Perp DEX
On-chain perpetual and derivatives exchanges — volumes, fees, exploits, and the tokens behind them.
Hyperliquid: one weird trade in Seoul, $26 million gone in minutes
One trade. A single SK Hynix share printed at ~$867 in a thin Korean pre-market session — about 30% below the real price. Korea's exchange halted. The oracle didn't — it chased the print, SKHX cratered 17.9%, and $26m in leveraged…
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What’s developing right now — ranked by recency, momentum, and importance.
- 1Hyperliquid platform ascent
Hyperliquid is expanding its decentralized perpetuals dominance through record open interest, tokenized equities, growing fee revenue, and HYPE token buybacks.
Latest: Hyperliquid generates $1.4M in single-day fees and burns $1.2M in HYPE, continuing its aggressive buyback-and-burn cadence.
- 2DeFi exploit wave 2026
A relentless wave of DeFi exploits—spanning smart contracts, bridges, oracles, and MEV bots—is draining hundreds of millions and pushing 2026 toward record hack losses.
Latest: Ostium reopens trading on July 23 following the $23.75M oracle-price exploit, with recovery plan for liquidity providers advancing
- 3SKHX Hyperliquid volatility
A large leveraged SKHX position on Hyperliquid is driving extreme price swings and liquidation cascades.
Latest: SKHX flash-crashes 17.9% on Hyperliquid, wiping $26M in forced liquidations after abnormal South Korean pre-market orders
- 4Prediction markets legal battle
Kalshi and Polymarket face mounting legal and regulatory scrutiny as courts and Congress simultaneously wrestle with whether sports event contracts constitute illegal gambling.
Latest: House panel formally weighs federal rules for Kalshi and Polymarket sports bets as Washington state court injunction against Kalshi stands.
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- 2026-07-28Take
SKHX Flash Crash Hits Hyperliquid
One trade. A single SK Hynix share printed at ~$867 in a thin Korean pre-market session — about 30% below the real price. Korea's exchange halted. The oracle didn't — it chased the print, SKHX…
- 2026-07-27
Coinbase Perps Launch, CME Sues
Coinbase launched US-regulated perpetual-style crypto futures products, bringing a trading structure that previously accounted for roughly 90% of offshore crypto trading volume into the US regulated…
- 2026-07-26
Hyperliquid Logs Record Single-Day Fees
Hyperliquid generated $1.4 million in fees in a single day and burned $1.2 million worth of HYPE tokens in the same period. Cumulatively, the protocol has burned 47.27 million HYPE tokens,…
- 2026-07-26
ETH ETF Gains as HYPE Outflows Rise
Institutional ETF capital continued flowing into Ethereum while Hyperliquid recorded net outflows, with a whale separately moving $32.9 million in HYPE tokens to HyperCore as the token's price…
- 2026-07-25
Kraken Debuts US-Regulated Perps
Kraken launched CFTC-regulated perpetual futures products for US traders, establishing a named regulated on-chain perpetuals venue in the US market.
- 2026-07-24
HYPE ETF Outflows, Price Drops
The US HYPE spot ETF recorded a single-day net outflow of approximately $1.02 million, while the token fell below $60 as institutions unstaked $291 million. Contrasting this, a whale staked 2.93…
- 2026-07-23
Ostium Relaunches After $24M Exploit
Ostium announced it would reopen trading on July 23 following the $23.75–$23.8 million oracle manipulation exploit confirmed in prior periods, with a recovery plan for affected liquidity providers…
- 2026-07-22
HYPE Falls 16% on Unstaking
HYPE has declined approximately 16% cumulatively over the prior 15 days as institutional unstaking and a sell-off surge continued, coinciding with Multicoin Capital's 1.96 million HYPE token unlock…
- 2026-07-22
Congress Eyes Prediction Market Rules
A House panel is reviewing proposed federal rules governing Kalshi and Polymarket sports prediction markets, adding a congressional legislative track to the Washington State preliminary injunction…
- 2026-07-21
Hyperliquid Adds Prediction Markets
Hyperliquid announced the expansion of its platform to include decentralized prediction markets, requiring a $30 million HYPE stake to deploy but no validator approval. The permissionless structure…
- 2026-07-21
Kalshi Hit With Gambling Injunction
A Washington State judge issued a preliminary injunction against Kalshi, ruling that the prediction market platform constitutes illegal gambling under state law. The injunction establishes a judicial…
- 2026-07-19
Ostium Oracle Exploit: $23.75M
Ostium confirmed the total losses from its perpetual DEX exploit reached $23.75 million, caused by the injection of false oracle prices that unlocked trader positions. The platform issued an incident…
- 2026-07-19
Abraxas Adds $3M Hyperliquid Short
Abraxas Capital deposited 3 million USDC into Hyperliquid to add to existing short positions on the on-chain perpetuals platform. The deposit represents a concrete institutional capital flow into…
- 2026-07-19
France Blocks Polymarket, FBI Probes
France's gambling authority ordered internet service providers to block access to Polymarket, citing gambling violations and manipulation allegations. The blocking order follows the FBI's previously…
- 2026-07-18Take
Hyperliquid Hits $1B Fee Milestone
4.5% of all HYPE ever created has already been bought back and removed - paid for entirely by trading fees, not venture capital or token sales.
- 2026-07-17
Hyperliquid hits record 9% perp OI share
Hyperliquid has reached a record 9% share of aggregate perpetual futures open interest, marking a new milestone in the decentralized exchange's market share growth.
- 2026-07-16Take
Ostium $18M Oracle Exploit
Ostium didn't get hacked in the usual sense. The attacker didn't crack the trading engine or drain wallets by brute force. They got hold of a key that was authorised to submit price data, then used…
- 2026-07-16
EU flags Hyperliquid in DeFi crackdown
Legal monitoring platforms tracking DEX frontends and onchain derivative platforms under MiCA/MiFID have already flagged Hyperliquid for serving EU users without authorization, signaling that…
- 2026-07-16
Supra Oracle Exploit Spreads
New reporting disclosed that Supra patched its oracle on 11 other blockchain networks before the $9 million Hedera exploit became public. The sequence adds detail to the previously documented Bonzo…
- 2026-07-15Take
Hyperliquid Squeezes USDC Economics
Hyperliquid holds $6 billion in USDC — roughly 8% of everything in circulation. That scale forced the USDC partners into a remarkable arrangement: Coinbase collects all the reserve income on…
- 2026-07-12
Hyperliquid OI Share Hits 9% ATH
Hyperliquid's perpetual contracts open interest market share reached 9%, a new all-time high. HYPE traded at $67.53 with analysts citing a potential breakout toward $77.50, and the protocol's buyback…
- 2026-07-12
$9M Drained via Hedera Oracle Exploit
The Bonzo Lend protocol on the Hedera network was exploited for $9 million after a Supra oracle verifier accepted a manipulated price update. The attack caused Bonzo Lend to lose approximately 77% of…
- 2026-07-11
Whale Flips to $19M HYPE Short
A large on-chain whale closed a HYPE long position at a $4.52 million loss and immediately opened a $19.34 million short position in the same asset on Hyperliquid. Separately, Hyperliquid's two major…
- 2026-07-10Take
Hyperliquid Volume Falls 35%
RWA open interest doubled in two months — from $1.3 billion in March to $2.6 billion in May. That's not a platform in trouble. That's a platform finding a completely different user.