source: @phantom. These benchmarks help traders assess directional crowding and typical ticket sizes for execution planning on this perpetual futures venue, source: @phantom.

According to @phantom, the company announced five major launches titled Phantom Cash, Phantom Perps, Phantom Terminal, Phantom Predictions, and Phantom Connect, published on its official X account on Dec 30, 2025. Source: Phantom on X, Dec 30, 2025, post ID 2006083196312772611. The post lists only the product names and does not provide feature details, supported chains, release timelines, token economics, or access requirements. Source: Phantom on X, Dec 30, 2025, post ID 2006083196312772611. From a trading perspective, the inclusion of items named Perps, Terminal, and Predictions indicates a lineup labeled for trading workflows by name, but no functional specifics are disclosed in the announcement. Source: Phantom on X, Dec 30, 2025, post ID 2006083196312772611.

According to @OnchainDataNerd, whale address 0xBAD opened two leveraged long positions — approximately $58.16M notional at 5x on $HYPE and approximately $30.5M notional at 20x on ETH — with a current unrealized loss near $2.8M (source: @OnchainDataNerd). Liquidation risk cannot be determined from the post because the entry prices, maintenance margin, and trading venue are not disclosed; perps are liquidated when margin falls below maintenance thresholds set by the exchange risk engine (source: Binance Futures documentation). Traders should monitor ETH and HYPE price momentum, funding changes, and on-chain activity at the disclosed address for potential de-risking or adds, as higher leverage increases sensitivity to adverse moves and potential liquidation pressure (sources: @OnchainDataNerd; Binance Futures documentation).

According to @OnchainLens, a whale deposited $3,000,000 USDC into HyperLiquid and opened a 10x leveraged short position on ETH. Source: https://twitter.com/OnchainLens/status/1997622829446303768 The trader activity is visible on HyperLiquid’s hyperbot dashboard for address 0x298629982613bF36C48d0B31afd2Fe7d1b4604dc, corroborating the deposit and short entry. Source: https://hyperbot.network/trader/0x298629982613bF36C48d0B31afd2Fe7d1b4604dc At 10x leverage, $3,000,000 in collateral corresponds to up to approximately $30,000,000 in notional short exposure if fully utilized. Source: leverage and deposit details from @OnchainLens above

According to Lookonchain, a sharp drop in MON triggered the full liquidation of address 0xccb56f9cba0138bb9cb8f6a6ad290a6ea9879b46 (trader 0xccb5) on Hyperliquid, closing a 244.38M MON long worth roughly $6.5M, realizing about $1.9M in losses and leaving the account balance at zero; source: Lookonchain; Hyperliquid trade history. This confirms a single-event removal of approximately $6.5M in MON long-side exposure via forced liquidation on Hyperliquid, a trading-relevant datapoint for assessing liquidity and risk in MON perpetuals; source: Lookonchain; Hyperliquid trade history.

According to @EvanWeb3, the user posted the remark This guy perps while linking to an X post by @0xairtx on November 27, 2025, implying the referenced party trades crypto perpetual futures, source: https://twitter.com/EvanWeb3/status/1993880638269870554 and source: https://x.com/0xairtx/status/1993404654588231980. The cited post provides no details on asset, direction, size, exchange, or timing, so it does not constitute a verifiable trading signal, source: https://twitter.com/EvanWeb3/status/1993880638269870554 and source: https://x.com/0xairtx/status/1993404654588231980. Given the absence of trade specifics in the source, traders should avoid initiating positions based solely on this mention and wait for corroborating disclosures or data, source: https://twitter.com/EvanWeb3/status/1993880638269870554. Actionable next step is to monitor the linked threads for any follow-up with concrete parameters that could inform funding, open interest, or spread dynamics, source: https://twitter.com/EvanWeb3/status/1993880638269870554 and source: https://x.com/0xairtx/status/1993404654588231980.

According to @ai_9684xtpa, the top ZEC short address on Hyperliquid is showing more than $22.04 million in unrealized losses even after reducing size, tied to a 60,870.43 ZEC short with a reported liquidation price of $1,112.45 (source: @ai_9684xtpa; hyperbot.network). According to @ai_9684xtpa, ZEC traded above $700 on Hyperliquid, intensifying pressure on the concentrated short position (source: @ai_9684xtpa). Based on the figures reported by @ai_9684xtpa, the position size of 60,870.43 ZEC implies material liquidation sensitivity as price moves toward the reported liquidation level on Hyperliquid (source: @ai_9684xtpa; hyperbot.network).

According to @CoinMarketCap, an unidentified trader on Hyperliquid generated roughly $3.1M in profits within about nine hours via two 20x leveraged short positions against BTC and XRP. Source: CoinMarketCap. This confirms BTC and XRP experienced intraday declines during the period sufficient for 20x shorts to realize large gains, underscoring notable high-leverage activity in those perp markets. Source: CoinMarketCap.