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Recently, South Korean stock leader SK Hynix has experienced a continuous decline, triggering an increase in the trading activity of related stock derivatives. According to the RootData Pro data panel, in mainstream stock derivatives exchanges:The SKHYNIX contract has generally dropped about 7% in 24 hours, with Lighter and HTX experiencing relatively smaller declines. From the perspective of open interest (OI), Hyperliquid leads with $571 million, followed by Binance with $501 million, and OKX in third place with $82.14 million; in terms of trading volume, Binance has the highest 24-hour transaction amount at $4.15 billion, followed by Hyperliquid at $1.51 billion and OKX at $1.19 billion.The SKHY contract has mostly dropped about 4%-5% across platforms in 24 hours. From the OI perspective, Binance leads with $115 million, followed by Hyperliquid with $110 million, Bitget with $20.22 million, and OKX with $17.41 million; in terms of trading volume, Binance has the highest 24-hour transaction amount at $1.61 billion, followed by XT.com at $482 million, OKX at $387 million, and Hyperliquid at $310 million.From the perspective of price spread, the spread for SKHYNIX on Binance, Bitget, and Bybit is about 0.0032%, Hyperliquid is 0.0054%, and OKX is 0.0076%; the spread for SKHY on Binance, OKX, Hyperliquid, Bitget, Bybit, and Gate is about 0.0081%, indicating high price synchronization. In terms of funding rates, the SKHYNIX contracts on Lighter, OKX, and Hyperliquid have relatively high funding rates, indicating an increase in long position costs.It is reported that SK Hynix announced its Q2 2026 financial report on July 29, with revenue of 79.32 trillion won, operating profit of 60.54 trillion won, and net profit of 93.92 trillion won, all setting quarterly records. However, the performance did not fully meet the market's high expectations, and SK Hynix's stock price once plummeted over 19.3% during the session, setting a record for the largest single-day decline in history. Overall, the funding for SK Hynix (SKHYNIX/SKHY) contracts is mainly concentrated on Hyperliquid and Binance.

According to Hyperliquid News monitoring, a certain whale recently migrated $7.29 million from Ostium to Hyperliquid and opened 10,124 long positions in the S&P 500, worth approximately $74.33 million.This position currently accounts for 13.03% of the market's open contracts.

According to data from RootData stock derivatives exchanges, the top three exchanges by cumulative trading volume in the past 7 days are Binance, Hyperliquid, and OKX.The total trading volume of the three exchanges is approximately $174.028 billion, accounting for 73.26% of the market share. Among them, Binance has a total trading volume of about $116.173 billion in 7 days, with a market share of 48.91%; Hyperliquid has about $30.618 billion, with a market share of 12.89%; and OKX has about $27.236 billion, with a market share of 11.47%.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $4.798 billion, with long positions at $2.358 billion, accounting for 49.15% of the total holdings, and short positions at $2.44 billion, accounting for 50.85%. The profit and loss for long positions is -$111 million, while for short positions it is $45.2692 million.Among them, the whale address 0xb83d..36 has shorted ETH with a 5x leverage at a price of $1869.42, currently showing an unrealized profit and loss of -$2.7469 million.

After SpaceX completed its IPO last month, Solana and Hyperliquid became one of the most active venues for trading SpaceX's tokenized stocks and perpetual contracts.Both are competing for a share of the billions of dollars in perpetual contract and tokenized stock trading volume, engaging in competition around related trades.

According to the latest stock derivatives exchange ranking released by RootData, Binance, Hyperliquid, and OKX are in the top three. This list provides a comprehensive score for exchanges supporting stock derivatives trading based on dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability, among others:Binance scored 95.5, with a position size of approximately $3.187 billion, a 24h trading volume of about $30.96 billion, and a market share of 50.19%.Hyperliquid scored 94.8, with a position size of approximately $1.884 billion, a 24h trading volume of about $7.818 billion, and a market share of 12.68%.OKX scored 92.7, with a position size of approximately $540 million, a 24h trading volume of about $7.275 billion, and a market share of 11.80%.Binance, Hyperliquid, and OKX together account for 74.67% of the trading volume, while the top five reach a total of 82.70%, further squeezing the liquidity space for smaller platforms.It is worth noting that Hyperliquid has a spread of 0.239%, the highest among the top ten exchanges, with entry costs significantly higher than other leading platforms.

According to Coinglass data, the current holdings of whales on the Hyperliquid platform amount to $5.098 billion, with long positions totaling $2.508 billion, accounting for 49.19% of the holdings, and short positions totaling $2.590 billion, accounting for 50.81%. The profit and loss for long positions is -$133 million, while the profit and loss for short positions is $61.7549 million.Among them, the whale address 0xb83d..36 has shorted ETH with a 5x leverage at a price of $1869.41, currently showing an unrealized profit and loss of -$2.1327 million.

According to Onchain Lens monitoring, the Bitwise BHYP Hyperliquid ETF transferred 39,300 HYPE to Coinbase about 1 hour ago, worth approximately $2.13 million.Over the past few weeks, the fund has cumulatively transferred 280,700 HYPE to Coinbase through multiple transactions, worth approximately $17.35 million. It currently holds 354,000 HYPE, worth approximately $19.25 million, with an additional $34.62 million worth of HYPE staked in Hyperliquid.

