Hyperliquid’s perp volume share tops 7% for first time, hits 7.6% on June 8

Hyperliquid’s portion of all exchange perpetuals trading volume climbed above 7% for the first time, reaching 7.6% as of June 8. The move came during a market drawdown, with total crypto market cap down nearly 26% year to date and Bitcoin touching $59k on June 5. HYPE fell roughly 10% after Arthur Hayes said he closed his entire HYPE position, even as Hyperliquid’s platform volume continued to rise.