1/ Hyperliquid EVM has reached $1.7B in TVL, representing a 337% YTD increase from $400M.
Breaking down the Hyperliquid ecosystem protocols leveraging programmable finance primitives: builder codes, auctions, and Hypercore/EVM composability, only possible on @Hyperliquidx:

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Currently, both on-chain and exchange liquidity are terrifyingly low...... If we compare the peak values of the previous two market cycles, we can see a huge difference. During the peak in March 2024, 150,000 BTC were exchanged daily on-chain (7d sma), and during the peak in November 2024, 160,000 BTC were exchanged daily, while now only 85,000 are exchanged daily.

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(Figure 1) Even more remarkably, on April 28th when BTC rebounded to $95,000, it was the day with the best on-chain liquidity in this market cycle. And $95,000 happens to be near the average cost line for short-term holders, which should have many...

Viewpoint: Whether on-chain or on exchanges, liquidity is terribly low, and the risks are getting higher and higher?

1. Perhaps there is spot supply at a high level, taking advantage of the short-side liquidity here. After all, those holding short positions will panic when the price approaches this liquidation zone and choose to close their shorts... Futures buying will take over spot selling, and the price will remain range-bound, which is quite reasonable. ——Crypto_Painter @CryptoPainter_X

2. Speculation: <ETH> staking ETF is about to be approved, and insiders are rushing to build positions. Reasons: 1. BlackRock's continuous increase in <ETH> holdings and CME's month-end open interest reaching a historical high; 2. In May, <SEC> stated that <PoS>...

Will BCT start to pull back after reaching the top, or will it consolidate and then rise? Traders say so!

BTC Breaks Higher - But The Real Story Is Building Underneath After weeks of tight range trading, Bitcoin finally broke — dipping briefly to $100K before snapping back to $110K. Buyers remain firmly i...

BTC Breaks Out, ETH Vol Steals The Spotlight

6/  @liminalmoney demonstrates EVM/Hypercore interaction by automating delta-neutral farming. The protocol:
Accepts USDC deposits on the EVM layer
Executes spot purchases on Hypercore
Opens equivalent short positions to maintain market neutrality

7/ The cross-layer composability has enabled protocol architectures not previously possible in DeFi.
The end state points toward a fully integrated financial system where lending, options, LSTs, and dApps directly access Hypercore's deep liquidity.