According to the latest ranking of stock derivatives exchanges released by RootData, Binance, Hyperliquid, and OKX are in the top three. The list is based on comprehensive scoring of exchanges supporting stock derivatives trading, considering dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability. Among them:Binance scored 95.7, with a position size of approximately $2.844 billion, a 24h trading volume of approximately $19.879 billion, and a market share of 48.46%.Hyperliquid scored 94.9, with a position size of approximately $1.708 billion, a 24h trading volume of approximately $5.668 billion, and a market share of 13.82%.OKX scored 92.6, with a position size of approximately $528 million, a 24h trading volume of approximately $4.752 billion, and a market share of 11.58%.Compared to the same period last week, Hyperliquid rose from seventh to second place; OKX rose from sixth to third place; Gate rose from eighth to sixth place. MEXC fell from second to fifth place, and Bybit fell from third to seventh place.

In response to the abnormal volatility in the SK hynix perpetual contract market, Hyperliquid stated that the platform is an unlicensed blockchain, and the HIP-3 market can be independently deployed and operated by different teams. The xyz:SKHYNIX perpetual contract is deployed and operated by the Trade.xyz team, which is currently investigating the incident and will announce progress after reaching a conclusion.Hyperliquid also explained that HIP-3 deployers can independently push the market's mark price, oracle price, and external perpetual price inputs. If a pricing mechanism similar to that used by platform validators for operating perpetual contracts is adopted, the protocol only provides one of the three median components, namely the on-chain latest transaction price, the best buy price, and the best sell price median, while the other two components are provided by the deployer, who jointly determines the final mark price.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $5.221 billion, with long positions totaling $2.576 billion, accounting for 49.33% of the holdings, and short positions totaling $2.646 billion, accounting for 50.67%. The profit and loss for long positions is -$138 million, while the profit and loss for short positions is $66.1468 million.Among them, the whale address 0xb83d..36 has shorted ETH with a 5x leverage at a price of $1869.41, currently showing an unrealized profit and loss of -$368,400.

According to on-chain analyst Ai Yi's monitoring, Hyperliquid SKHX plummeted 17.9% this morning, with the liquidation amount exceeding Binance in 4 hours.The cause was an abnormal order in pre-market trading for South Korea's SK Hynix (1 share traded at 1.272 million KRW, approximately 867 USD), which triggered a halt after a drop of up to 30% due to poor liquidity. The price of Hyperliquid crashed following the Oracle's response, and the price on Binance also fell due to arbitrage activities; the current price has returned to normal.

According to Onchain Lens monitoring, Hyperliquid generated $743,900 in fees and burned 11,780 HYPE, worth $667,900.Its total burned amount is 47.3 million HYPE, worth $2.68 billion, accounting for 4.73% of the maximum supply of 1 billion.

Delphi Digital stated that Hyperliquid's open interest has risen to a 2026 high, reaching $11.5 billion. Among them, the open interest related to HIP-3 is close to $4 billion, with the S&P 500 being its largest trading market; in AI-related stocks, SK Hynix and Micron Technology are among the most active in trading.Data shows that Hyperliquid's growth is no longer limited to the cryptocurrency perpetual contract market.

According to monitoring by Onchain Lens, 6.93 million HYPE will be unstaked from Hyperliquid in the next 7 days, valued at approximately 415.2 million USD at current prices.Among them, on July 30, 3.3 million HYPE will be unstaked in a single day, valued at approximately 197.53 million USD, which may become one of the largest single-day unstaking events in Hyperliquid's history.

The Hyperliquid testnet recently introduced a new feature called "stars." This feature introduces an optional trading address whitelist mechanism for the HIP-3 DEX, allowing deployers to restrict trading to only whitelisted addresses for opening or increasing positions. Currently, the whitelist size limit on the testnet is 10,000 addresses, while unauthorized addresses can still deposit into accounts and submit orders limited to reducing positions, in order to close or lower existing positions.Community members analyze that this feature is expected to expand the application scenarios of the HIP-3 DEX. For example, tokenized stocks, real-world assets (RWA), institutional indices, and other regulated products can open trading only to users who have completed identity verification (KYC) or meet access requirements through the address whitelist. At the same time, new markets can first open testing to market makers, partners, or community members, reducing the risk of encountering junk trading, wash trading, or malicious manipulation in the early stages of the market, while allowing non-whitelisted users to continue reducing positions, thus avoiding situations where users cannot exit their holdings due to permission restrictions.In addition, the stars feature does not change the permissionless nature of the Hyperliquid base layer but adds an optional access control feature that developers can enable or disable based on their needs. This means that scenarios such as DAOs, trading clubs, private equity funds, or partner-exclusive markets can build closed trading markets with access mechanisms while maintaining the advantages of the Hyperliquid matching engine and settlement layer. Currently, this feature is still in the testnet phase, and the official has not yet announced its specific uses; further application scenarios await confirmation with the mainnet launch and more developer documentation.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $5.474 billion, with long positions of $2.676 billion, accounting for 48.89% of the holdings, and short positions of $2.798 billion, accounting for 51.11%. The profit and loss for long positions is -$32.441 million, and for short positions, it is -$47.2785 million.Among them, the whale address 0xb83d..36 has shorted ETH with a 5x leverage at a price of $1860.26, currently showing an unrealized profit and loss of -$5.2169 million.

GLC Research stated on X that Hyperliquid's "priority fee" mechanism has achieved great success, having generated over $5 million in revenue to date.Based on the average levels over 14 days and 30 days, the annualized buyback scale supported by this revenue has exceeded $30 million, accounting for about 7% of HYPE's total revenue. Considering that the "priority fee" is still in a very early stage, this figure is expected to continue to grow, with the annualized scale of this revenue likely to reach between $50 million and $100 million by the end of the year.