If you're wondering who is selling $HYPE at these lows, its Wintermute. They currently shorting $12.61M worth of $HYPE while also market making on both sides. Classic Wintermute dump scheme

1/ The Sekai public testnet is now live. Sekai is a liquid staking protocol for Hyperliquid where anyone can launch their own LST - with instant exit liquidity via Sekai DEX from day one. Sekai brings a few things new to HyperEVM liquid staking - tradeable unstaking positions, holder-governed LSTs, a shared exit DEX, and staking-enabled primitives (HIP-3 exchanges, quote assets, etc.) managed directly from our frontend. This thread walks through all of these components, and who Sekai is for.

This is a charming little theory, mostly because it mistakes a spreadsheet coincidence for a capital-flow model. “AI market cap increased by $19 trillion” does not mean $19 trillion of cash was transferred into AI stocks. Market capitalisation is not a bank account. It is last price multiplied by shares outstanding. When Nvidia rises, nobody needs to gather the full increase in market cap from BTC holders in a wheelbarrow and deliver it to Nasdaq. That is the first error. The second is calling BTC “the most liquid risk asset on earth.” No. It is a risk asset, certainly. Liquid compared with many speculative tokens, yes. But compared with Treasuries, major FX, S&P futures, large-cap equities, or actual institutional funding markets, this is adorable. The third error is assuming that BTC is being “drained” to fund AI IPOs. That requires evidence of a flow channel: BTC sales, fiat conversion, capital migration, allocation into AI primary issuance, and enough scale to explain the price move. Otherwise it is just a bedtime story for people who discovered correlation and mistook it for causation. The fourth error is confusing public-market revaluation with IPO funding. AI market cap expansion is mostly repricing of existing listed firms, not fresh capital formation equal to the headline number. A stock going up does not mean the economy found new cash equal to the market-cap increase. It means the marginal buyer repriced future expectations. BTC is falling because marginal demand is weakening relative to marginal supply. ETF flows, leveraged positions, miner economics, treasury-company pressure, derivatives liquidations, liquidity withdrawal, and declining speculative appetite are all actual mechanisms. “AI got big” is not a mechanism. It is a slogan wearing a calculator. The phrase “13x the size of Bitcoin” is not analysis either. It merely compares two market capitalisations as though size alone explains capital movement. By that logic, every large asset class should constantly drain every smaller one. Strangely, reality declines the invitation. If BTC were truly the superior reserve asset its promoters claim, AI investment would not drain it. Capital would use BTC as collateral, settlement, treasury reserve, or transactional infrastructure. Instead, when productive opportunities appear elsewhere, capital leaves the speculative shrine and goes looking for cash flows. That is the part being avoided. AI equities at least claim earnings, infrastructure demand, productivity effects, enterprise adoption, and future revenue. Whether overvalued or not, there is a business model underneath the froth. BTC offers the hope that someone later pays more for the same inert object. So no, BTC is not crashing because AI created “$19 trillion” and sucked the money out through a golden straw. BTC is falling because its marginal buyer is weakening, its leveraged structure is fragile, its institutional wrappers are procyclical, and its economic utility has not matched the narrative sold around it. A market cap comparison is not economics. It is numerology with better lighting.

HYPE will run to $500 and pull back significantly to $450 Thats when you start buying 🎯

"Most people think Hyperliquid is a crypto app targeting the $3 trillion crypto market. It’s a super app targeting the $600 trillion global asset market."

$591M/year in HYPE buybacks. That's a buyback program larger than most public companies at this market cap. We ran a full 12-month valuation model from onchain data. The market is likely overpricing dilution. Full report: allium.so/reports/hyperliqui…

First thing we bought wasn’t a token. It was the vision.

Sushi Perps v2 is live now. Powered by @HyperliquidX Faster. Cleaner. Built around how you actually trade. Make a trade and start earning points.

Wait, eBay is gonna sell to you right? It would be kinda dumb if they don’t

16 more days to claim your vested $Supra tokens . I can tell you this for free, $Supra is dead 💀 End.

The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications. After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users. As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.

🔔 NOTIFS ON 🔔 AIRDROP COMING SOON 🪂

Roughly 2 more months until TGE for @GeniusTerminal If cash rewards for performing well in trading competitions and a points system for spot trading assets on Solana, BNB, Base, etc. interests you, check them out: tradegenius.com/ref/4U4ZN7

Sign up for @okx, deposit some assets, and join the X Drops Club for free airdrops. I've earned over $1500 in the last month or so. Definitely the best opportunity on exchanges right now. app.okx.com/ul/Am6LNz?channe…

LIGHT FOGO BREV LIT RAVE

Some of the Best Airdrop Opportunities of 2026 Rails - Backed by Kraken with over 20M in funding. It's a perpetuals exchange and trading evaluation platform that will launch a $RAILS token on Ink Chain (Kraken's ETH L2). It sets itself apart from Nado which will airdrop $INK tokens rather than its own token. > trade.rails.xyz/sign-up?code… Opinion Labs - The Binance version of Polymarket. It has over 800M in volume which I believe is the second largest for prediction markets. Should definitely cook. > app.opinion.trade?code=ZA5nQ… Predict.fun - Lower marketshare version of Polymarket on Binance Smart Chain. However, it has an easy-to-use interface and can deposit from multiple chains easily. > predict.fun?ref=48D90 TradeGenius - Trading terminal for Solana/BSC and HyperLiquid/Aster perpetuals. Invested in by YZiLabs with CZ as an advisor. Good funding, should cook. > tradegenius.com/ref/4U4ZN7 OKX US - If you're a US Citizen, OK US "X Airdrop club" is the place to be. I've earned over $1300 in free airdrops just by locking up assets for a short period of time (~$10K in TVL for roughly one week at a time). > app.okx.com/en-us/join/79352…

🧵The @predictdotfun Scandal and why Binance prediction markets are off to a terrible start! 1. This is the biggest scandal ive personally experienced in prediction markets and its happening right now on @predictdotfun I was genuinely excited to see Predict revived from the Blast days and relaunched on BSC with backing from @yzilabs This excitement is gone. 👇

Sell pressure on @Hyperwavefi's $HWAVE is completely exhausted. A large percentage (> 25%) of $HWAVE is staked and buybacks are happening daily. Backed by revenue generated via $hwHLP, $hwUSD, and $hwHYPE... more assets coming soon. Join the wave. Hyperwave.

Our yield optimization approach starts with security and risk management. New strategies are added gradually and carefully tested before deployment. This is reflected in the steady upward trend of hwHYPE's APR.

RT @KinetiqFND: Introducing KNTQ, the governance token of the Kinetiq protocol.