Hyperliquid saw a fund outflow of over $430 million this week, marking the third largest single-week net outflow on record.

By: theblockbeats.news|2025/12/19 14:56:56
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BlockBeats News, December 19th, according to The Block, based on Dune Analytics data, Hyperliquid has seen fund outflows of over $430 million this week, marking the platform's third-largest outflow in history. The protocol's TVL has dropped from over $6 billion in mid-September to around $4 billion. At the same time, the protocol's native token HYPE has also dropped nearly 20% amid a broader market downturn over the past week.

While on-chain data may not necessarily reveal the specific motives of traders, the competition among decentralized perpetual contract platforms may have driven fund rotations. At the time of these outflows, competitors such as Lighter and Aster have rapidly climbed the perpetual contract DEX trading volume rankings this year, eroding Hyperliquid's dominant position in the DEX perpetual contract market.

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