On Thursday, the Hyperliquid Research Collective (HRC) released the first- 
quarter (Q1) blockchain report on Hyperliquid (HYPE). The report highlights 
strong progress in several core areas, as well as weaker performance in 
others. The document also points to a broader narrative for the platform, 
arguing that Q1 brought Hyperliquid closer to its “House of All Finance” 
vision—even as wider market conditions made the quarter tough by historical 
standards. Hyperliquid Records 70% Outperformance Vs Bitcoin According to the 
report, Hyperliquid generated $215 million in gross revenue during Q1. That 
figure was paired with a buyback of 4.9 million HYPE tokens, underscoring the 
firm’s emphasis on token value support. Despite the declines seen in some 
operational metrics, the HYPE token delivered standout results, climbing 444% 
across the quarter. The report says this allowed HYPE to outperform Bitcoin 
(BTC) by 70% over the same period. Related Reading: VanEck Forecast: Bitcoin 
Could Climb To $1,000,000 By 2031, Research Head Says At the same time, not 
every measure moved higher. The report notes that holder revenue fell 33%, 
perpetual (perp) volume dropped 15%, and average open interest compressed 23%. 
The report attributes these changes to the environment the market was in, 
describing Q1 as the worst quarter for the market since 2018. In that context, 
Bitcoin fell 26%, and total crypto market capitalization recorded outflows of 
more than $900 billion, which the report frames as a major drag on activity 
and income. The Hyperliquid report also breaks down how the quarter unfolded. 
Hyperliquid’s quarter low was $1.16 billion in January, marking a 20% decline 
compared with the end of 2025. It says that February and March helped 
stabilize the picture, with March emerging as the strongest month for locked 
liquidity. Specifically, total value locked (TVL) rose from $1.4 billion to a 
peak of $1.8 billion, before settling by quarter-end at $1.69 billion. “House 
Of All Finance’ Gains Traction Activity on the Hyperliquid side remained an 
important bright spot. The report shows HIP-3 deployer volume grew 
sharply—from nearly $25 billion in January to $68 billion in March—and 
finished the quarter at 33% of daily perp volume. Looking at broader DEX 
activity, Hyperliquid reported that total HyperEVM DEX volume declined 40% 
quarter-over-quarter (QoQ), landing at $9.2 billion compared with $15 billion 
recorded during the fourth quarter of last year. Beyond the numbers, the Q1 
Hyperliquid report emphasizes that this quarter felt different in terms of the 
company’s strategic positioning. HRC says Q1 was the moment when Hyperliquid’s 
“House of All Finance” thesis became “undeniable.” Related Reading: Bitcoin At 
$82K, But Metrics Don’t Smile: Network Activity Down, Spot Demand 
Negative—What’s Next? The Hyperliquid Research Collective report ties that 
claim to developments that landed around the same time, including a benchmark 
update: S&amp;P Dow Jones Indices, through an officially licensed benchmark, 
signed with Tradexyz, identifying the Hyperliquid HIP-3 deployer dominance as 
a key part of the ecosystem. The report also points to institutional and 
investment momentum, noting that Grayscale, VanEck, and Bitwise submitted 
filings for HYPE exchange-traded funds (ETFs). The report further highlights 
expanding institutional support, including the addition of Ripple Prime 
support to Hyperliquid for institutional clients. At the time of writing, 
Hyperliquid’s native token, HYPE, was trading at $42, having recorded losses 
of 1.7% over the previous 24 hours. Nevertheless, it is one of the best 
performers of the second quarter so far, having gained 17% over the past 
thirty days. Featured image created with OpenArt, chart from TradingView.com

Hyperliquid Q1 Report—The ‘House Of All Finance’ Is Nearer Than Ever, Here’s Why

Escalating US-Iran tensions in the Strait of Hormuz threaten global oil supply 
stability, potentially driving long-term price volatility.
The post Oil prices jump as US, Iran trade fire in Strait of Hormuz appeared 
first on Crypto Briefing.

Oil prices jump as US, Iran trade fire in Strait of Hormuz

Bermuda is transitioning from blockchain experimentation to practical 
implementation with the announcement of a new USDC stablecoin airdrop and a 
merchant onboarding program. Strategic Expansion of USDC Airdrops Bermuda is 
expanding its push into digital currency by launching a new stablecoin 
distribution and a comprehensive merchant onboarding program, Premier David 
Burt announced on May 6. […]

Bermuda Pushes New USDC Airdrop as Premier Burt Targets Local Merchants

XRP is trading above $1.41 as the market enters what feels like a decisive 
phase — a consolidation that has been building long enough that the next 
directional move is increasingly difficult to delay. The price is 
constructive, and an Arab Chain report tracking whale behavior on Binance has 
just identified a shift in large holder activity that adds a specific 
structural dimension to the current setup. Related Reading: Retail 
Capitulation Hits AAVE, But Smart Money Starts Positioning: Here The Post- 
Crisis Market Structure The report begins with the March picture, which serves 
as the alarming baseline. At the beginning of March, 30-day cumulative whale 
inflows to Binance reached 2.6 billion XRP — a level of large holder activity 
that reflected significant movement toward the exchange platform. In on-chain 
analysis, whale inflows of that scale to centralized exchanges carry a 
specific implication: when the biggest holders move large amounts to trading 
platforms, the likelihood of selling or repositioning increases meaningfully. 
The exchange is where selling happens. Inflows of 2.6 billion XRP from major 
holders created a supply overhead that the market had to absorb. That was 
March. The Arab Chain report&#8217;s more significant finding is what has happened 
since, because the shift from that 2.6 billion baseline to the current reading 
is the data point that changes how XRP&#8217;s current price level should be 
interpreted. From 2.6 Billion to 736 Million. The Biggest Sellers Have Nearly 
Left the Building. The Arab Chain report&#8217;s forward signal is contained in the 
direction and magnitude of what followed the March peak. The 30-day cumulative 
whale inflow indicator has been declining gradually and steadily since then, 
reaching approximately 736 million XRP — its lowest reading since November 
2021. From 2.6 billion to 736 million in a matter of weeks represents a 72% 
reduction in the primary channel through which large-scale XRP selling reaches 
the market. The report identifies two possible explanations for that 
behavioral shift, and both carry constructive implications. The first is 
reduced selling intent — whales are simply less inclined to sell at current 
levels and are choosing to hold their XRP off-exchange rather than position 
for distribution. The second is caution and anticipation — major investors are 
watching the market&#8217;s direction carefully before committing to any significant 
repositioning, which keeps their coins away from exchanges in the meantime. 
The continued decline through the volatility of recent weeks adds weight to 
both interpretations. If whale inflows had been declining simply because 
markets were quiet, volatility would have reversed them. They kept falling 
regardless, which suggests the behavioral shift is deliberate rather than 
circumstantial. The forward condition the report identifies is specific. If 
inflows remain at these historically low levels while demand improves and 
price stabilizes around the current level, XRP has the structural conditions 
to build a stronger price base. The largest source of selling pressure has 
retreated. What replaces it on the demand side will determine how durable that 
base becomes. Related Reading: Bitcoin Reclaims $80K, And $93K Comes Into 
Focus — Discover The CME Gap Setup XRP Compresses Below Resistance As Range 
Tightens XRP continues to consolidate around the $1.40–$1.42 region, 
maintaining a tight range after the sharp capitulation event in February. That 
move reset the broader structure, and since then, the price has transitioned 
into a prolonged sideways phase marked by reduced volatility and increasingly 
compressed price action. This type of behavior typically reflects equilibrium 
between buyers and sellers, but it also tends to precede expansion. From a 
structural perspective, XRP remains below all major moving averages. The 
50-day is flattening and acting as immediate resistance, while the 100-day and 
200-day continue trending downward above price. This alignment confirms that 
the broader trend has not yet shifted bullish, even as short-term momentum 
stabilizes. Related Reading: Ethereum Withdrawals From Exchanges Just Hit An 
8-Month Low: Find Out What Investors Are Waiting For What has changed is the 
downside behavior. Selling pressure has clearly weakened, with repeated dips 
toward the $1.30–$1.35 zone being absorbed consistently. Buyers are stepping 
in earlier, preventing deeper retracements and forming a subtle sequence of 
higher lows within the range. Volume supports the compression narrative. 
Participation has declined compared to the selloff phase, indicating that the 
market is waiting for a catalyst rather than actively positioning. A break 
above $1.45 would mark the first structural shift toward a recovery. Until 
then, XRP remains coiled within a tightening range. Featured image from 
ChatGPT, chart from TradingView.com

XRP’s Biggest Holders Just Stopped Sending Tokens to Exchanges: Last Time Was November 2021

Heightened military engagement in the Strait of Hormuz could lead to increased 
global oil trade tensions and potential diplomatic challenges.
The post US forces intercept Iranian attacks in Strait of Hormuz escalation 
appeared first on Crypto Briefing.

US forces intercept Iranian attacks in Strait of Hormuz escalation

Harris&#8217;s critique highlights domestic political divides and potential 
geopolitical instability, impacting market perceptions of Iran&#8217;s future.
The post Kamala Harris criticizes Iran war amid US regime change push appeared 
first on Crypto Briefing.

Hyperliquid Q1 Report—The ‘House Of All Finance’ Is Nearer Than Ever, Here’s Why

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